Article | January 19, 2022
Manufacturing branding is a relatively recent trend that is gaining traction in the manufacturing sector. Brand marketing is important for manufacturers in a variety of ways, including increasing business revenue and establishing product credibility within their target consumer group.
82% of people feel better about a brand after reading personalized content.
94% of customers are inclined to develop a relationship with a brand that is completely transparent.
13% of consumers would spend 31-50% more on your products or services if they believed your business was making a positive difference in the world.
In this article, we will look at the advantages of branding to a manufacturer as well as how brand manufacturing may be established.
What Difference Can Manufacturer Branding Make?
"A brand is a voice, and a product is a souvenir"
-Lisa Gansky, an American entrepreneur, writer, and speaker
Your Name and Work Will Be Publicized
Branding is the process of enriching your products with a visual, linguistic, and conceptual identity that differentiates them from competitors. Ideally, factory branding would help you reach out to your potential clients by making them aware of your company's name and becoming familiar with what you do.
Brand Marketing Builds Emotional Bonds
Manufacturing branding is more than merely developing an image in the minds of your customers. It's about telling a story that strikes a chord with them.Once you've defined your message and the motivation for developing your products, customers will be able to connect with you more easily.Relatability is critical in an era of ever-changing trends and consumer behavior. Your clients will simply switch over to another firm that provides the same service and fosters a sense of belonging. The emotional value of your manufacturing brands should not be underestimated.
Building Trust Is Easier with a Strong Brand
A manufacturing brand that wishes to remain in business for the long run will communicate with its customers. The customers understand that you would not connect or share your story unless you intended to grow with them. However, this strategy works only if the factory branding is well-executed and demonstrates its authenticity. Modern customers can easily notice dishonesty or the use of a phony character.
Increase of Distribution Channels
Working on your manufacturing branding will help you expand your sales. Just make sure you have the necessary tools to sell via different channels. Creating a memorable brand doesn't merely attract customers. It will also assist in attracting potential distributors who may otherwise be reluctant to be your distributing partners. Your ability to negotiate quality agreements with resellers and reps will increase when your manufacturing brand is well-known. It simplifies their lives and saves them money on marketing.
This is a domino effect issue. More distributors mean more exposure for your business, but a delicate balance must be maintained. Your personal connection with clients may be lost if you abdicate brand responsibility. So, provide superior customer service to maintain a connection with your customers.
Profit Margin Is Increased
A strong manufacturing brand will allow you to sell at greater prices. People will be happy to pay for a quality brand that they can trust. But what would really set you apart from the rest is if you could beat private companies at branding. Private brands are the house brands of shops and huge resellers who offer cheaper copies of your goods. Customers should be able to tell the price difference between a factory brand and a private brand.
"You can’t build a reputation on what you are going to do."
– Henry Ford, the founder of the Ford Motor Company
How to Build an Effective Manufacturing Brand?
Identify Your Intended Audience
Identifying your target demographic is the first step in intentionally building your brand. You can build a buyer persona of the typical user of your product or by analyzing your current consumer base. Consider their age, gender, industry, occupation, education, interests, etc. To grow your brand and market your products more effectively, you need to create a buyer persona.
Conduct Competitor Analysis
Following that, it would be advisable to analyze your competitors' brands. In various markets and with companies in general, there are many brand features that are unique and widely utilized, and it would be counterproductive for a corporation to highlight those elements. For example, many B2B companies take pride in their product quality, reliability factor, and personal touch. When everyone is highlighting the same brand qualities, you will need a unique approach to stand out.
Developing a Central Theme
A brand's central theme acts as a pillar. It summarizes your company's principles and objectives in a single statement, or perhaps one word. It's a lot simpler to come up with marketing ideas and campaigns that connect with your company's philosophy and seem like a part of the brand.
Developing Your Brand's Individuality
Now, imagine your brand as a person, considering the preceding phases. You may gather every piece of information possible. The more specific you are, the more solidity your brand identity will have.
Brand themes may help you develop your brand's personality and story. Using themes, you may classify individuals and fictional characters based on a common set of personality qualities. These are commonly used in psychology and marketing.
Creating a Visual Brand for Your Business
Finally, create a visual illustration for your organization. This includes producing unique logos that represent your company's beliefs, selecting colors, designing your website and blog, and everything that can be related to visualizing your corporate brand.
Get familiar with geometric and color psychology, look at what prominent brands and other firms in your industry have done, and get on board with a good graphic designer to create the materials.
Best Channels for Manufacturers' Branding
Many businesses utilize social media, blogging with SEO suggestions, and email newsletters to boost their online presence. Content is the most important consideration when adopting these marketing methods. Hire good specialists to assist you in
understanding your buyer's persona and developing buyer-centric content to capture their attention and generate potential leads for your business.An active social media presence enables you to increase the number of followers on your social media sites and reach millions of people via these platforms. Furthermore, you can start weekly newsletters to keep your subscribers updated on the latest developments, campaigns, and how you're working to develop the best goods possible for your target groups.
Effective branding for manufacturing is what you need to increase your company's popularity and demand in a competitive market. Once you've established yourself as a known brand in your sector, you may pursue manufacturer branding, which is used by many well-known manufacturers such as Ford, Nestle, Coca-Cola, and Apple. Use the above-mentioned techniques to create your own brand and stay ahead of the curve in your industry.
What are the four elements of branding?
A successful brand requires a strong brand identity, brand image, brand culture, and brand personality, all of which must be present.
What is the manufacturer’s brand?
A product that has the manufacturer’s name on it or is used to market and sell the product.
What is manufacturers’ label?
The manufacturers label provides name and address of the manufacturer or distributor and relevant hazard warnings.
Article | July 27, 2021
Filmmaking is manufacturing. To date, no one has made the direct correlation between the two. As many entertainment professionals know, the budget gap between indie productions and big studio blockbusters continues to grow. The day of mid-budget, independent (indie) movies is disappearing as fast as the middle class in the American economy. According to newbiefilmschool, the average budget is barely at $2 million for these pictures and producers have been forced to adapt by discovering creative ways to decrease costs, while maintaining a high production values for a sophisticated audience with high expectations.
Though there are many ways to cut costs, any business professional will agree to go with the options that bring down the budget the most. Just as dog is man’s best friend, here are three reasons why manufacturers have become the same for a filmmaker by saving money and time for every type of production.
Film equipment manufacturers
No long may a film lack quality in picture, sound, and bad acting. Once acceptable, these older movies were produced with the technology and film equipment constraints and from limited funding. Film equipment manufacturers from cameras, sound equipment, and computers cost less to achieve high production values. Film equipment companies face increasing competition, which has driven down the purchase price. Better equipment with significant technology improvements has reframed the indie film industry with high-level sound and image capture quality.
The transition of cameras from film to digital was a notable shift for manufacturers. Many industry-insiders believe that digital is free, and film is expensive, but there is more the manufacturing construct. Digital cameras, when compared to film cameras in the same market price bracket, are much more expensive than analog counterparts. It is true that film costs money and is single-use. Digital memory cards are relatively expensive and can be reused. Film also needs to be developed and there is a cost associated with that production cost. There are other ways in which digital modalities save filmmakers.
Across all industries, efficiency always wins. Innovative manufacturers have developed machines to make numerous jobs easier for everyone. Machines have been assisting filmmakers since the invention of the camera. AI (artificial intelligence) is poised to change film even more and continues to augment human creativity. Storytellers work with computers during every process of creating a motion picture which has sped up the time it takes to complete each-step in film making.
Automating pre-production processes, such as creating a budget and writing a script, is analogous to an ERP (enterprise resource planning) software for a traditional manufacturing operation. The Movie Magic budgeting software by Entertainment Partners has made creating a budget more efficient and accurate. Screenwriter programs vary from the downloadable Final Draft, and the purely cloud based, Celtx, are the reasons automated scriptwriting is the norm. These programs also automatically format writing to industry standards, facilitating the creative process.
Automation in post-production is equally advanced through editing software for video, sound, effects, and colors all the way to distribution and promotional content. Editing footage from digital rather than film saves time and money. Industry favorites include Adobe Premiere Pro and Apple’s exclusive Final Cut Pro and are used on almost all well-known movies and TV shows.
The impacts of COVID-19 on entertainment manufacturers
Without question, the pandemic has affected every industry by creating an unanticipated production standstill. Entertainment manufacturers have sacrificed countless productions, lost billions of dollars, and major talent agencies have furloughed hundreds of employees. This negative impact is not just difficult for indie filmmakers, big studios are suffering just as much with production delays and cancellations still happening as this article goes to press.
Any way back to the set is better than no set at all. A new necessity for productions to safely reopen includes epidemiologists and other public health specialists; they provide detailed strategies dealing with large crews who work in cramped spaces, makeup artists who get face-to-face with actors who kiss, hug, and fight on set. These COVID-19 consultants rely on the manufacturing industry for PPE supplies and carry out regular PCR tests. Face coverings and hand sanitizing stations have also become the norm, just like most other manufacturing operations.
Article | December 23, 2021
Every manufacturing company aims to be as efficient as possible to maximize profit. However, it's difficult to determine where you stand and what targets to establish unless you can precisely measure your efficiency. Manufacturing KPIsplay an important role in this process.
Keeping track of many indicators without considering their commercial worth is a waste of time.
“Not everything that can be counted counts and not everything that counts can be counted”
- Albert Einstein
But connecting goals to measurements is a certain way to track progress and improve processes. So let's get started with how to choose the most appropriate key performance indicators(KPIs) for your business.
Manufacturing KPI 2022: How to Choose the Right One?
Why are KPIs called “Key” Performance Indicators? While any statistic can be used to assess performance, KPIs are the most critical. Hence they are called key performance indicators. Companies' priorities while selecting their company KPIs may differ substantially depending on the industry in which they operate.
“Strategic-operational KPIs alignment gives the organization a powerful tool to use when implementing change.”
― Pearl Zhu
A corporation should not track more than ten manufacturing KPIs to avoid overblowing processes. So, manufacturing efficiency, customer satisfaction, lead times, etc., should all be included.
Depending on your business nature, you must select your KPIs. However, each of those indicators must meet a set of criteria before being considered meaningful.
So, what is a decent KPI for manufacturing?
It gives objective and clear data on progress toward a certain goal
It measures efficiency, quality, punctuality, and performance
It allows for tracking performance over time
It helps in decision making
It should be the one that matches the company's long-term objectives
It has to be measurable and quantifiable
It must be realistic and actionable
Following that, let's have a look at the most important manufacturing KPIs for 2022, which will assist you in better understanding your manufacturing business and formulating a growth strategy in line with that understanding.
Most Critical Manufacturing KPIs in Order of Priority
Despite the fact that manufacturers should also monitor general key performance indicators (KPIs) such as sales revenue, net profit margin, and so on, the manufacturing business demands the tracking of specific manufacturing metrics. Below are some of the most important manufacturing key performance indicators (KPIs).
Using this manufacturing KPI metric, you can see how much value there is in products still in progress. It assists manufacturing organizations in determining how much of their working capital is locked up in incomplete products and can aid in identifying supply chain managementdifficulties.
You can compute the Work-In-Progress (WIP) by using the formula provided below.
Return on Assets
This manufacturing KPIseems to be more about financing than manufacturing. Yes, it does. However, financial measurements are just as vital as production ones. A firm cannot exist unless it generates revenue, and this indicator measures how efficiently your company uses its assets and generates revenues.
The Return on Assets (ROA) of your company can be calculated using the formula below.
Cost Per Unit
It is critical to understand the overall manufacturing cost per unit. You can't appropriately price a product without it. This manufacturing KPIdivides total manufacturing costs by the number of units produced. Materials, overhead, depreciation, and labor are standard costs.
Companies utilize this manufacturing statisticto forecast future raw material needs to satisfy client demand. Unfortunately, this statistic is more challenging to employ because it is mainly dependent on unpredictable external circumstances. The basic formula is:
The seasonal factors are distinct
Average demand is calculated as:
A company's lead time, also known as order cycle time, is an important KPI. It shows how swiftly your organization processes orders and meets client requests. It is time it takes to complete an order from confirmation to delivery.
Long lead times can imply process inefficiencies that produce bottlenecks and excessive expenses. Conversely, short lead times are important since they allow you to respond to consumer needs swiftly and efficiently.
The total lead time can be divided into smaller segments as follows:
The time it takes to manufacture a product from start to finish
The time it takes to deliver a product from stockto a client
The time it takes suppliers to deliver products to manufacturers
By segmenting the lead time, you may more precisely identify the areas where inefficiencies in the process occur.
Toyota’s Four Key Performance Metrics
As a company, Toyota places a high focus on environmental protection. Toyota's vehicles are designed to use less fuel and produce less waste.
Regardless of the company's size, Toyota is committed to protecting the environment. Toyota's 'Earth Charter' was created in 1992 as part of the company's Global Policy initiative. It was Toyota's first overseas facility and the UK's first ISO14001-certified car manufacturer. Waterborne paints were utilized for the first time and zero waste was sent to landfills. In 2009, Toyota Manufacturing UK did not use any incinerators.
Toyota has developed a set of key performance indicators (KPIs) for each of its major production areas. There are four key performance metrics: energy, water, waste, and volatile organic compounds (VOCs).
Since its start in 1992, Toyota Manufacturing UK has attempted to mitigate its environmental impact. The figure below illustrates the environmental KPIsfor the Burnaston plant. Each year, Toyota sets new goals to improve its results.
79% reduction in vehicle energy consumption
62% reduction in waste per car
76% reduction in VOC emissions per car
79% reduction in water consumption per vehicle
You can use the aforementioned manufacturing KPIsto construct your manufacturing KPI template, but keep in mind that the manufacturing metricsyou need to track may differ from those listed here. The first prudent move any business can make while examining its operation is to identify and track the relevant KPIs. Also, in manufacturing, there are several different KPIs, phrases, and abbreviations need to be understood and used where it makes the most sense.
What is manufacturing KPI?
A manufacturing Key Performance Indicator (KPI) or metric is a well-defined and measurable indicator that the manufacturing sector uses to evaluate its performance over time and compare it to that of other industries.
What are the key KPIs for manufacturers?
On-Time Delivery, Production Schedule Attainment, Total Cycle Time, Throughput, Capacity Utilization, and Changeover Time are some of the key manufacturing KPIs.
Article | December 30, 2021
Risk management in manufacturing has always been a top priority for manufacturers to avoid any unfortunate incidents. As a result, it is possible to create a more secure work environment for employees by conducting risk assessments and implementing remedies.
“If you don’t invest in risk management, it doesn’t matter what business you’re in, it’s a risky business.”
– Gary Cohn, an American Business Leader.
As of 2019, the worldwide risk management market was valued at $7.39 billion, and it is expected to rise at a CAGR of 18.7% from 2020 to 2027, according to allied market research.
Why is Risk Assessment Critical in Manufacturing?
The manufacturing industry must have a credible risk assessment and management plan to defend itself from any breaches. Risk assessment helps firms understand the dangers they face and their implications if their systems are compromised. Hence, risk assessment is very critical in the manufacturing industry.
Five Risk Assessment Principles
Identify hazards/risks - Employers must examine their workers' health and safety risks. Therefore, an organization must regularly inspect its employee’s physical, mental, chemical, and biological threats.
Identify who may be hurt and in what way – Identifying the personnel both full-time and part-time at-risk. Employers must also examine threats to agency and contract personnel, visitors, clients, and other visitors.
Assess the risks and act accordingly - Employers must assess the likelihood of each danger causing injury. This will evaluate and lower the chance at the working space. Even with all safeguards, there is always some danger. Therefore, employers must assess if danger is still high, medium, or low risk.
Get the Risks Documented - Employers with five or more employees must record the critical findings of the risk assessment in writing. In addition, register any risks identified in the risk assessment and actions to minimize or eliminate risk.
This document confirms the evaluation and is used to examine working practices afterward. The risk assessment is a draft. It should be readable. It shouldn't be hidden away. The risk assessment must account for changes in working techniques, new machinery, or higher work objectives.
5 Manufacturing Risks to Consider in 2022
Accidents at Work
Even if official safety policies and programs are designed, followed, and enhanced, manufacturers may endure workplace accidents and injuries. Risk assessment for workplace accidents assists in mitigating the negative impact on both employees and the organization.
Manufacturers have distinct issues regarding fuel handling and hazardous waste disposal in facilities. Sudden leaks or spills may be extremely costly to clean up and result in fines from state and federal agencies. Risk assessments for such plant accidents assist businesses in mitigating financial losses.
Essential machinery throughout the production process might fail at any time, incurring significant repair or replacement costs. Therefore, it's critical to recognize that business property insurance may not cover mechanical issues.
Risk assessment and prepayment solutions protect against equipment failures without interfering with typical company operations.
Supply Chain Disruption
Dependence on your supply chain may result in unintended consequences that are beyond your control. For example, if you experience downtime on the manufacturing line due to a supplier's failure to supply materials or parts, you risk losing revenue and profitability. If a disturbance to your supply chain poses a hazard, risk management can assist you in managing it more effectively by quickly identifying the risk and providing a suitable response.
Operation Temporarily Suspended
Depending on the severity of the weather event, a factory might be severely damaged or perhaps utterly wrecked. While major repairs or rebuilding are being undertaken, recouping lost income might be vital to the business's future profitability.
Risk assessment in this area enables your organization to budget for overhead expenditures such as rent, payroll, and tax responsibilities during the period of suspension of operations.
Risk management is critical in manufacturing because it enables manufacturers to comprehend and anticipate scenarios and create a well-planned response that avoids unnecessary overhead costs or delays in delivering the production cycle's final result. Manufacturing risks are undoubtedly not limited to the risks listed above and may vary according to the nature of the business and regional environmental conditions. Therefore, create a well-defined strategy to overcome threats in your business and be productive at all times.
How are manufacturing business risks classified?
In most cases, the business risk may be categorized into four types: strategic risk, regulatory compliance risks, operational compliance risks, and reputational risks.
Why should a manufacturer conduct a risk assessment?
Every manufacturing employment has risks for injury or illness. But risk evaluations can significantly minimize workplace injuries and illnesses. In addition, they assist companies in discovering strategies to reduce health and safety risks and enhance knowledge about dangers.