What are the advantages of development of manufacturing Industries?
Answers
Advantages of innovation in manufacturing
Innovation in manufacturing can take many forms, from product to process improvements. Innovation offers many important advantages to businesses and is often key to outperforming the competition.
Benefits of innovation for manufacturing business
Continuous innovation in manufacturing can help you to gain a competitive advantage and achieve:
greater responsiveness to customer demands
faster turnaround times
reduced waste levels and downtime
improved product design and quality
greater potential for a wider product range
streamlined relationships with suppliers and customers
Read also about advantages and disadvantages of just-in-time production.
Introducing innovation to your business requires time and money. You can introduce innovation either gradually or in one go. The timeframe will depend upon a range of factors including:
the specific changes you want to introduce
the availability of resources to complete them quickly
if you need to stagger disruptions to your production capacity while the transition is being made
Keep in mind that product and service innovation is often expensive and competitors can easily copy it. See how to protect innovative ideas and practices in manufacturing.
Manufacturing innovation examples