Fast Fact #7

Four Main Practical Approaches to Reduce Cost in Outsource Manufacturing

1 Automate Manual Processes

Use IoT-driven automation to replace manual data collection and tracking methods, reducing errors and inefficiencies across the supply chain. Real-time monitoring automates tasks and accelerates decision-making for substantial cost savings.

2 Optimize Maintenance Cycles

Implement predictive maintenance powered by real-time data to prevent costly downtimes. This approach anticipates tooling issues in advance, extending tool life and reducing repair costs

3 Enhance Supplier Accountability

Real-time tooling data provides transparency into supplier performance, helping OEMs hold suppliers accountable and mitigate production delays, ultimately lowering costs and strengthening supply chain resilience.

4 Minimize Waste and Embrace Sustainability

Tooling digitalization optimizes resource use by reducing waste and energy consumption, directly lowering costs and supporting sustainability initiatives across the supply chain.

Key Takeaways

Streamlining processes with IoT, anticipating maintenance needs, and ensuring supplier accountability are game-changers for cost savings. Combined with sustainable practices to reduce waste, these strategies build a leaner, greener, and more resilient supply chain.

About the author

eMoldino

eMoldino aims to digitalize, streamline, and transform your manufacturing and supply chain operations. We help global manufacturers who want to drive corporate innovation while maintaining the core values of collaboration and sustainability. Talk with us to learn more →