Minitab Workspace incorporates value stream maps (VMS) to analyze th production process, streamline operations, minimize waste, and identify improvement. This leads to enhanced productivity, reduced lead times, and cost savings.
Today, we want to share with you 8 ways value stream maps (VMS) can reduce supply chain costs.
1. Reduce Inventory Costs
Companies can lower inventory, saving on storage, insurance, and handling expenses and reducing capital costs by reducing production waste.
2. Shorten Lead Times
Business can improve product delivery time, decrease transport costs and boost customer satisfaction by identifying and resolving production delays. This also reduces expedited and airfreight costs while improving timely deliveries.
3. Improve Efficiency with Minitab
Corporations can enhance machine utilization, minimize scrap and rework, and decrease energy consumption by eliminating waste and inefficiencies during production.
4. Decrease Scrap and Rework
Institutions can minimize scrap and rework due to overproduction or lack of quality control by identifying and eliminating defect causes.
5. Minimize Downtime
Organizations can decrease overproduction by removing bottlenecks and delays, resulting in lower maintenance costs and increased productivity.
6. Increase Customer Satisfaction with Minitab
Enterprises can achieve cost savings by enhancing customer satisfaction through improved quality, on-time delivery, and reduced returns. This would lead to increased sales and loyalty.
7. Improve Supplier Relationships
Companies can detect supplier problems, such as delivery delays, and take action to negotiate better prices and delivery terms, reducing resource costs.
8. Lower Operational Costs
Value stream mapping can examine the entire supply chain to pinpoint opportunities to reduce costs, like minimizing suppliers, orders or packaging.
Using powerful, visual business tools like Minitab Workspace can make value stream mapping a lot easier.
Watch the video below to learn how to use value stream maps to examine the flow of information and materials through the value stream:
We are Minitab’s Value Add Resellers, if you need a quote contact us via email firstname.lastname@example.org or visit www.bowriversolutions.com for more information.