Unlocking Success: How CEOs Influence Efficiency in Corporate Manufacturing
‘Efficiency’ has always been a buzzword for businesses.
Regardless of the era or the industry, keeping processes as simple and as cost-effective as possible helps to maximise profitability and ensure continued growth.
From the Ford assembly line in the early 20th century to the modern day, manufacturing organisations have been among those who place efficiency high on their list of priorities. While technology has moved on apace over the past 100+ years, one thing that hasn’t changed is the role of key decision-makers in the performance of any company.
CEOs, for example, are ultimately responsible, although they will employ a team underneath them to deal with individual aspects. These could include sourcing the appropriate manufacturing insurance, developing new products, and remaining compliant within any regulatory frameworks.
You wouldn’t expect a CEO to be hands-on when it comes to each of those duties but they can influence the overall efficiency of the business. Here’s how.
Strategic vision and goal-setting
The goals of any business have to come from the top. The CEO should have a vision for where they want the organisation to go in the short, medium, and long term and, once those objectives are set, there needs to be a clear, concise plan of how they are going to be met. This must be shared with senior management, who in turn can pass it on to their respective teams.
Implementing the company’s overarching strategy will likely impact the various departments in different ways. With that in mind, the plan needs to be communicated to each team in a way that is most relevant to their specific roles, to ensure efficiency.
Embracing technological advancements
The emergence of blockchain technology, 3D printing, and robotic equipment are all examples of technological innovations that could transform the manufacturing industry. The genie is out of the bottle when it comes to automation, so businesses need to find a way to use it to their advantage, rather than fight against it. The CEO ought to be across any technological advancements that could impact their field and be proactive in coming up with ways to harness those for the organisation’s betterment.
Fostering a culture of continuous improvement
CEOs can hammer home ‘efficiency’ as a buzzword but, ultimately, for their plans to work, they need buy-in from the rest of the business. Employees at all levels ought to be encouraged to exercise a degree of autonomy in thinking about ways to improve the efficiency of the organisation. They are the people closest to the everyday detail, which is often where the biggest strides can be made, so it’s important to communicate the message that their opinions and contributions are valued as highly as those at the C-suite level.