How Manufacturers Can Navigate the Industry’s Recent Productivity Surge

Back in February, new data from Bank of America showed that the average revenue per worker for companies in the S&P 500 hit an all-time high after 15 years of stagnation. According to the data, the productivity rate for these companies, which had been roughly 1.6% annual growth from 2005 to 2019, has more than doubled surging to nearly 3.7% in recent weeks. 

So what does this actually mean? 

It means that manufacturing organizations are operating more efficiently and productively today than ever before. And companies in the industry are likely to continue expecting similar or higher levels of production efficiency going forward. 

This puts more pressure on manufacturers to achieve similar results and adds more stress on maintenance teams who must lead the charge on keeping assets running at maximum capacity to produce expected yields. While this certainly sounds like a challenge, with the right systems and strategies in place, it’s easier than you might think. 

Rising to the challenge 

To sustain this newfound level of productivity and continue to meet growing demands, manufacturers must find ways to support their maintenance and operations teams by utilizing solutions that enable proactive and predictive maintenance workflows. 

Getting ahead of challenges before they arise allows organizations to minimize unexpected downtime and increase the useful life of their key assets. This means equipment running as maximum capacity for as long as possible, with a reduce likelihood of breakdowns or failure. 

Another approach is to establish more streamlined work order management systems. By implementing systems that can automatically assign and track maintenance requests, companies can optimize their time and resources, minimize asset downtime, and maximize overall efficiency and communication across their organization.

Even as labor shortages continue to impact the manufacturing industry, asset management solutions can pick up the slack by ensuring maintenance teams can prioritize needs and focus on tasks most critical for long-term productivity. 

Finding the right solution 

Navigating the industry’s newfound productivity surge and maintaining these levels of efficiency and output mean manufacturers must cut down on unnecessary costs and improve profit margins, by leveraging data analytics to establish predictive and preventive maintenance workflows that solve challenges before they arise. 

Brightly offers cutting-edge solutions that are designed to cater to any manufacturer’s unique needs. That’s why we work with manufacturing companies in automotive, distribution, food & beverage, electronics, plastics & packaging, and more. 

Our CMMS helps companies enhance their maintenance management by optimizing labor resources, automating work order assignments, tracking asset data in real-time, and creating more productivity and efficiency across the board. 

Brightly’s goal is to give manufacturers the ability to forecast future events that could limit productivity, analyze and leverage data to make smarter, evidence-backed decisions, and proactively solve challenges before they occur to limit unexpected downtime and maintain consistent output levels. 

By embracing proactive maintenance workflows, streamlining work order management, and utilizing strategic asset management systems, manufacturers can not only meet the demands of today, but also thrive in the rapidly evolving landscape of tomorrow. Learn more about our Asset Essentials CMMS and our capital planning software Origin to discover how Brightly can help your operations become more efficient and productive today.