Navigating Manufacturing's High-Speed Journey with Lean

The manufacturing world moves at a pace that could make even the speediest of us break a sweat. With businesses constantly striving to keep up with the latest technological advancements and market trends, falling behind isn't an option—it's a risk we simply can't afford to take. That's why we're here—to guide you through the latest innovations and trends that are shaping the future of manufacturing.

The Timeless Appeal of Lean Manufacturing in 2024

The modern-day era is marked by unpredictable market shifts, whether it's global supply chains grinding to a halt because of an unlikely incident in the Suez Canal, or major wars affecting international markets.

In 2024, no external factors should be taken for granted, meaning that manufacturing businesses should have efficient, adaptive practices in place so that they can deal with uncertainty and factors which are beyond their control.

The reason is simple: businesses which implement Lean Manufacturing secure an ingrained workforce advantage and increased productivity, all of which help them withstand and respond to the technological innovations and major market shifts that define the modern-day business world.

Here, we look at how Lean Manufacturing can offer exciting opportunities for businesses in 2024.

Lean 4.0: 20% of the Work You’re Paying People for Is Waste

Right now, everyone’s feeling the pain of not enough people to get the work done. While there are macro-economic factors at play that are largely out of your direct control, you can certainly optimise the people you do have available. And adopting a Lean 4.0 mentality is the first step.?

Wait, wait, wait, you say. You’ve heard the buzz about Lean 4.0. But what does it have to do with people? Isn’t it all about IIoT?

Yes. And no.?

Connected machines are certainly a central component of Lean 4.0. But in the TBM view, Lean 4.0 is bigger than that. It’s about minimising all waste and optimising all resources. And your people, especially right now, are an excellent place to start, given that about 20% of the work they are currently doing is not generating any value or return for your business.

Understand more how Lean 4.0 approach optimises human resources in two ways.

Lean and 'Precision of Execution'

While many European organisations have lagged in fully embracing lean manufacturing principles, right now, the pressure to get on board with operational excellence is clear and present. But change takes more than a sense of urgency. It requires capacity, shared vision, and the right action steps to make it happen.

Getting these three elements right comes down to Precision of Execution— the behaviours, process discipline, standards, and structure that allow companies to successfully identify areas for improvement and implement changes that lead to sustained cost savings and efficiencies. Companies that master Precision of Execution are fastest and best at achieving breakthrough performance, or sustainable impact of up to 10-30% depending on current state.

Here are five ways to develop Precision of Execution and establish the prerequisites for profitable change.