There isn’t a business in the world that could survive without a wide profit margin. That’s a given. However, sometimes it’s the seemingly little things that interfere with the amount of profit a business realizes after all the accounts are balanced.
If you are the owner or director of a manufacturing company looking to step up production, but unable to come up with a workable plan to do so without going into debt, have you considered all that waste you are having carted away each week? Waste management can be the key to your salvation if for no other reason than to step up profits. Here’s how that works.
Why Waste Is One of Your Main Detriments to Profitability
Many manufacturing companies around the world, more than 4,000 to be exact, have turned to an innovative waste management company, Lundbergtech, in Germany. What they have found is that as waste gathers on the production line, work is halted so that clean-up can commence. That not only wastes time but also manpower hours being paid while clean-up is dealt with.
With the right waste management solutions, workers can stay on the line while machinery operates in the background to continue keeping the area clean. Sometimes all it takes is a ‘touch-up’ at shift change to keep production rolling around the clock. Every hour lost to cleaning takes a big chunk out of profits at the end of the day. Keep that in mind as you consider ways to manage waste seamlessly while the production lines roll on.
From Trash to Treasure
You may have heard the old proverb, “One man’s trash is another man’s treasure.” In life, especially in business ventures, this is one of the wisest concepts to grasp. Just because it’s ‘waste’ to you doesn’t mean it isn’t useful somewhere else. By collecting scraps of metal, for example, you can sell them to be recycled which will add to your bottom line. Why throw all that money away?
Keep a separate account and let it accrue so that you can eventually use your ‘recycle account’ to buy new machinery or perhaps even build a new plant for expansion. So many businesses let their waste be hauled away and the worst part is that they pay to do so. Why would you pay someone to pick up your waste only to have them profit from picking it up? By instituting your own waste management solutions you’ve saved money on waste removal plus you are recycling that waste to earn a profit. Isn’t that a logical solution?
Sustainability at Its Best
There is one other perk you may not have thought of as well. Today’s consumer is all about sustainability. Bear in mind that Millennials are now the largest consumer group with buying power and they want to know that the companies they deal with are green. Market your efforts to reduce waste in an effort to recycle whatever you can, and you will see your market base grow exponentially.
Effective waste management is sustainability at its very best, and better yet, profitable. See for yourself!