Industrial activity is booming all across Australia. The manufacturing sector, for instance, is expanding at the fastest rate seen in the past 15 years, according to Business Insider. That market growth means there's a lot of opportunity for companies in industrial fields to grow their business and increase revenue. However, unforeseen operational disruptions could set businesses back and make it difficult to catch up in such an active market.
To capitalise on these trends and drive profitability throughout the new year, industrial operators should make it a priority to ensure each site runs as smoothly and efficiently as possible. Here's how you can do it.
Replace aging equipment
Faulty or outdated equipment presents a significant risk to site operations. A single broken component could disrupt production for days, weeks or longer. Companies cannot afford to wait that long to get operations back up and running. Depending on the exact nature of the malfunction, companies could lose out on a significant amount of revenue. That's before accounting for the cost of replacing expensive machinery or any safety regulations that need to be addressed.
If you know critical equipment is nearing its end of life, proactively aging out that machinery is the prudent move. Delaying replacement introduces unnecessary risk that could otherwise be avoided. Companies can ease their financial burden by leasing, rather than purchasing, industrial machinery.
Invest in automation
Automating core processes improves efficiency and productivity while driving down operational costs. It also drastically reduces instances of work stoppage due to manual or human error, maximising site performance and output.
Workers benefit tremendously from increased automation as well. They are asked to do less hands-on labour with industrial machinery, which greatly reduces the chance of an on-site injury.
Conduct site audits
Underlying issues at your site could emerge at inopportune times, causing operational disruptions and even grinding production to a halt. You can get ahead of such problems by auditing operations on a regular basis. Working with expert industrial site auditors, you can spot lingering issues in your equipment and processes, giving you ample time to address them.
A site audit could bring to light any number of potential concerns regarding critical industrial machinery. For instance, a malfunctioning tramp metal detection solution may not catch the presence of errant material on conveyor belts. That material, in turn, could damage important equipment like jaw crushers.
SRO Technology auditing services can help any organisation assess the performance of their industrial operations, identify potential risks and find opportunities for improvement. Contact our team today to learn more.