Manufacturing waste is a major environmental issue. Even as businesses shift to greener methods and materials, overproduction and poor inventory management pose a serious threat to long-term solvency and sustainability. Luckily, with the advent of new technology, particularly data-driven inventory management tools, manufacturers, and stores have the opportunity to cut back on excess at every level.
The Benefits of Sustainable Manufacturing
There are countless reasons why businesses are interested in adopting more sustainable manufacturing practices, but the leading factors include public pressure, tax incentives, regulatory compliance, and cost reduction.
While these factors play a role in changing manufacturing norms, it’s also important to remember that a greater number of these businesses are already equipped with analytics platforms. The same tools companies use for labour management and warehouse optimization can also be used for forecasting and inventory management.
Spotting Trouble Spots
Certain industries stand to benefit significantly more than others from identifying overproduction, poor distribution, and manufacturing excess. Grocery stores and food distributors, for example, have recently faced serious bad press due to high levels of food waste in the US. Many estimate that as much as 40% of food is wasted before it even reaches consumers.
By using inventory data to examine sales patterns at varying …