LEAN initiatives are launched to offer a meticulous approach to understanding the value chain in a company, in which sources of waste are identified and eliminated in a sequence of steps, and business processes are restructured to create value rather than waste.

Fremont, CA: Advancements in the technology is driving the growth of Wire and cable industry. The industry is continuously innovating to meet the needs of emerging technologies and industries.

Let us look at the key trends in wire and cable Industry:

The LEAN Cable Factory

Top 10 Additive Manufacturing Solution Companies - 2020Industries are compelled to make continuous improvements to stay in the worldwide competitive marketplace. LEAN initiatives are launched to offer a meticulous approach to understanding the value chain in a company, in which sources of waste are identified and eliminated in a sequence of steps, and business processes are restructured to create value rather than waste. The right IT solution can support this process of continuous change by adding agility. The proper use of IT allows for the full utilization of employee capabilities.

Creating Value

Cable manufacturers can revitalize their power in the value chain by having an in-depth understanding of their customer demands. It would help them develop services and products that can create real value as well as give them a competitive advantage and a better negotiating position in the value chain. Nevertheless, agile and innovative IT solutions are a must-have for supporting and satisfying ever-changing customer demands.

Inventory Reduction

Inventory of finished goods and raw materials generally consume the biggest portion of a cable manufacturer’s current assets. Hence, reducing inventory is often the prime focus of company management. Companies need to have better visibility and measurement of supply chain inventory to manage and reduce inventories, which requires the right IT solution that can serve these purposes of the cable business.

See also: Top Electronics Manufacturing Consulting/Service Companies