How to Improve Operational Efficiency With Technology

Summary: Learn how popular companies utilized tech to realize operational efficiencies.

Improving your ability to make money is a great plan, right? Of course. The only question is, how? When it comes to widening profit margins, operational efficiencies and finding way to improve them are key. Any businessperson will tell you that when it comes to making more money, start from within.

Trimming the fat on your own operations can lead to a better, more streamlined business. It can also improve employee performance, and a well-run company will produce a good product, get it to market to meet demands, and thus create happy customers. If your operation is clunky, that will eventually translate down to the consumer through order back logs and no stock on shelves. Not good for business.

As technology advances, A.I. and robotics become more and more accessible and easy to integrate into business functions. Investing in robotics or A.I. for some functions of your business can save you lots of money in the long run.

There are creative ways to improve your operational efficiencies too. Let’s look at some real world businesses who went outside of the box to be more efficient using automation.

McDonald’s and Grocery Stores

McDonald’s is a hugely popular enterprise with almost 40,000 locations all over the world. They employ almost 2 million people and serve a whopping 69 million people per day! You can imagine that they require efficiency just to meet customer demand daily, let alone to save money. If you have been to a McDonald’s recently you will have seen their automated kiosks. These kiosks allow the restaurant to take and process customer orders without customers needing to interface with an employee. This is great because it reduces lineups and the need to have a half dozen cashiers working at once. It allows them to focus their employee hiring on management and production jobs, rather than customer service ones. For them it was a great way to reduce hiring needs without impacting customer service.

Grocery stores have also moved toward automation. Most grocery stores, at least larger ones, have automated cashiers, allowing consumers to scan, bag and pay for their own food. This is great for those with small to moderate loads of groceries. It reduces lineups and the strain on cashiers, as well as allows the consumer to better control their shopping experience.

UPS and Amazon

Both of these companies have found a way to utilize drone technology to their advantage. Drones are nimble and quick, and are not impacted by traffic jams. By utilizing larger, stronger drones, these companies will reduce the amount of shipments constrained by ground movement. Packages will be delivered more quickly and face fewer delays. This will allow shippers to vastly improve their wait times, reduce their carbon footprint and improve customer satisfaction.

Ford

The Ford Motor company has found a way to use small drones in their engine facilities. The drones travel around, monitoring the building process, and when required can inspect difficult to reach sections of the engine. Flying about the facility and available at a moment’s notice, these drones are a great quality control asset and reduce human error.

All of these businesses found a way to utilize burgeoning technology to their advantage and are reaping the rewards. There is always a way to incorporate tech into your business to save money. Whether you create an app that eliminates your need for customer service reps, or you go paperless, or you take advantage of analytics to help you streamline your customer’s experience – there is a way out there for you. All you need to do is get creative and make finding opportunities for operational efficiencies your goal. Contact The Burnie Group for more corporate development opportunities.

Hi! I'm Stevie, and I'm interested in everything that surrounds the topic of personal finance. I hope my articles will be of some use to my readers!