Categories: Business & Finance

Easy Ways to Save Money In Your Manufacturing Plant

January 5, 2021

Manufacturing is a necessary business. It creates thousands of products consumers want and need every day. However, it can be a very expensive business, and often those expenses are passed on to consumers who would rather look for cheaper products from a competing manufacturer.

To avoid losing consumer sales, you need to find easy ways to save money and cut costs in your manufacturing plant. There are several ways you can do this. The following are just a few suggestions with which you can start.

Have an Onsite Metal Recycling Plant

A lot of metal scrap comes out of many manufacturing plants. If you find that your plant frequently sends out several loads of metal scrap every week, you are losing money. You have to pay to recycle all that scrap, and you lose all of that raw material you could be converting back into a manufacturing resource.

Instead, create an onsite metal recycling plant. If you don’t have space you could convert into a smelting and refinery factory adjacent to your plant, you may have to build it. However, the millions of dollars you will save in recycling your plant’s scrap metals every year will more than make up for the expense of creating your onsite recycling plant.

Consider the Benefits of Thermal Enhanced Oil Recovery

Thermal enhanced oil recovery is a process that recycles oil and converts crude oil to usable products with a lower viscosity. Part of the process creates steam, which doubles as an energy source for other functions in your plant. It is a “greener” method of recycling and converting a fossil fuel resource while creating other energy sources for your plant. It helps make your plant more self-reliant and not dependent on outside sources too. As such, it cuts back on the costs to purchase oil, gas, and equipment to create steam, hydropower, etc..

Use Other Natural Energy Sources

Consider wind or solar power to power your plant. Not relying on electricity generated by man made machines reduces a massive expense your plant faces every month. Solar power is the easiest conversion to make, and it generates a ton of cheap power.

Power is your biggest expense in manufacturing. If you learn how and where to cut this expense, you’ll save millions. Materials and resources are your second biggest expense. Figure out where and how to recycle, reduce, and reuse materials and resources and these expenses will drop too.

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