5 Simple Ways You Can Improve Your Operational Efficiency Right Now

StrategyDriven Managing Your Business Article |Operational Efficiency|5 Simple Ways You Can Improve Your Operational Efficiency Right NowYou’ve heard this popular phrase more times than you can count: time is money. Of course, time isn’t literally money – but it’s pretty close.

Many managers throw money into marketing when trying to increase profits. While marketing is undoubtedly an essential part of a successful business, if you’re overlooking operational efficiency, you’re going to miss out on a portion of the returns that come from a great marketing campaign.

To improve your operational efficiency, consider these five simple tips that you can implement today.

Improve and increase your analytics tracking

First thing’s first: if you don’t know where your operational efficiency is lacking, you can’t fix it. To improve efficiency, you’ll first need to make sure you’re able to see your data and analytics in real-time.

This means that if you’re still using Excel spreadsheets to track data, it’s time to make an upgrade. There are many different types of analytics software on the market today, including SAS Business Analytics (SAS BA) and Tableau Big Data Analytics.

Take some time to research your options, and invest in a software program that fits your company’s needs and goals.

Increase automation

If your IT and administrative staff are filling their time with tasks that could easily be automated, you’re wasting both their potential and your company’s operational efficiency potential.

Any task that has a repetitive nature can easily be automated. Using your data analytics, pinpoint tasks that are taking up a lot of your employees’ time and automate these. Automation will allow your staff to spend more time on the non-repetitive tasks, which is where they really shine.

Emphasize training

Poorly managed companies don’t just hurt their employees; they hurt themselves too. If you’re not putting your employees first, your business will never flourish as much as it could.

One important way to put your employees first is to make sure they receive substantial training. Don’t just do the bare minimum; make sure they don’t just know how to complete their job duties, but they have the tools they need to excel at them.

Proper training also prevents workplace injuries, thereby keeping your employees at work.

Use load boards

If your business regularly ships supplies or products, you may be able to increase operational efficiency by using a load board. Load boards are similar to a job board in that they are a resource for both shippers looking for carriers, as well as carriers looking for loads.

Load boards are mutually beneficial, as they help shippers quickly find a carrier without spending time calling and emailing. Additionally, carriers benefit by maximizing their earnings by filling their trucks to the maximum load.

Improve cross-department communication

Though your department may be communicating effectively top-down and vice versa, if there are communication issues between departments, your operational efficiency is being sacrificed.

Improving your communication software doesn’t have to be costly; it just has to work for your company’s unique needs. Set up a meeting with departmental heads and come up with a strategy to improve communication between yourselves.

This will save all departments substantial time, which at the end of the day is what operational efficiency is all about.