Manufacturing In Focus: The Whats, Hows & Whys of Innovation in Quality Control
5 Minute Read
The manufacturing industry is ripe for innovation, thanks to the finely tuned processes that see ideas transformed from concepts into products that sell.
Quality control presents one of the key areas for change. This is especially true for businesses keen to raise profit margins while maximising customer satisfaction with every sale.
Research and development (R&D) is the key to making sure all goods built on the production line meet strict quality control standards. With a successful claim for R&D tax credits, you can develop first-grade products whose value for money couldn’t be clearer.
We’re taking a closer look at the whats, hows and whys of innovation in the world of quality control. With this guide, you can innovate product quality and find vital funding for these worthwhile R&D projects.
What opportunities for innovation are there in quality control?
The quality of the final product is vital to its sales potential. This quality is influenced by many factors – from the production process to the quality control checks completed before a product is packaged, shipped and sold.
Whether you’re manufacturing clothing, food, electronics or just about any other product under the sun, here are two key ways you can innovate quality control at your facility:
- Perfect the production process: any manufacturer knows efficient, predictable, finely tuned systems are key to product quality. By developing more efficient production processes, you can rest assured that quality will be heightened while the speed of production increases
- Invest in new machinery: the perfect companion to your well-oiled production process is state-of-the-art machinery able to automate parts of the process. This way, relevant tasks can be completed in a mechanical, uniform way. Better yet, emerging technologies are making final quality checks more efficient and effective. Together, you have a seamless and successful system from start to finish
How can you make these innovations possible?
Research and development. The answer is easy, but making this a reality is a little more challenging given the costs that come with it. In the manufacturing industry, for example, cutting-edge technology is a necessity rather than a nice-to-have.
Thankfully, R&D tax credits give ambitious manufacturers the financial lifeline they need to innovate. By claiming on qualifying activity, you can enjoy tax credit relief. This financial boost could provide the capital you need to renew your production process or invest in swanky new equipment.
Your first port of call is finding out whether your business is eligible. And that’s our bread and butter.
Why should your manufacturing facility invest in innovation?
Innovation is the heart and soul of industry. Today’s manufacturing processes were once blueprints mapped out by manufacturers with a knack for creative problem-solving.
There are so many benefits to investing in quality control innovation. Here are just a handful to get you started:
- Increase customer satisfaction: improved product quality means happier customers. Happier customers are more likely to buy again, and more likely to refer their friends
- Build a brand reputation worth having: delivering consistent quality across your products helps your business to build a good reputation
- Boost profits: cost-effective production methods plus higher quality products (and, in turn, more satisfied customers) equals a greater profit
- Keep pace with competitors: you can bet your competitors are innovating. Avoid being left behind by implementing new industry-standard processes and investing in the latest machinery
- Pave the way in your industry: why settle for keeping pace? If you pride yourself on staying one step ahead of the competition, use R&D to find new, creative ways to improve quality without compromising elsewhere
The benefits are clear. Quality is the measure of success in manufacturing – and R&D tax credits are your golden ticket.
Contact Lumo now to find out whether your business is eligible. Take the first step towards a new level of quality control and all the rewards that come with it.