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Thursday, October 8, 2009

Re-Engineering to improve Functions of Precision Engineering Company


In an organization the daily routine work cannot remain same for a long time and it may needed to be re-engineered with the passage of time. Especially in precision engineering companies the perfection and up to date working ability is only possible with the change in pace with the modern flow. This is the reason why almost every organization tries some way or the other to update its processes using re-engineering techniques.

Let’s have a closer look upon the functionalities of different posts within an organization and the impact of re-engineering in their services:

Financial Analysis:

At first the precision engineering company should observe from financial perspective to determine if there are areas where the financial performance of the company can be improved. Here are examples of the areas you should research:
  1. How timely is your submissions of claims? That is how timely you are accomplishing your jobs and ordered engineering design weather it is manufacturing or designing.

  2. What is the rejection rate of claims submitted that could be remedied by better coding?

  3. Are you fully maximizing the settlement rate for claims? If not, why?

Operational Analysis:

Work flow diagrams are the basic need of the operational analysis. Precision engineering services are widely dependent on operational management in order to finish a sequential engineered product. Workflow charts that should be developed include how clerical procedures are handled such as processing of a new product, submittal of claims, product recordkeeping and finishing.
  1. Is the specific step necessary or can it be eliminated?

  2. What is the cost of an individual step? Could the step be performed more cost effectively? If yes, what is the most cost effective approach?

  3. Could this step be performed more efficiently? If so, what would be a better way to perform this step?

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