Production During a ramp-up period in your business, you will likely need to increase your production efforts in order to satisfy the increased demand for your products. Make sure your sales teams are fully acquainted with the product or service that will be highlighted throughout the campaign.
Rarely will a company publicly state that it is ramping down. If possible, give these teams prototypes or actual product so that they can build their own sales strategies around the features. These production ramps result in both sales and margin growth for ATI due to improved product mix, volume growth and increased asset utilization.
A ramp-up period typically requires a large amount of preparation, from product manufacturing to communications to marketing. These needs might include customer service, shipping and accounting. Leveraging this in online discussions via social media is also important during the ramp-up period.
Part of the challenge of adding employees is ensuring that all are trained and ready to go when your product hits the market or you launch your campaign.
Marketing The ramp-up period is a time when your marketing department can generate awareness, buzz and excitement about your new product, brand or seasonal surge in business. The prudent investor, however, should be on the watch for too much exuberance.
This could be before a product launch, before a major buying season like summertime, back-to-school or holidaysor prior to a rebranding period or special promotional event.
Communicate with other employees — like customer service, HR and accounting — to prepare them for the increased workload ahead. Because of the increased business, however, you may need to increase the number of employees in departments other than sales as well.
We are still in the early phases of this industry-wide production expansion and we expect the benefits to ATI to continue in and through the end of the decade.
For this reason, a company will generally only consider a ramp up once it has a reasonable degree of certainty about additional demand. Alluding to the foregoing, if a company states that it will ramp up production of goods it could also say that it will ramp up the purchase of automation equipment to support the planned capacity expansion.
Rife Ramp-Speak Ramp up is a term that rolls off the lips of confident executives who expect propitious economic conditions in general and brisk demand for their products in particular.
Human Resources If your company is unprepared for a surge in business from a manpower standpoint, the ramp-up period is a good time to hire the support staff you need and train them up.
Communication A ramp-up period is the time to communicate with your employees, your customers and your investors if applicable. Making sure your website is updated with the latest news and information. Make sure you have solid production and shipment calendars in place, especially if your business has several locations.
Good communication is key to generating enthusiasm for your new product launch or other promotion. Otherwise, if the anticipated demand does not materialize or is below projected levels, the company will be saddled with excess inventory and surplus capacity.
The ramp-up period gives you time to make sure proper training is covered.In addition, net oil-equivalent production for the first quarter of this year was 5 percent higher than a year ago, largely due to the ramp up from our major capital projects and strong performance in our mature business operations.
In any business's life cycle, the ramp up is a time when the quality of execution is crucial, because the skill and effort it takes to increase a company's output requires expert capital deployment and management ability.
The verb "to ramp" entered English in the 14th century, and the expression "ramp up" was first applied to climbing plants such as vines. From this usage, "to ramp up" came to mean a general escalation or a rapid increase in activity. Ramp-up in business and economics is a term that is used in describing the in- crease in an organisation’s production ahead of planned or anticipated increase in the demand of the product.
Ramp-up is a term used in economics and business to describe an increase in a firm's production ahead of anticipated increases in product demand. Alternatively, ramp-up describes the period from completed initial product development to maximum capacity utilization, characterized by product and process experimentation and improvements.
ramp-up definition: a large increase in activity or in the level of something. Learn more.Download