Operational efficiency and workflow optimization at Ferdous Steel Ship Recycling Industries

Abstract

In the present report, the existing operational inefficiencies at Ferdous Steel Ship Recycling Industries (FSSRI), one of the major companies in the coastal area engaged in ship recycling in Bangladesh, will be analyzed and the ways to enhance its workflow will be proposed. Some of the major problems the report identifies are the gaps in communication, mismanagement of available resources, using obsolete machinery and slowing down during the process of procurement which is affecting the performance of the FSSRI making it difficult to be efficient and respond effectively in the global environment. This report will provide a solution to the given problems with the help of such operational frameworks as Lean Management, Six Sigma, and Predictive Analytics. The possible recommendations are the use of automated systems, the enhancement of communication tools, and predictive maintenance technologies in order to decrease costs, increase productivity, and realize overall efficiencies of operations. Concluding the study with the last analysis point, the anticipated impact of the alterations on the payroll of the company and its operation Cycle, it was emphasized that modernization and optimization were the potential ways to defined the long-lasting success of FSSRI.