Top Uses of Analytics in Manufacturing
The supply chain, and manufacturers in general, have really been put to the test over the last couple years. Manufacturers quickly realized they can only be as productive and profitable as its supply chain allows. Businesses are relying on their ERP system to help manage the variability with vendors and pricing models, and overall supplies and raw materials. With visibility into the inner workings of your supply chain, you can get clearer picture of your own inventory and a better understanding of how long that inventory will last.
Using analytics allows a manufacturer to generate reports on all the suppliers it currently uses, along with all the other potential supplier relationships within a certain proximity or other criteria. This allows them to make choices based on pricing, inventory, and potential environmental constraints. It also gives them leverage when negotiating, as well as the ability to consolidate the supply chain across as few vendors and pricing models as possible.
Some other top uses of analytics in manufacturing include:
- Improving manufacturing quality
- Better forecasts of a production plant
- Continuing manufacturing process improvement
- Improved customer service and support
- Better forecasts of a production plant
Analytics will not change what you already do successfully, or even how you do it. But it can help you do things better, faster and with less waste and more efficiency. If you would like to learn more about how you can use analytics within your business, give 2W Tech a call today. We are a technology service provider specializing in solutions for the manufacturing industry. We have IT Consultants on staff that specialize in business intelligence and data analytics.
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