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manufacturing industry

Why Analytics Presents a Game-changing Opportunity for Players in the Manufacturing Industry

Today data and analytics solutions that leverage artificial intelligence, big data, and business intelligence are defining a C-level agenda that forms the basis for all digital transformation initiatives of players in the manufacturing industry. While manufacturers possess huge volumes of unstructured machine data, not all possess the ability to analyze and extract insights from it. But with a powerful manufacturing analytics strategy, manufacturing industry players can tap into this information, converting data into actionable insights to improve decision-making and drive revenue.

Though the data deluge may seem like a challenge, it’s crucial to note that if analyzed properly, data has the potential to become an organization’s most valuable asset. Moreover, the evolution of data is poised to accelerating owing to the evolution of Industry 4.0 and the automation of manufacturing processes. Which means to gain control of this data, businesses that operate in the manufacturing industry must leverage new technologies and advanced manufacturing analytics solutions that turn data to insights. However, the manufacturing industry has traditionally been slow to adopt new technologies and many organizations may find it difficult to fully benefit from investments in digital technologies. This article highlights how manufacturing analytics can improve operational efficiency, productivity, and create a competitive advantage by offering new business opportunities within the manufacturing industry.

We offer customized analytics solutions to help our clients tackle the most pressing challenges in the manufacturing industry. Request a Free brochure of our analytics solutions to learn more about our manufacturing analytics solutions.

Challenges Facing the Manufacturing Industry

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manufacturing analytics

4 Ways Manufacturing Analytics Can Help Businesses to Optimize Their Operations and Reduce Costs

Businesses that can constantly discover new ways to streamline their operations are successful in the manufacturing industry. Earlier manufacturing companies used to invest a lot of time and resources to examine every single manufacturing process, testing and re-testing innovative ideas and finally implementing changes. However, with the advent of manufacturing analytics, today businesses are able to improve their manufacturing operations more efficiently. With the help of manufacturing analytics, businesses can easily streamline their operations by gaining actionable insights that can further help them to fine-tune their production line. In this article, we have highlighted four ways in which businesses can make noticeable improvements in their manufacturing operations using manufacturing analytics.

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Benefits of Manufacturing Analytics

Production schedule and capacity optimization

When it comes to production scheduling and capacity planning and optimization, most organizations tend to have a hard time. They find it difficult to minimize the discrepancies between their capacity and the demands of their customers. Consequently, most of them are under-utilizing resources or are unable to fulfill customer demand. Manufacturing analytics can help companies in the manufacturing industry to identify, quantify, and prioritize margin improvement opportunities by offering detailed insights into SKU velocity, price band, and segment performance, etc. As a result, manufacturing businesses can improve their production schedule and capacity optimization techniques.

Quantzig’s manufacturing analytics solutions can help you streamline your production processes, improve supply chain efficiency, and increase customer service levels. Request FREE proposal to gain in-depth insights into our portfolio of manufacturing analytics solutions.

Packaging schedule optimization

Manufacturing companies mostly leave their packaging decisions to designers and marketing experts who know how to market and make the products reach to the target customers. Unfortunately, this takes a lot of time and consumes a lot of resources. Manufacturing analytics can help companies to cut down costs by minimizing the number of switches across the production and bottling lines. It can offer predictive scheduling analysis insights that can help companies to gauge resource availability, and resource utilization capacity to make predictions about future workflows.

Predictive maintenance and scheduling

Manufacturing analytics also helps improve production efficiency through predictive maintenance and scheduling. By leveraging advanced data analytics solutions, companies can improve the efficiency of production lines by predicting the number of goods that will pass or fail a quality inspection. Through predictive maintenance and scheduling, companies can precisely identify risks and failures of their assets and can improve their ability to be responsive to the unique pressures on each machine.

Request a FREE demo below to know how our manufacturing analytics solutions can help you to track all costing activities including resource consumption and final output costing.

Cost to serve optimization

Manufacturing analytics solutions that leverage advanced data mining techniques, can help companies to gain valuable insights into the actual cost of supplying a specific product to the customer by modeling all logistics activities in the network. Also, it can help businesses to quantify the value of negotiated service levels, shipment exceptions, and other overhead costs. With a robust manufacturing analytics process, businesses can not only gauge the profitability of products, customers, and routes to market but adopt a data-driven approach to decision-making on product mix, service mix and operational changes for each customer.

To learn more about the benefits of manufacturing analytics, request for more information right away!

manufacturing analytics

Manufacturing Analytics Helped a Leading Steel Manufacturing Company to Improve Product Quality and Enhance Operational Efficiency by 4x- A Quantzig Success Story

The client is a leading European steel manufacturing company that operates its steel mills all across Europe. The company is known for producing electrical steel, hot-rolled, steel plate, and stainless-steel products. The steel manufacturer approached Quantzig to leverage its expertise in offering manufacturing analytics solutions to analyze its production processes and optimize operational efficiency.

Companies in the global steel industry are facing razor-thin margins and are dealing with growing competitive pressures to bring quality products to the market faster and more efficiently than their competitors. Moreover, the constant fluctuations in the price of raw materials have put significant pressure on steel manufacturers. Therefore, companies in the steel industry are looking for better ways to stay ahead of the curve. Consequently, businesses are investing a considerable amount of capital into production process improvement to differentiate their offerings from that of their competitors’ products. To address these challenge manufacturers in the steel industry must leverage manufacturing analytics solutions to identify bottlenecks and optimize steel manufacturing processes.

Our manufacturing analytics experts help companies to tune production operations for minimal cost and risk while capitalizing on data.  Get in touch with them right away!

Business Challenge

The client, a leading steel manufacturer, wanted to produce better quality products that are innovative and reliable. Also, they wanted to reduce operational costs and improve operational efficiency. Furthermore, the client wanted to reduce their reliance on manual tracking systems that hindered their capability to predict machine downtime accurately. Therefore, the steel manufacturing company approached Quantzig to help them affordably capture valuable data and turn them into valuable insights. Also, they wanted Quantzig’s analytics experts to help them devise powerful strategies to improve manufacturing quality, efficiency, and performance.  

Quantzig’s manufacturing analytics solutions help organizations to reduce costs, improve productivity and minimize risk. Request a FREE proposal to gain in-depth insights into our portfolio of analytics solutions.

Solutions Offered and Value Delivered

The manufacturing analytics experts at Quantzig adopted a holistic three-phase approach to help the client tackle their core business challenges. In the first phase of this manufacturing analytics engagement, the experts focused on conducting an in-depth analysis of the client’s datasets to identify different data points such as cost of raw materials and time taken to develop each product. The second phase of the manufacturing analytics engagement revolved around identifying key performance indicators. The final phase of the engagement focused on developing and designing customized manufacturing analytics dashboards to capture real-time data and generate valuable insights.

We can help you detect, prioritize, and define warranty and service performance issues with the help of our manufacturing analytics solutions. Request a FREE demo below to know more.

The solution offered helped the client to reduce errors in manufacturing processes and focus on improving uptime. Also, the client was able to accurately predict downtime and quickly resolve issues. Consequently, they were able to increase productivity, reduce wastage of raw materials, and improve operational efficiency by 4X.

Benefits of Manufacturing Analytics Solutions 

MANUFACTURING ANALYTICSTo learn more about the benefits of manufacturing analytics, request more information.

Read our latest article to learn more about the importance of manufacturing analytics in improving business operations:

Manufacturing Analytics: Key to Drive Significant Improvements Across Business Operations

manufacturing analytics

Manufacturing Analytics: Key to Drive Significant Improvements Across Business Operations

What is Manufacturing Analytics?

Manufacturing analytics is a technique that integrates big data, predictive analytics and industrial internet of things with the manufacturing processes to bring efficiency in the business operations. Manufacturing processes are successful when businesses can streamline their operations. This is where manufacturing analytics can help. Today manufacturers can leverage manufacturing data analytics techniques to examine, test and re-test every single process and implement innovative ideas to make improvements in the business operations. Manufacturing analytics can make manufacturing processes faster and more efficient by offering more focused and actionable insights that can help companies to fine-tune their production line.

Our manufacturing data analytics solution can help you understand the cost and efficiency of your product lifecycle. Request a FREE proposal now to gain better insights into our portfolio of services.

manufacturing analytics

Benefits of Manufacturing Analytics

Decrease downtime

Manufacturers can maximize the operating time of critical assets by leveraging manufacturing analytics solution to anticipate their failure. By utilizing data analytics in manufacturing, businesses can gather historical data (structured and unstructured both) to gain in-depth insights into operations that can’t be assessed with conventional techniques. Using manufacturing data analytics, companies can identify the circumstances that tend to cause breakdown of a machine and monitor input parameters so they can intervene before breakage decreasing downtime. Furthermore, manufacturing analytics can help companies understand how downtime for a single machine can affect the manufacturing chain and how different configurations may improve overall efficiency.

Our analytics experts can help you make better decisions by visualizing how each aspect in your manufacturing chain impacts the final result. Get in touch with them right away.

Gain better insights into machine utilization and effectiveness

One of the major challenges that manufacturers face is wastage of time. While manufacturing chains can be built with efficiency in mind, different factors may play a contributing role in reducing the overall efficiency of the line because of poor installation, misuse, or simply a lack of downtime coordination. By combining existing IoT systems with manufacturing analytics solutions, companies can gain real-time insights into how well their manufacturing lines are operating. Also, it can help in generating actionable insights to help companies realize real improvements in the overall process.

Improve demand forecasts

Any product manufactured today aims to cater the demands that will emerge in the near future. This is the reason why demand forecasts are important from a business perspective. Demand forecasts guide a production chain and help identify the reason between strong sales and an unused inventory. For most companies, forecasts are based on historic values and not on more actionable forward-looking data. By leveraging manufacturing analytics solution, manufacturers can combine existing data with predictive analytics to build a more precise projection of future  purchasing trends.. These insights are derived not just from previous sales data but from how well current manufacturing processes are operating, leading to smarter risk management and less production waste.

Quantzig helps companies to develop effective strategies that can consistently guide them gauge their own need for repairs. Request a FREE demo below to know more.

Better warehouse management

Storage is generally the most overlooked aspect of the manufacturing process. Every stage is important when products are ready to be shipped especially in a world that is increasingly embracing zero-inventory models to reduce overstock scenarios. This is where warehouse management is important. Establishing an efficient warehouse management system can further improve product flow management, and improve business operations, as well as the bottom line. Manufacturing analytics framework makes it easier to understand how to improve your inventory and manage your warehouses better. This can, further, help in improving manufacturing KPIs and processes. By incorporating a robust manufacturing analytics solution companies can build a more granular understanding of how their production line operates, and how they can streamline it to avoid unnecessary costs

Why Quantzig?

Manufacturing leaders today are visionaries, pioneering increasingly efficient methods to produce and move physical goods while thinking beyond cost savings, productivity, and risk reduction. Future survival needs manufacturers to become nimble and analytics driven. This can help organizations minimize risk and seize opportunities through actionable operational insights and confident decision making. Manufacturing analytics solutions from Quantzig can help companies to fine-tune their production operations for minimal cost and risk while capitalizing on data as an asset that can further help them deliver innovative services and quality products. We, at Quantzig, deliver proven value and help leading companies unlock the immense potential of their digital transformation through our customized manufacturing analytics solutions.

Want to learn more about how manufacturing analytics can help you predict maintenance issues and prevent breakdowns? Request for more information now!!