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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!

sensor data analytics

Sensor Data Analytics: Helping Manufacturing Companies to Uncover New Opportunities

With the growing popularity of digital platforms, customers, suppliers and business partners need greater agility, speed, and scale from manufacturers. As a result, there is a need for fully integrated and collaborative manufacturing systems that can respond in real-time to meet the changing demands and conditions in the supply chain. This is where sensor data analytics can help. Sensor data analytics has enabled companies to drive greater possibilities for different kinds of distributed data sharing and analytics. It can help manufacturing companies to extract actionable insights from embedded sensors to drive organizational improvements and profitability. Also, disparate and deployed industrial assets and connected devices can provide manufacturing companies with a unique touchpoint to real-world operations and conditions.

Quantzig’s big data analytics experts can help you improve operations, ensure compliance, perform predictive maintenance and better manage the uptime. Get in touch with them right away.

sensor data analyticsBenefits of Sensor Data Analytics for Manufacturing Companies

Benefit #1: Optimize production and enhance efficiency

Manufacturing companies have a plethora of data sets which are mostly underutilized as intricate access makes valuable insights sluggish. Sensor data analytics can add a new dimension to such datasets with connected assets and sensors. This can, further, help manufacturers to quickly capture, cleanse and analyze machine data. Consequently, valuable insights can be derived that can help optimize production and enhance the efficiency of performance.

Our sensor data analytics solutions can help businesses to leverage cognitive technologies to analyze and visualize machine data in real-time. Request FREE proposal to gain in-depth insights into our portfolio of big data analytics solutions.

Benefit #2: Predict machine failure and quality improvement

Sensor data analytics can help manufacturers to make better use of machines. It can help in automating the analysis of data from sensors within equipment and the actual operation of these machines. Also, with the help of sensor data analytics, manufacturers can determine when machines may need to shut off to prevent an issue. Furthermore, sensor data analytics can aid in aggregating data faster by leveraging advanced data management techniques. Consequently, the overall quality of production can be improved, helping manufacturers to build a better plan of action.

Gain real-time insight into your asset deployment, utilization, and resource consumption rate with our sensor data analytics solutions. Request FREE demo below to know more.

Benefit #3: Facilitate preventive maintenance

In the manufacturing industry, preventive maintenance holds immense importance. Sensor data analytics helps in preventive maintenance by reducing the issues found in devices by triggering alerts based on the data generated by machines. Also, sensor data analytics has the potential to automatically signal the repair of a machine when needed. This further helps manufacturers to take preventive measures and improve the efficiency of machines in the course of conducting business. Therefore, sensor data analytics can empower manufacturing companies to ensure that modern manufacturing processes meet future business needs.

To learn more about how sensor data analytics can help you improve your manufacturing processes, request for more information now!

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

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4 Major Impediments That the Manufacturing Industry Must Tackle

Despite the common conjecture that the manufacturing industry in the U.S. is taking a downturn, it still produces over 18 percent of the world’s total goods. This clearly goes out to prove that despite several hindrances, the manufacturing industry is on its way to resurgence. This can be attributed to the advent of new technology and lean manufacturing processes combined with a strengthening economy. However, there is no time for players in the U.S. manufacturing sector to unruffle, they must devise a new game plan to tackle challenges that come their way and continue their upward momentum.

Challenges facing the manufacturing industry

Shortage of skilled labor

The fact that the baby-boomer generation is entering into the retirement stage has taken a major hit on manufacturing companies. But the good news is that with the advent of technology, players in the manufacturing industry can gradually replace human labor with machines and employ candidates with a variety of other skill sets including proficiency in mathematics and analytics. The largely unskilled, trainable workforce that once made up a major portion of the employees in the manufacturing industry can now be replaced with automation and machine sensors. Moreover, AR and VR technologies are now making it easier for companies in this sector to train the workforce on the job while cutting costs.

Rising competition

Manufacturers in the U.S. face competition from all corners of the globe. In the recent year, China has proved to be one of the biggest competitors for the U.S. manufacturing industry as they are known to produce products for a fraction of the price that it would otherwise cost to make those same products stateside. Players in the manufacturing industry need to make their value known in order to combat global competition. Companies in this sector must constantly leverage the expertise of their people, improve their speed to market, undertake better innovation, and ensure supply chain efficiency, all this at the minimum possible cost.

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IR17

3 Key Trends in Industrial Automation Systems

Technology has massively evolved over the last two decades and has transformed the nature of manufacturing and industrial operations. Today, industries are no longer completely dependent on their human workforce for complex or simple tasks. The advent of IoT and machine learning has given industrial automation systems a competitive advantage. Automated production is efficient, reliable, transparent, and predictable when integrated end-to-end. Today, man and machine are working more closely than ever before and industrial automation systems are a very good example of the same. The implementation of new technologies in industrial automation systems is creating opportunities for manufacturers, globally. Industrial automation systems help achieve consistency, quality, and reliability in the manufacturing process and also help in controlling and monitoring data at multiple points efficiently. In this article, we have discussed a few influential trends in industrial automation systems that fuel the excitement surrounding the automation process. But before we jump onto those trends, let’s understand different types of industrial automation systems based on their integration level and flexibility in the manufacturing operations and processes.

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The Future of Artificial Intelligence: Is AI the New Star on the Factory Floor?

The manufacturing sector has been an aggressive user of robotics and mechanization for decades. Artificial intelligence is clearly the next step for companies in this industry to improve productivity, production line, and tooling utilization, and minimize the production cost per unit. With the increasing application of AI technology into various functions, the future of artificial intelligence seems to be a bright one in the manufacturing space. The use of artificial intelligence in the manufacturing sector will take the functioning of machinery to the next level from merely doing what they are originally programmed to do. Such machines can now mimic human actions and display enhanced decision-making capabilities. Moreover, by showcasing better sensory capabilities; and, off the factory floor, predicting what will be needed and when the future of artificial intelligence in the manufacturing sector is already becoming feasible in emerging markets. Employing AI in manufacturing plants enables companies to completely transform their proceedings.CTA QZ

Future of AI in manufacturing

New manufacturing markets

As far as the manufacturing sector is concerned, capital margins are often higher when compared to the profit margins. This has fueled the shift of manufacturing facilities to lower-wage countries, where the costs of labor are low. Here, capital investments in AI and automation were hard to justify for companies in the manufacturing sector. However, the rising -living standards in low-wage countries like India and China have opened new doors for the future of artificial intelligence. In fact, China is already investing significantly in artificial intelligence for manufacturing and e-commerce. Though workers in the manufacturing sector are already lamenting the loss of jobs due to automation and machinery that work on AI technology, companies are now looking at ways to retain these workers. The workers are now being planned to be put to perform higher-level design, programming, or maintenance tasks. However, the real driver will be to develop applications for AI in manufacturing that not only automates tasks but also makes entirely new business processes feasible.

demand and capacity planning

Manufacturing Technology Trends: What’s New in 2018?

The face of manufacturing technology is gradually being transformed by the digital transformation of manufacturing, ongoing convergence of IT and OT, and the usage of IoT in combination with several other technologies. Just like how industrial revolution had an impact on manufacturing, now, digital transformations are all set to bring big changes in the manufacturing landscape. Manufacturing companies are now able to shift from traditional mass production to customized production with the help of advanced technologies. Furthermore, the highly dynamic consumer expectations and the advent of connected devices and platforms are driving the persistent digitization of the manufacturing process. Also, sustainable alternatives will replace existing processes, and manufacturing companies will soon find it difficult to avoid the IndRequest Solution Demoustrial Internet of Things (IIoT). Here are some of the manufacturing technology trends to watch out for in 2018: 

Green manufacturing

Manufacturing companies are now pushing for green, sustainable alternatives rather than traditional manufacturing. Green initiatives are becoming essential components for saving money for manufacturing companies. The availability of raw materials and resources becoming tighter each day is giving rise to a circular economy.  In a circular economy, recycled and reusable materials can be processed and used to reduce the cost of manufacturing items. Green manufacturing is one of the manufacturing technology trends that will grow in importance this year as green initiatives are pushing consumers toward companies that embrace sustainable motives.

Off-site IT investments

In-house IT departments are becoming obsolete in the manufacturing industry.  Cloud-based technologies are gaining more momentum and major manufacturing companies are planning to increase their investments in customer relationship management (CRM) tools. With the growing need to enhance cybersecurity, more companies will outsource their manufacturing technology and IT services to third parties who provide additional, value-added services. This change will also help small and medium-sized businesses to easily access the latest technologies with reduced investment requirements.

Customization in inventory management

Traditional inventory management systems will soon become outdated in the manufacturing industry. Companies will soon revamp their manufacturing technology and inventory management using advanced computer analytics systems to manage inventory in real-time. This has a variety of benefits including reducing overhead and improving operations, eliminating shrinkage due to theft, and avoiding damages and errors during shipping.

IoT and industry 4.0

IoT is rapidly becoming an indispensable element in manufacturing technology. With the help of this connected technology, manufacturing companies have streamlined and simplified various processes.  IoT in manufacturing technology can provide real-time inputs and alerts with which companies can easily detect defects or damaged goods. Such simple yet critical implementations of IoT helps reduce cost and wastage. Industry 4.0 is the current trend of automation and data exchange in manufacturing technology. This has given rise to smart factories in which cyber-physical systems evaluate the physical processes of the factory and make decentralized decisions.


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