Data analytics is at the core of Industry 4.0 or what some call the Fourth Industrial Revolution. This technology is reshaping the manufacturing industry in many ways by increasing transparency, boosting efficiencies and cutting costs.
Data analytics in manufacturing is all about aggregating and analyzing machine and process data to arrive at business insights. It is a powerful tool that helps companies to make informed decisions https://cobit-solutions.com/en/5-main-power-bi-reports-in-manufacturing-company/.
Get Insights
Manufacturers need to be able to see how their operations are performing and what improvements can be made. Data analytics tools empower decision-makers to do this by providing a clear view into the data that drives their businesses.
Data analytics also helps companies to predict future trends. This allows for better planning of customer demand, identifying risk in new business ventures and making the most of resources and production capacity.
For example, when it comes to managing OEE (overall equipment effectiveness) quality and tracking scrap rates, a manufacturing analytics tool like Mingo can help manufacturers track and display this information in a meaningful way. This enables operators to quickly and easily identify issues on the plant floor so they can limit losses.
In addition, data analytics can be used to reduce energy usage across the manufacturing organization and demonstrate corporate sustainability. However, implementing this type of change requires buy-in from employees to ensure they understand how these tools can support them and their role in the company’s evolution toward a more data-driven operational focus.
Take Action
Data analytics tools provide decision-makers the information they need to take action that reduces costs, improves product quality, and increases productivity. Whether they are manufacturing supervisors, product designers, or supply-chain managers, leveraging advanced analytics can make an important difference in meeting production goals and achieving competitive advantage.
For example, using predictive analytics, manufacturers can sift through large amounts of data to find practical ways to tweak their production processes to improve energy efficiency, maximize equipment utilization, and reduce downtime. Having a full view of their supply chain allows them to anticipate issues and put contingency plans in place before they impact production schedules.
Manufacturers can also use a data analytics platform to automate tracking and reporting of OEE (on-time-in-full) quality, good parts, scrap, and other production metrics, removing the need for manual documentation. This can save time, money and labor. They can also glean insights into product trends, human-based errors, machine conditions, and other factors that can help to drive cost change in their business.
Amplify and Accelerate Existing Business Processes
Whether analyzing inventory and demand forecasting or machine downtime, simulation and optimization, manufacturing analytics tools can ensure your production facility runs as efficiently as possible. By detecting problems at the machine level, you can reduce downtime and scrap rates, increase throughput and quality, and maintain delivery times.
Most manufacturers are aware that data analytics can improve productivity and efficiency on the shop floor. However, implementing these advanced analytics tools requires multiple changes on the people, process and technology fronts.
First, it’s critical to make sure your comprehensive data is accessible. The most valuable insights come from a single source of truth – not a mess of data formats that require you to navigate JD Edwards table names, Julian-style dates and complex column mapping. This is why we offer a platform that collects, integrates, and visualizes data from any source system including ERP, MES platforms, QMS software and more. Then, we help you create a consistent, accurate data ecosystem for your manufacturing analytics.
Become a Data-Driven Organization
The best way to make sure your company is a data-driven organization is to give all employees access to the right tools. It’s important to put security compliance first while making data easily accessible for business users so they can start, continue, or stop processes and improve them.
Data analytics tools can unlock countless opportunities in manufacturing from better decision-making to improved performance and productivity. The key is establishing an inquisitive culture that allows every employee to use data to inform their decisions and make them confidently.
For example, a manufacturing simulation platform can show how changing a production parameter impacts the process. This helps manufacturers understand the impact of a specific change before they implement it on the shop floor, which reduces the need for excessive iterations and speeds up product development.
Moreover, it can identify the root cause of machine problems to help avoid expensive downtime. Manufacturers can also take customization to the next level and provide made-to-order production based on a customer’s request using granular analytics.
Also read: A Guide To Integrating IPC-A-610H Standards in Your Manufacturing Line
