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Analytics can be key to manufacturing success

Analytics can be key to manufacturing success

Tools like time tracking software and warehouse management systems give manufacturers power they have not had before the advent of modern technology. Not only is work more automated than ever, but there will likely be a level of information and data business owners have never before known about their organizations.

Supply and Demand Chain Executive magazine contributor John Fishell wrote that the large volume of data is challenging for businesses but can also bring forth a new area of usable information that can be utilized to help innovate and push the company forward. The use of manufacturing intelligence, similar to business intelligence, can help support business decisions and gain new insights into business that were simply not there for manufacturing enterprises in the past.

The way to better utilize this information, he said, is to ensure the company has the modern software and technology in place to stay relevant.

“What many companies now lack is sufficient automation of all their processes and infrastructure to support people where and when they need to collaborate, make decisions and take action,” Fishell said. “With today’s cloud technologies, new systems can often be implemented in a matter of weeks or days – and later updated without delay or major disruption.”

The Aberdeen Group said for all the testing companies put into their products, they need to consider a greater level of testing and analytics when dealing with back office efficiency and customer relationships. Peter Krensky wrote in the abstract for an Aberdeen report that 43 percent of manufacturers found new ways to service customers by using intelligence activities. Analytics can help break down customer information to help enterprises better understand the needs of those who they serve. Aside from ERP implementation, this may be one of the bigger priorities for organizations moving forward.

Learn more about the benefits of automated time collection by downloading the free white paper entitled “Justifying the Switch to Automated Time Collection” from DMS today.

Posted in: Manufacturing Productivity

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