In the fast-paced world of manufacturing and supply chain management, making informed decisions quickly is essential. To achieve this, organizations need access to reliable, granular, and real-time data. The traditional approach to data analytics, marked by complexity and siloed systems, often falls short. This is where Incorta, an agile data analytics solution, steps in to revolutionize manufacturing and supply chain analytics. In this blog post, we’ll focus on a specific aspect of Incorta’s capabilities: the Bill of Materials (BOM). We’ll explore how Incorta’s unique approach delivers actionable insights, streamlines operations, and empowers businesses to optimize inventory, maximize revenue, and drive cost efficiency.
Challenges of Traditional Data Analytics:
Before delving into the exceptional features of Incorta, let’s examine the challenges associated with traditional data analytics. Organizations often face data fragmentation across multiple systems, making data extraction cumbersome and introducing operational delays. Limited access to detailed data means that a significant amount of time is spent on data preparation rather than valuable analysis. Implementing new business intelligence projects can be time-consuming, and existing ETL processes can result in stale data. These challenges underscore the need for a more efficient and integrated approach to data analytics.
Realizing the Goal of Bill of Materials (BOM) Efficiency:
One remarkable aspect of Incorta’s capabilities is the efficient handling of Bill of Materials (BOM). The goal is to create an architecture that can break down any finished product into its sub-components and calculate quantities and costs in a matter of seconds. This goal is not merely aspirational; Incorta delivers on it with remarkable success.
Successful Delivery:
- Purpose-built to answer questions and enable agile decision-making on the fly.
- Automation of data exporting and conversions, saving at least 1 hour of manual work per day.
- A scalable and repeatable solution that is accurate and automated, eliminating the risk of manual errors.
- Creation of a real-time analytics dashboard that aligns with top management’s reporting needs.
- A responsive report for end users and leaders to tackle ad-hoc problems with definitive answers.
- The utilization of all available data to make better decisions for customers.
- Democratizing logic and knowledge, making them available company-wide.
- Enabling dynamic filtering by date and categorical dimensions in real time, improved data refresh frequency, and savings in terms of time and resources.
Incorta’s Game-Changing Approach:
Incorta introduces an analytics data hub that offers a holistic view of operational data for supply chain and manufacturing teams. With Incorta, data from multiple sources is harmonized into a single platform, providing access to every table, column, and record. This empowers end users to drill down into data, investigate anomalies, and identify the root causes of variances. Real-time analysis with up-to-date and error-free data becomes possible, allowing users to answer new questions and deploy new dashboards with ease.
Customer Success Story: Nortek Global HVAC & Quanta Services:
To illustrate the value Incorta brings to its customers, consider the cases of Nortek Global HVAC and Quanta Services. With a complex business and multiple acquisitions, Nortek struggled with data visualization using traditional methods. After adopting Incorta, Nortek experienced a significant reduction in time spent on data preparation tasks and achieved a single source of truth for their supply chain and manufacturing teams. They were able to optimize inventory levels, ensure up-to-date data, and lower their total cost of ownership by 75%. Additionally, Quanta Services’ complex operations are comprised of over 47,000 employees, 229 operating units and a massive equipment fleet of 50,000 with nearly 25,000 of these on the road. Incorta’s platform allowed Quanta to ingest and process data at incomparable speeds, provide easy-to-view analytics and dashboards and share information securely with all of their operating units.
Conclusion:
Incorta’s approach to manufacturing and supply chain analytics is a game-changer. It addresses the limitations of traditional data analytics by providing a unified platform that harmonizes data, offers real-time insights, and streamlines decision-making processes. The success stories and achievements of Incorta’s customers, like Nortek Global HVAC, demonstrate the platform’s ability to drive efficiency and reduce operational complexities.
The incorporation of the Bill of Materials (BOM) into Incorta’s offerings further solidifies its role as a catalyst for manufacturing efficiency. By breaking down finished products into sub-components and calculating quantities and costs in seconds, Incorta empowers businesses to stay agile, save time, and make data-driven decisions with confidence. In a competitive manufacturing landscape, Incorta proves to be a valuable asset in the journey toward optimization, revenue maximization, and cost efficiency.
Embrace the future of supply chain and manufacturing with Incorta and experience the transformation firsthand. Learn more about Incorta’s solution for manufacturing and schedule a demo to talk to our experts about how we can revolutionize your strategy.