Manufacturing analytics refers to the use of operational and event-related data gathered during the manufacturing process to help organizations improve and streamline their manufacturing operations. As manufacturing processes become automated and logistics and inventory control systems move online, manufacturers have access to more data than ever before on which to make decisions.
Manufacturing analytics can provide several benefits, helping organizations:
- Reduce cost and boost revenue
- Manage supply chain risks
- Improve quality and accuracy
- Optimize manufacturing line efficiency
How to use manufacturing data to optimize KPIs
Like many organizations, manufacturers rely on key performance indicators (KPIs) to evaluate the effectiveness of their operations. Manufacturers track metrics related to cycle times, production volumes, maintenance costs, plant utilization, production costs, product quality/defect density and more. All of these metrics are potentially complex and interrelated. For example, a metric such as production cost can be impacted by everything from input cost of goods (COGS) to inventory carrying costs to shipping costs to on versus off-peak power costs.
Business analysts and floor managers typically use analytic dashboards to monitor operational performance and track KPIs related to the manufacturing process. Dashboards can display metrics related to overall equipment effectiveness (OEE), warehouse optimization, process or machine downtime and more.
Driven by a technical revolution and the Industrial Internet of Things (IIoT), equipment on automated factory floors is increasingly instrumented, equipped with multiple sensors. Process engineers can monitor manufacturing performance and receive alerts if equipment parameters exceed critical thresholds. Using predictive analytic techniques, organizations can use gathered sensor data to optimize maintenance schedules, maximize equipment longevity and avoid costly process downtime. Insights generated by analyzing data from manufacturing operations can also help organizations reduce error rates, identify defects quickly and optimize their supply chain and logistics.
Incorta solutions for manufacturing analytics
To be effective, organizations need an end-to-end view of all of their manufacturing-related data. Incorta’s Direct Data Platform™ delivers a rich environment for manufacturing analytics, enabling organizations to quickly ingest, enrich and analyze data from multiple sources. These sources include ERP, manufacturing systems, process control systems and even streaming data from robots and IoT sensors. Incorta’s direct data mapping technology avoids the need for dimensional data models and time-consuming ETL processing. Manufacturing analytics can also be leveraged for preventive maintenance, inventory risk management, fault detection, defect detection and more, all of which contribute to improved efficiency of manufacturing operations, reduction in costs and increases in revenue.
Intuitive, dynamic dashboards enable manufacturers to analyze and act on their business data with unmatched speed, simplicity and accuracy. With access to real-time production data, manufacturers can not only make better, faster decisions, but they can also improve their overall efficiency, quality and competitiveness.