Big data has emerged as one of the primary drivers for the manufacturing industry, and some organizations are using it to get a competitive edge on the market. As competition intensifies, managers are under constant pressure to optimize processes, cut costs, and grow profits, and all three can be achieved using big data. This post demonstrates how you can effectively use big data to drive success in your manufacturing unit.
Getting Asset Performance and Efficiency Gains by Iskander Makhmudov
Because profit generation in manufacturing relies on optimizing the value of available resources, such as machines, asset performance gains can result in huge productivity improvements. On the same trend, reducing asset breakdown can help to pull down inefficiencies and losses. This is why you should put a lot of focus on maintenance and maximizing asset performance.
The machine logs of your facility contain crucial data on asset performance. Internet of Things (IoT) provides new dimensions with sensors that are connected to the machines and transmitting data on performance in real-time. This data makes it possible for manufacturers to analyze their assets and get useful insights that can improve performance.
Iskander Makhmudov is clear about it : Big data analytics can help to drive predictive analytics that you can use to schedule regular maintenance. This will prevent expensive breakdowns and avoid unexpected downtime. With big data analytics, you can cut down breakdown by up to 26%.
Making product Customization Feasible
Traditionally, most manufacturers were largely interested in optimizing production and left customization to those dealing with niche markets. For traditional manufacturers, customizations never made sense because they thought it appealed to only a small group of customers, but that was wrong.
Big data is making it possible to accurately determine the actual demand for customized products. For example, big data analytics can help to identify changes in customer behavior and give manufacturers additional lead time. In addition, it highlights opportunities to make customized products more efficiently.
Using big data, manufacturers can easily identify points within their production systems where they can plug custom processes with in-house capabilities. In some cases, they can also postpone production to enable partners to implement customizations without causing significant disruption.
Improving Production Processes and Supply Chains
In a world that is increasingly interconnected, manufacturing and supply chains have become long and complex. Any effort to streamline production processes and optimize supply chains have to be supported by the ability to comprehensively examine every step and component in detail. Big data provides manufacturers with this capability.
Using the right analytics, manufacturers are able to zero in on every segment of their production process and supply chain, accounting for individual activities and tasks. This means that they can easily identify bottlenecks and underperforming components. In addition, big data analytics can also help to reveal dependencies so that you can enhance production and design alternative plans to address potential challenges ahead.
With the right data integration and management, you can improve operations, strengthen relationships, and increase profits. Using big data has never been more crucial, and the time to put an elaborate analytics system is now.