Leverage Manufacturing Data to Tackle Industry Pain Points

Category : Digital Transformation

Blog posted by : Admin / 02 Mar, 2022

 

Sudden fluctuations in demand as the pandemic hit exposed the pain points for many manufacturing organizations. Companies that can acquire the ability to adapt manufacturing analytics to tackle sudden shifts in the market definitely have an advantage over their competitors. 

 

The government has surely provided a boost for domestic production with their “Make in India” initiatives but are manufacturers equipped to scale up and streamline processes to increase production?

 

Each year AI reshapes the industry by incorporating technologies in new ways. Each year, the data captured by the manufacturing industry increases too. All the clean and actionable data captured by automation processes, if applied intelligently can be very powerful. 

 

How is manufacturing data captured? 

 

Broadly, data can be captured in two ways: through manual entries made by ERP users and automated capture through integrated technologies. 

 

For instance, in your company’s IoT network, a weighbridge has been integrated. While using the machine, the data captured by it will automatically appear on your system in the respective manufacturing ERP module. Similarly, through API integrations with customer portals, any enquiry made by the portal user will appear on your lead management module. 

 

To create highly visible, efficient, streamlined and integrated processes, organizations need to utilize manufacturing data. 

 

1. Unstable Supply Chain Logistics 

 

Any data captured from the point of origin to the point of consumption can provide actionable insights. 

 

Supply chain disruption has been plaguing businesses for a long time. The problem was only heightened by a global pandemic. As the industry is getting back to the new-normal, it can no longer rely on disconnected systems.

 

The manufacturing data captured right from the time of purchase of raw materials to inventory management and shipping of goods will provide valuable insights when entered into a smart process automation system.  

 

A completely streamlined and well-planned supply chain management workflow in an ERP system makes it easy to alter the process without causing disruption. 

 

Supply chain management on a cloud ERP platform:

 

• Ensure timely delivery while reducing costs 

• Create an efficient supply chain based on manufacturing analytics 

• Optimize procurement and flow of stock based on demand forecasts  

• Increase collaboration and compare vendors and suppliers

• Cross-platform visibility from inventory to supply and demand 

• Comparison of standard costs against the actual consumption 

• Plan storage and schedule shipping for fast and slow selling goods 

• Manage transporters, distributors and their bills 

• Prevent fuel wastage with a fuel monitoring system 

 

2. Fluctuating demands

 

Struggling to catch up to rising demands creates a cascading effect of delays.

 

Forecasting is a powerful addition to the strategy of any business but is often overlooked. For your manufacturing data to be dynamic and responsive, your business needs to be able to forecast trends. 

 

Studying and analyzing historical data helps an Artificial Intelligence integrated system to determine a trend, which allows the decision-makers to plan ahead accurately.

 

• Calculate requirement of resources 

• Create alerts for low stock levels 

• Display collection prediction for the next 6 months

• Know probability of receiving payments 

• Check expected material delivery delays 

 

3. Labor Shortage 

 

Filling manufacturing jobs is one challenge and retaining the workforce is another. The shortage of workers, especially skilled ones had heightened after the pandemic-induced lockdowns began ending. Gradually, workers started returning and factories started filling up. 

 

It definitely was a huge blow to the industry, which has been continuously finding ways to tackle the ongoing problem of labor shortage. While one cannot predict a global pandemic with certainty, they surely can be equipped to handle it better. 

 

For starters, every employee needs to know the difference they are making to feel more connected to their workplace. A centralized ERP system will help them visualize their performance, project progress and find value in what they do. 

 

Impart skills, reduce attrition and provide employee engagement by managing employee data on the manufacturing ERP system.       

 

• Provide skill-based training on ERP system

• Monitor and reward progress for online training 

• Predict labor attendance with Artificial Intelligence

• Employee self-service mobile app

• Enable Face ID and fingerprint as easy sign-in options 

• Onboard employees remotely with ease

• Set up an online grievance redressal system 

 

4. Unable to Integrate New Technology

 

To keep up with and be able to work with the latest manufacturing technologies, you need to create an adaptive and scalable system. Any manufacturing ERP software will be no good if it cannot be integrated with the latest devices or applications. 

 

The market for Internet of Things (IoT) is expected to grow at an exponential rate owing to advances in technology. Expansion of the IoT network would mean the generation of more data. To become a smart manufacturing unit, this data needs to be harnessed. 

 

The ability to run complex algorithms and analyze vast amounts of data is provided by Artificial Intelligence integrated ERP systems. 

 

• Collect information through IoT network

• Analyze machinery data captured by the system 

• Invest in well-defined multiple API and IoT integrations

• Enable predictive maintenance to reduce downtime

• Achieve shorter time-to-market

 

5. Lack of Quality Leads 

 

Tough competition, a long chain of retailers and a global pandemic have certainly affected demands and attention span of the target audience. The priorities and buying process has witnessed a huge change across the world after the lockdowns started ending. 

 

Capturing customer data across various systems will hamper your sales pipeline. A manufacturing ERP system that is integrated with an automated sales and marketing cycle has become a necessity today. 

 

Identifying the new-normal buying patterns is crucial to make sales. The next step is to create targeted marketing campaigns and personalized sales pitches. 

 

Leverage target audience data to get the most benefits out of CRM automation systems.

 

• Predict which leads are likely to book units

• Generate site visit predictions 

• Know customers that are likely to recommend others 

• Call, email and message leads directly from the ERP system

• Schedule digital marketing campaigns 

• Identify high-quality leads 

• Analyze customer behavior to predict demand 

• Create better sales strategies with manufacturing analytics

 

Industry leaders that recognize the power of manufacturing data and start harnessing it through ERP systems now, will remain competitive in the market in the future. 

 

 

 

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