Why Manufacturing Companies Need Analytics?
Problem Statement
Why Manufacturing companies need Analytics
Possible Solutions
The top three areas where analytics can improve manufacturing performance:
Better forecasts of product demand and production,
Understanding plant performance across multiple metrics and
Providing faster service and support to customers
Analytics-driven order management drives customer loyalty
Organizations can use predictive analytics to redesign their order management processes to increase revenue, brand visibility, and customer satisfaction.
Analytics that bring out what elements of the order management or supply-chain processes are hampering customer experience are most useful. Is it master data, supply chain visibility, demand planning, operational issues with order processing, or logistics issues?
From a predictive analytics perspective, historical patterns on order delivery timeliness, fill rate, accuracy of price, timely communication to customer in case of changes provide valuable insights.