Do you grow or mine your own raw materials or buy them? What kind of transportation do you use? Where are your warehouses? How best can you deliver products to depots, branches and other warehouses from your place of storage? How do you manage inventory? What information system do you use?
Uganda’s manufacturing industries both large sector and Small and Medium Enterprises (SMEs) have continued to grow, The number of industries in industrial area alone can give you a clearer picture. There are industrial parks countrywide in which many factories are manufacturing and assembling products.
Industries have for many years dominated the technology spectrum with the latest tools that have put them ahead of any other sector. However, with time, other sectors have adopted solutions that even with the least endowment of machinery can still enable them leverage high productivity and profitability. They are quickly catching up because of data analytics technologies that have greatly optimised their business processes and helped them make informed decisions.
But how can industries catch-up? With the volumes of data these facilities collect, they have a rich endowment of solutions to push their progress. With advancing technologies in big data analytics, there is a host of ways a company can increase productivity, utilise underutilised resources and unearth hidden bottlenecks. Business process analysis has been made easy by the latest technologies being developed in the tech-world.
According to Mckinsey and Company, a prominent big data analytics solution consultant, there are three main applications in advanced analytics that maximise operations and performance;
Predictive maintenance which maximises opening time of critical assets, leveraging big data to predict and anticipate failures
Yield/throughput that maximises yield/throughput of individual assets, by optimisinf working parameters based on big data analysis.
Systems/supply chain dynamic optimisation with advanced modelling which dynamically defines optimal setup points like sales mix, value allocation, procurement mix, all to maximise profit/hour generation.
Together, these analytics approaches can deliver EBITDA margin improvements of as much as 4 to 10 percent.
Business analysts can now use these technologies to assess the impact of changeover time, weigh setup costs against product costs when placing orders and finally yet importantly identify hidden bottlenecks that affect business processes. Industries can now identify idle and underutilised resources, carrying capacity, and determine optimum batch sizes. Also, they can now determine the right number of products to manufacture based on the pool of their customers and the opportunity cost of reaching those targets. Another benefit these technologies are giving factories is they can simulate solutions that quantify their orders enough to maximise cost savings.
Predictive maintenance will also greatly reduce machine down time by 30 to 50 percent increasing machine life by a similar bracket. Robust regression analytics can solve these debacles if the skills fall in the right hands. With the right tools, Ugandan forms can employ predictive maintenance models that will increase operational efficiency and solve blockages.
There is a pool of applications big data technologies give to manufacturers in this edge. However, these technologies continue to impair their bottom-line. Spending more than US$ 10,000 on software that almost 90% of the organisation does not know how to use is a waste of resources. No wonder firms have resorted to using intuition and HIPPOs (Highest Paid Person’s Opinions) rather than data-driven techniques, which has contrarily continued to plunge them into an abyss they are yet to see.
Good news for you. There is a software that you use in your day-to-day processes that can protect your company from these bottlenecks without necessarily spending that much. Microsoft Office is used by 95% of your staff but only about 3% of them can use it to leverage the power of big data analytics to make business decisions. Microsoft Excel to be precise can solve any optimisation, scheduling, batch detection and other problems in manufacturing that can greatly hinder production. Microsoft Excel analytics will solve previously impenetrable problems and also reveal those that they never knew about, such as hidden bottlenecks or unprofitable production lines.
Our #BeyondExcel Productivity Package will prepare your team to solve the most complex optimisation and scheduling problems, identify bottlenecks in your business process, determine the theoretical throughput of processes, identify what resources are idle and underutilized and optimise your production process so you can leverage from the power of big data with Advanced Excel and save your company millions. Sign up today by following this link www.summitcl.com/beyondexcel