Breaking barriers between people and processes letting performance and availability improve
The manufacturing industry has been the driver in the global economy for decades. Some countries have achieved tremendous growth through industrialization and by focusing on the manufacturing sectors as a torchbearer for economic success. Manufacturing is one of the oldest industrial sectors globally, which is shaped by three distinct revolutions preceding the current one—Industry 4.0.
Mechanization marked the first industrial revolution, and the second was featured with the concepts of mass production, famously termed as the moving assembly line. The third revolution saw the major disruption in various sectors and especially in manufacturing with automation and robotics. Data, computerization, and automation dominate the current era. IoT, analytics, and cloud computing are revolutionizing and transforming the way the manufacturing industry is operating. Sensors capturing data and interconnected systems through cloud and secured networks are leading to continuously improving production management systems too.
Comprises of companies and factories that produce industrial chemicals by converting the raw materials such as natural gas, oil, air, water, minerals, and metals into thousands of different chemicals.
As one of the largest in the world, the automobiles industry comprise a wide range of companies involved in designing, manufacturing, marketing, and selling of motor vehicles for various machine and human purposes.
Machines such as MRI, CT scan, ultrasound, X-ray, etc. come under medical equipment and are used to aid different kinds of diagnosis.
Comprises of companies that use wood as a raw material to produce paper, pulp, and other cellulose-based products, where India alone accounts for 1.6% of the total world production of paper.
Companies in the carpet manufacturing industry make and weave natural and synthetic fibers for selling big and small carpets.
A wide variety of firefighting and safety equipment such as fire hydrant system, extinguisher, detector, water spray system, alarms, and much more are manufactured for personal and commercial purposes.
Raw materials and sub-assemblies are crucial inputs for any manufacturing process, ensuring sufficient stock at any given point for smooth plant operations. The demand for this function is not only to ensure sufficient supplies but also that these are procured at the right price, right time, and from the right supplier. Procurement also monitors that sourcing risks are mitigated by creating a pool of suppliers for any given category of goods. Some of the key metrics for healthy procurement and manufacturing analytics are:
Manufacturing inventory management has two streams: upstream that deals with raw materials & sub-assemblies, and downstream that deals with finished goods. Ensuring that both these streams are managed and optimized is a competency within the manufacturing domain for success and market leadership. Some of the key metrics covered as part of this function include:
Sales is a crucial function for any industry vertical. Whether the produced goods are to be sold to another business, or they need to be sold to the consumer, understanding and measuring the sales process is crucial for meeting revenue and growth targets for the company. Some of the key metrics covered in sales include:
In certain manufacturing verticals such as automobiles and white goods, aftersales is a crucial function to ensure customer retention and reversion. In the automotive sector, aftersales service and support create exceptional customer experiences. This also helps customers recall the manufacturer’s brand value. Some of the central analytical parameters you get in customer engagement area are:
Finance is indispensable in the manufacturing sector owing to the involvement of a huge capex. Apart from managing the cost, ensuring every element of the investment is recorded, monitored, and controlled is compulsory. Numerous decisions in the manufacturing processes are viewed from the perspective of finance as they generate a direct impact on either the top or the bottom line, which brings us to these principle metrics:
Manufacturing is another industry that employs a high number of human resources. Although there are extensive computerization and automation in this sector, human resource cannot be eliminated. Unlike other industries, in manufacturing, human resources have a lot of complications due to multiple statutory regulations governing the functioning of the human resources based on the country and region of operations. Some of the critical measures covered are: