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Manufacturing Analytics: Key Metrics, Benefits & Solutions

Year 2023
November 2023
Manufacturing Analytics: Key Metrics, Benefits & Solutions
02 Nov 2023

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In today’s fast-paced manufacturing landscape, staying ahead of the competition requires a deep understanding of production processes, a sharp eye for data-driven insights, and usage of cutting-edge technologies. That’s why businesses need manufacturing analytics, which is the foundation of efficient decision-making for any  company. In this blog, we will delve into how firms embrace digital transformation and manufacturing analytics in driving productivity, streamlining operations, and maximising profitability.

Table of Content

What is Manufacturing Analytics?

Manufacturing analytics is the procedure of gathering real-time data from the many devices, processes, and systems that are used in a company’s daily operations. Using insights from that data, manufacturing firms can gain many advantages. 

Firstly, manufacturing analytics helps improve operational efficiency. By analysing production data, manufacturers can recognise inefficiencies in the manufacturing process, allowing them to optimise production, reduce downtime, and minimise waste.

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Secondly, with the data from analytics, Synergix Manufacturing ERP system helps to identify trends and patterns in the manufacturing process. By analysing equipment data, manufacturers can predict when equipment is likely to break down and schedule maintenance before it becomes a serious problem.

Lastly, manufacturing analytics can provide real-time insights. This enables manufacturers to make data-driven decisions based on the most accurate data. As a result, this help save a lot of cost and improve delivery times.

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Important Key Metrics for Manufacturers

While there are many key metrics in manufacturing analytics, below are some of the most important ones that manufacturers should keep in mind:

  • Overall Equipment Effectiveness (OEE): OEE is one of the most important metrics in manufacturing analytics. The indicator provides a holistic view of equipment efficiency. Through the act of measuring availability, performance, and quality, OEE helps businesses find areas for improvement and optimise production processes.
  • Cycle Time: Cycle time is also a key metric. It measures how long it takes for a product to move through the manufacturing process. Manufacturers can increase production capacity, reduce lead times just by reducing cycle time.
  • Yield: This measures product quality. By improving yield rates, manufacturers can reduce waste and improve profitability.
  • Downtime: Downtime is a principal metric because it measures how much time production equipment is not operational. Reducing downtime can help increase productivity and reduce costs.
  • Throughput: This is also a major metric. It measures how much product is produced over a given period. By increasing throughput rates, manufacturers can increase revenue and profitability.

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Benefits of Manufacturing Analytics with Synergix ERP software 

Implementing the ERP system provides a lot of benefits that significantly enhance a company’s bottom line, such as:

  • Better Decision-Making: By providing real-time data and actionable insights, Synergix ERP software empowers decision-makers to make informed choices, leading to improved operational efficiency and increased profitability.
  • Improved Resource Utilisation: Through the optimisation of production processes and resource allocation, Synergix ERP solutions helps businesses reduce waste, minimise costs, and maximise resource utilisation.
  • Streamlined Supply Chain Management: Synergix ERP facilitates seamless coordination across the entire supply chain, ensuring timely delivery of materials and enhancing overall supply chain efficiency.
  • Increased Customer Satisfaction: With a focus on maintaining consistent product quality and timely delivery, our Human Resource Management module contributes to heightened customer satisfaction, fostering long-term customer relationships and driving business growth.

Read more: The Integration Of Synergix ERP System With IoT Solution For Manufacturing Industry 

Implementing Solutions for Comprehensive Manufacturing Analysis

Synergix ERP offers a range of tailored solutions to address the diverse challenges faced by the manufacturing industry, ensuring a seamless integration of manufacturing analytics into the operational framework. These features include:

  • Data Visualisation Dashboards: Synergix ERP software’s intuitive data visualisation dashboards enable businesses to gain a comprehensive understanding of complex manufacturing data, facilitating informed decision-making and strategic planning.
  • Planning & Scheduling feature: The Manufacturing ERP system provides quick and flexible production planning scenarios that are closely related to manufacturing execution. It also provides real-time alerts regarding capacity constraints and intelligent logic that suggests alternate plans to the production planner automatically, assisting him in his work of production scheduling.
  • Insightful Reports: With an ERP system, you may create reports at any moment to monitor the state of your company’s performance. There are about 500 common reports that are available through the system. Additionally, you can keep an eye on the performance of your suppliers, product movement and trend analysis, quality control performance 
  • Integrated Workflow Management: Our software’s integrated workflow management system ensures seamless coordination between different departments, promoting efficient communication and collaboration across the entire manufacturing ecosystem.

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In an era defined by rapid technological advancements and increasing market demands, embracing manufacturing analytics powered by Synergix ERP Software is the key. Business can unlock unparalleled operational efficiency, driving sustainable growth, and maintaining a competitive edge in the dynamic manufacturing landscape. With our solution as the cornerstone of manufacturing analytics, your journey towards operational excellence shall begin soon! 

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