In 2020, the world experienced massive changes in supply chains, impacting everything from raw materials procurement to production and delivery of critical goods. As manufacturers pivoted operations to meet the increase in demand for their products, the adoption of advanced analytics has accelerated.
However, despite the general understanding of the benefits of advanced analytics, many companies still struggle to firmly adopt the use of the technology. This is largely due to the financial burden and time restraints associated with the infrastructure needed to produce high quality data.
In an environment that’s constantly facing new demands, accelerating the adoption of this technology is necessary to maintain a competitive advantage.
Consider these value points when trying to justify the adoption of advanced analytics in your manufacturing environment:
- Predictive Maintenance. Operators are alerted to potential issues before they surface, reducing downtime, lost product, while maintaining commitments to their customers.
- Increased Productivity. Engineers use insights generated by the application to optimize processes in real-time.
- Decreased Costs. Advanced analytics can also provide operations real-time cost-benefit calculations – instantly evaluating the financial impact of making changes in a process.
There are hundreds of ways for a manufacturer to benefit from the implementation of advanced analytics. The challenge is showing rapid results from such applications. We are here to help!
Take the Next Step!
Not sure exactly how to get started? Need justification for the implementation of advanced analytics at your organization? Looking for success stories? Reach out to the process experts and technical innovators at Avid. We’re here to show you how to energize your efforts to improve your operations using advanced analytics as well as other leading edge IIoT-based solutions! Contact us here today.
