Power BI - is transforming the manufacturing industry?

How Power BI - is transforming the Manufacturing Sector?

In this post, we wish to throw some light on power bi data analytics implementations and how it is bringing a transformation for the manufacturing industry.

Well, every manager and a manufacturer would like to know-

• Which products bring the most customers, and which yields lower profitability?
• What are the weak links in the manufacturing process? For example, which raw material vendor can halt manufacturing the most?
• How to perform shipment performance, transportation cost, and several other KPIs of the business?
• How to reduce the machine’s downtime??

And many such other things which can change the course of operations and get them that leverage - over the competitors.

?Efficient Operations form the major chunk of any manufacturing company - as it directly reflects the bottom line of a company. Thus, the manufacturing industry is constantly looking for improved solutions - to speed up production, improvise operations and automate large-scale industrial processes.

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Why is the manufacturing industry struggling to find answers?

1. Data is collected from several sources and is presented inconsistently - making it difficult to read and draw insightful conclusions. Some companies gather data successfully but fail to comprehend and further utilize it.
2. Integration of data analytics tools with traditional manufacturing systems such as ERPs, production planning systems, and others becomes challenging.
3. Processing and storing huge data - Manufacturing involves multiple and complex processes – generating a huge amount of data which multi-folds with the increase in the production and processes. But it fails to manage and coordinate the pace of storage management systems.
4. Disparate data causes production delays, is prone to manual errors, and lacks real-time information.
5. An industrial data collection system with limited computing power might put the entire company at risk as there are underlying threats of cyber-attacks, online leaks, unauthorized access, and other security issues.

How does Power BI help to find answers to the questions mentioned above?

In nutshell, Power BI helps you with the following

In detail,?

1.????Platform or Application Integration – Using Power Query, you can now collaborate various applications and get the data onto one platform (with one-time set-up and limited human intervention from thereon) for an in-depth analysis. This ensures that none of the data is missed - which forms the right basis for making decisions.

2.????BI Tool supports you with Predictive Analytics which helps you to discover patterns and behavior – enabling you to take necessary actions for improving operations.

For example, you can schedule the service of equipment before its condition deteriorates and leads to downtime.

3.????Helps you manage your supply chain efficiently by tracking consignment cost, detailed insights about each shipment which can help you negotiate better contracts, measure transportation costs, repair costs, and several more KPIs. The analysis is derived based on historical and real-time data aiding for better decision making.

4.????Be informed about your machines or equipment health related to poor maintenance, misuse, poor installation, frequent downtime, etc. which affects your production adversely.

5.????Exemplary Demand Forecasting – which requires proper alignment of your operations to plan production, inventory, and supply chain. Traditional companies use historic data to derive the demand, but instilling BI provides you with real-time data & analysis which can help you make the most optimized forecast.?

6.????Enhance Financial Management - You can use BI in manufacturing for analyzing several departments like P&L, sales, inventory, assets, etc. This gives you an idea about the exact ROI from each section. BI provides you with in-depth cost-benefit analysis, with the help of which you can find new ways to generate revenue and save costs.

For example, a Power BI dashboard for manufacturing operations helps in monitoring inventory and supply chain. You can also view real-time data from multiple sources on a single dashboard from any device and have a detailed analysis of accounts, sales, purchases, asset management as well.

To summarize, BI helps manufacturers to get the maximum output with minimum input by optimizing the resources through Innovative planning, streamlining operations, optimizing resource allocations, and long-lasting material inventory.

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Final say –

Industry 4.0 when combined with the power of the latest technological development of AI, advanced visualization and analytics, robotics, and?IoT-powered devices can provide manufacturers with the potential to collect, store, visualize and utilize data in daily factory operations also giving them leverage over their competitors.

Organizations adopting data-driven manufacturing are actively dispersing both external and internal problems. Power bi data analytics is a strategic move to get speedy results and performance for your production business as well.?

If you are ready to take a step towards a better future and create a lasting impact through data, talk to our?Power BI Consultant?or take up a Full stack BI Reporting course and start your data analytics voyage.

Courtesy - Mr. Sami, Data Enthusiast, and a Technophile

Author - Ms. Richa Shah

Team Excelgoodies - www.Excelgoodies.com