Why Manufacturing companies need Analytics
- The top three areas where analytics can improve manufacturing performance.
- Better forecasts of product demand and production,
- Understanding plant performance across multiple metrics and
- Providing faster service and support to customers
- Analytics-driven order management drives customer loyalty
- Organizations can use predictive analytics to redesign their order management processes to increase revenue, brand visibility, and customer satisfaction.
- Analytics that bring out what elements of the order management or supply-chain processes are hampering customer experience are most useful. Is it master data, supply chain visibility, demand planning, operational issues with order processing, or logistics issues?
- From a predictive analytics perspective, historical patterns on order delivery timeliness, fill rate, accuracy of price, timely communication to customer in case of changes provide valuable insights.