Unleash The Power Of BI & Analytics In Plastic Industry

The high growth Plastic manufacturing industry is under constant pressure to reduce costs and increase margins while competing in a highly volatile market. Because of this rising competition environment and business challenges which have now become globalized, there is a need to have a fast decision based on real-time updated information. Here, comes the critical role of Business Intelligence (BI) software that can significantly improve both the performance and power of a manufacturing business.

Power BI is designed to deal with large volumes of static data generated from multiple internal and external sources. In addition, it is a time-saving process focused on describing past observations, offers clear explanations regarding their causes, and gives data-driven forecasting ability to take decisions for the future of the business.

In rapid global market growth and increasing plastic consumption across food & packaging, FMCG, construction, automotive, and electrical & electronics industries, enterprises need to know about their historical performance and results, their reasons, bottlenecks in business activities, and predict future outcomes based on succinctly analyzed data. From the boardroom to the shop floor, every one of your business networks can use BI Tools to get answers with succinct explanations of these important questions:

ü  What happened in business?

ü  How often it happened?

ü  Where did it happen?

ü  Why it happened (data-based evidence)?

ü  What if this trend continues?

ü  What will happen in the future?

ü  What is the ideal scenario?

These questions correspond to enterprise analytical tasks widely known as statistical analysis, forecasting, predictive modeling, and optimization. The business insights gained from the deployment of these tools are centered around business practices and methodologies and are used to make timely and fact-based business decisions. The data-based factual results also eliminate arbitrary or unfounded beliefs, guesses, opinions, speculations, suspicions, or hearsay from your decision-making process. Let’s explore more about plastic manufacturer challenges and the most evolving BI applications for them.

Key Challenges Plastic Manufacturers Face

ü  The manufacturing process initiating from customer orders until the delivery of products to customers includes various stages and sub-processes.

ü  The operation section is unknown whether the products have been completely built by the production people or not.

ü  Due to invisibility, the priority of the orders as per their delivery schedule cannot be monitored and carried out.

ü  Estimating the right manufacturing capacity with limited information visualizations

ü  Without foreseeing the demand pattern, it becomes challenging to match the supply-demand balance and schedule the level of production accordingly.

ü  Optimize stock inventory to avoid out-of-stock or over-stock scenarios which becomes difficult without capturing and analyzing data

ü  Predict Sales, trends, and customer demands most accurately

ü  Navigating through multi-systems and papers to collect data

ü  Require professionals to create and analyze various reports

BI Applications For Plastic Manufacturing and Other Hyper-Competitive Manufacturing Industries

In the past decade, it was observed that the companies that implemented BI Solutions grew 50% faster as compared to non-BI users. Following are some prominent BI Solutions that manufacturers are adopting:

Manufacturing Execution Systems Integration- Generally, a manufacturing facility depends on various enterprise systems, hence the data stored in siloed systems becomes difficult to collect, organize, and analyze through advanced data-analysis techniques. With Power BI System you can easily:

ü  Determine delivery dates based on the capacity check, thus improving the due date calculation efficiency, precision, and reliability.

ü  Manage Customer orders in real-time in a distributed environment.

Real-time Performance Dashboard

With BI Performance Dashboard, you can analyze your business performance with real-time information that tells you accurate results to see how much

ü  Reduction in operation costs

ü  Increase in production

ü  Reduction in manufacturing costs

ü  Increase customer responsiveness

 Simulation-based Decision Support System Focusing On Visualization

Through BI Tools, you can update manufacturing simulation data in real-time which helps decision makers to locate the information and give the ability to

ü  See the potential bottlenecks or other production problems to take corrective actions

ü  Proactive planning and problem-solving for production

ü  Provide early information for upcoming work to production operators

ü  Plan for changes or new systems

 

BI Managerial Dashboard

BI system gives an intuitive platform to prepare a base for managers to estimate the potential for increasing production sales and expanding business. You can-

ü  Monitor the firm’s operation performance

ü  Identify technical and managerial knowledge to prepare for a large-scale manufacturing

BI Reports

ü  BI Reports discover and locate the crucial information that used to take hours or days to report instantaneously – in sales, forecasting, production, planning, order tracking, profit analysis, and ad-hoc reporting.

Due to the availability of state-of-the-art enterprise manufacturing systems, a high volume of data is generated everyday which can be a foundation of your winning business strategy if collected and analyzed with the right techniques. A Business Intelligence System Implementation can standardize the first step of attaining market leadership-collect, transform, and organize data. Then, reinvent organizational culture by inculcating data-driven decision-making which is needed to create the perfect ecosystem for business analytics and drive actionable results. Finally, these can be your ‘business model innovation’ efforts to tackle new value creation, and capture and secure market leadership.

Please connect with us at marketing@essindia.com to see how our BI Solutions can help your business improve performance and profitability.