Electrical manufacturing analytics ebook
Electrical equipment manufacturing has been seeing a steady but consistent change over the years. The prime factors fuelling the demands are:
- Increased commercial, residential and industrial activities in developing economies.
- Electrification of rural and suburban regions in populous and emerging economies like India.
- The growing popularity of smart cities, necessitating the implementation of Smart-grid technologies.
From the perspective of consumer behaviour, the industry or rather the big brands enjoy significant loyalty. However, that doesn’t mean customers stick to the same products. They love exploring new and flashy products that offer efficient and better performance. This, in turn, leads to some key issues such as:
- Improving equipment life cycle leads to gutted or slowed demands.
- Fluctuation in commodity prices owing to seasonality and fads.
- Receding operating margins for equipment manufacturers.
Some other difficulties faced by electrical equipment manufacturers are supply and fulfillment influenced, for example, sourcing difficulties, reverse-logistics tracking and plant’s operational efficiency.
To tackle these issues, leading manufacturers are turning towards technologies such as - IoT – to keep a better track of inventory stocks.
Data Analytics – to make sense of the data and improve collaboration amongst internal as well as external stakeholders. And Automation – to bring in efficiency and do away with repetitive operational activities. Data holds a significant strategic value for businesses these days and manufacturers are no different in this regard. In fact, the volume of data generated at every step in manufacturing is huge, starting from equipment operations data to inventories information (raw material, semi-finished and finished goods) to workforce plans and operations. With the advent of manufacturing technologies, experts have pegged that data would exceedingly become important for manufacturers and its analysis would eke productivity and efficiency across various manufacturing processes.
In this guide, we are going to take a deeper dive into different Data Analytics use cases for the Electrical Equipment Manufacturers and how they can leverage analytics to make the most of their data. The broader Manufacturing Analytics use cases discussed in this guide are:
- Utilization & Operational Efficiency: Maximize the efficiency of your critical assets, predict and prevent downtime and maximize setup utilization.
- Supply Chain Optimisation: Dynamically manage the procurement needs, maintain optimum inventory & facilitate collaboration.
- Modern & Customer-centric Approach: Gauge market demand to adjust offerings, remain competitive and have the best customer experience.
Get your copy of this e-book on Electrical Manufacturing Analytics.
