You're tackling cost reduction in manufacturing operations. How can you leverage data analytics effectively?
To reduce manufacturing costs, data analytics is key. Here's how to make it work for you:
How have you used data to drive down manufacturing costs? Share your strategies.
You're tackling cost reduction in manufacturing operations. How can you leverage data analytics effectively?
To reduce manufacturing costs, data analytics is key. Here's how to make it work for you:
How have you used data to drive down manufacturing costs? Share your strategies.
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Data analysis of waste becomes the baseline when it comes to cost, then analysis of theoretical capacity and actual capacity as the differences between both will impact the process cost significantly so, this type of analysis should done carefully for long period as much as available ensuring the different product types, sizes, complexity….etc and should be correlated with each machine or line capacity and how much each product optimization from each machine. Workforce utilization, power and other indirect cost should be analyzed well too. Material consumption, consumable…. Etc. Finally work flow analysis and other procedures of material flow in line should be observed using simple tools like Gemba walk, spaghetti diagram, VSM if need.