Manufacturing analytics & its applications in the manufacturing value chain
Business Analytics is used extensively by any enterprises that treat data as one of their key assets. Analytics derives deep insights from the ocean of data available within an enterprise. It helps in exploring data , to find new patterns and relationship ,to know why a certain event outcome occurred , to test previous decision and to forecast future results etc As a result business analytics can help enterprises in decision-making.
For Manufacturing companies increasing globalization means that the supply chain has become more complex involving a multitude of suppliers, contract manufacturers, customers and other business partners. Taking business decisions is extremely challenging the high level of impact such decisions have on business performance and overall supply chain makes it extremely vital to get the decisions right.
Manufacturing companies that are best at demand forecasting using analytics are on average
- Have 15% less inventory,
- 17% higher perfect order fulfillment,
- 35% shorter cash-to-cash cycle time,
- 1/10 the stock-outs of their peers.
HCLTech HCLTech Business Analytics Services (BAS) provide a comprehensive set of BI consulting and Data Warehousing capabilities to meet this challenge by reducing costs and driving innovation, while distilling quick business value from big data.