Manufacturing executives have many challenges optimizing performance while attaining corporate goals. In today’s economic environment, a significant reason for performance management is operating cost reduction while continuing to serve the customer. Aberdeen research has found that:
- Best-in-Class manufacturers operate with 25% operation margin.
- Best-in-Class manufacturers realize 19% increase in On-Time Delivery, a 21% increase in OEE, and a 22% increase in yield.
- Best-in-Class manufacturers realize 97% Raw Material Yield.
Their research also found that:
- Best-in-Class manufacturers are 65% more likely to standardize exception handling processes and procedures across manufacturing operations.
- Best-in-Class manufacturers are 2 times more likely to enable continuous improvement teams with analytics and real time visibility.
- Best-in-Class manufacturers are 4 times more likely to display operational data and metrics in real-time.
In order to achieve Best-in-Class performance, companies must focus on improving operations in the following ways:
- Automate data collection across manufacturing operations and use this data to control production.
- Provide role based visibility to information and establish automated workflows across manufacturing operations.
- Invest in visualization and analytical technologies to gain visibility across all operations and improve decision making.
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