A lot of manufacturing companies struggle while optimizing their production processes, as they fail to capture the precise data. Sizeable gaps occur between projected targets, and realized gains. To make up for this, advanced business analytics ought to be used as a tool. A metric has been devised known as ‘profit per hour’, to improve resource productivity. This combines value, volume and cost to extend the measurement frontier. Using this technique, a chemical plant has been able to reap in, process- level improvements. A steel mill meanwhile has made faculty- wide gains. Google’s Deep Mind is one such app which is at the centre of such a technique, having made use of AI to make energy savings by up to forty percent on is data centres over cooling. This unified metric enables the full tracking of all costs.

Source:https://www.mckinsey.com/business-functions/operations/our-insights/pushing-manufacturing-productivity-to-the-max

Uploaded Date:22 January 2019