“The future belongs to those who prepare for it today” – Malcolm X.

As the manufacturing industry grapples with significant and rapid technological advancements, they face increased pressure to improve performance and stay relevant in the market.

The era of using cumbersome manual processes and prolonged data processing is quickly fading.
Thanks to modern data analytics and reporting solutions like Power BI, manufacturing companies can significantly boost their business growth by streamlining operations and with faster and more efficient decision-making with manufacturing data insights from Power BI dashboards.

Power BI for the manufacturing industry

The industry dynamics are shifting, and manufacturing companies must evolve to stay afloat in the digital era.
In this blog, we will explore how Power BI for manufacturing can help the industry achieve operational excellence and drive growth.

What does operational excellence mean for manufacturing?

Though operational excellence is a widely used term, its implications are significant for manufacturing companies.

At a broad level, optimizing the operations starts with a shift in the mindset and then comes down to implementing the practices or initiatives to ensure that every employee can see or fix the inconsistencies in the process.

Digitizing the operations and automating repetitive tasks through Power BI for manufacturing, can empower manufacturing employees to work seamlessly and collaborate to produce results more aligned with the business’s strategic goals.

According to a survey from PwC India, manufacturing companies are increasingly adopting digital tools for their operations, and 54 per cent of the companies have already implemented AI (Artificial Intelligence) and Advanced Analytical tools for their business.

When the context is data, how companies implement digitization can range – from going paperless in the production process to extracting value from that data for making informed decisions.

Efficient use of data is one of the key tactics that manufacturing companies can employ to improve their operations and achieve better output and profits.

Why manufacturing companies need to go paperless/Drawbacks of paper-based data collection

Manufacturing companies typically produce more data than is used for decision-making, owing to the complexities of their operations.

However, with the traditional paper-based methods of data reporting and analyzing, there is a risk of falling behind.

1. Relying on manual data entry and processing is time-consuming and risks delays.

2. There is an increased chance of human errors with paper-based reporting, thereby hampering productivity and scalability.

3. Going through piles of data to pinpoint the exact cause of a production issue or a lag can be like finding a needle in a haystack.

4. Besides, in a manufacturing team with various capacities, data is collected from different sources and is prone to inconsistencies, which renders it useless for making crucial business decisions.

Choosing suitable tools for data analysis and reporting and going paperless can be a fruitful investment to achieve growth in the long term.

One such robust Business Intelligence (BI) and analytical tool that enables operational excellence in manufacturing companies is Power BI by Microsoft.

Enter Power BI for Manufacturing Industry

Power BI is a data analytical and visualization tool from Microsoft. It analyzes data to provide meaningful insights and presents data in an organized, visually appealing way through graphs, pie-and-bar charts, and images. The data processed and presented using Power BI is accurate, easy to comprehend and can be connected to a wide range of data sources, from spreadsheets to cloud services.

Ways in which Power BI helps manufacturing companies

Streamlining Operations

Operational efficiency is one of the strong pillars of success in manufacturing. With real-time insights from Power BI dashboards, demand forecasting can be accurate, resulting in improved supply chain, production targets and inventory management.

For example, a Power BI dashboard for the supply chain can visualize delivery schedules, equipment downtimes, and product lifecycle from factory to consumer.

 

Improved decision-making

With real-time access to data across all departments and geographies through Power BI dashboards, everyone in the organization, from shopfloor executives to leaders, can communicate more effectively. Also, consistency in reporting data from various sources can result in better and faster decision-making.

For example, a Power BI dashboard for management reporting can visualize and represent graphs for overall production, safety parameters, KPIs (Key Performance Indicators), and business unit performance.

Increased productivity & cost-savings

With accurate data visualized in an easy-to-understand format using Power BI, employees can save time exhausted on manual tracking and data entry and focus on more productive tasks. Further, operating in real-time with accurate data means reduced operational costs.

Improved communication & collaboration

When all departments and geographies receive consistent and updated information, it enables them to share and access reports across all teams and operate with a higher level of transparency.

Cutting-down carbon footprint

By reducing paper-based processes and providing digital insights from data, Power BI helps manufacturing organizations balance output and margins with reduced carbon emissions and achieve sustainable growth.

Conclusion

We can see how, in times defined by technological disruptions and environmental consciousness, manufacturing companies must adapt to digitizing their operations to thrive in the long term. One of the efficient ways to do that is Power BI.

Harnessing the benefits of Power BI using expert consulting services can help achieve operational excellence using the power of data for manufacturing companies. The interactive, easy-to-understand and analyze reports generated by Power BI dashboards can not only streamline operations and increase productivity – all while enhancing communication and facilitating faster decision-making with a reduced carbon footprint.

Achieving operational excellence in today’s era marked by digitalization and sustainability isn’t just a strategic milestone; it’s a commitment towards continuous improvements and efficiency. By going paperless and adopting Business Intelligence, manufacturing companies can achieve this goal while ensuring greener growth.

If you’re a manufacturer looking to use your data to achieve your operational and strategic goals, schedule a call with us to explore using our Power BI consulting services for your organization.