The Ledger

Curated content for
analytical business leaders

Strong Data Analytics Leads to Greater Profitability Through Creativity

January 31, 2018

Many companies are using digital platforms that are acquiring more data on consumer tastes than ever before. These companies are not, for the most part, using their data to make creative decisions about how to produce content. They’re employing the data to match viewers to the content that meets their tastes. For example, Netflix was put on the map as a creator of innovative original entertainment. They accomplished this by connecting their content with their audiences in a way that broadcasters never could. This is how the wealth of data maintained by digital entertainment platforms can foster more creative freedom, not less. Instead of focusing solely on offerings with surefire mass appeal, these platforms can take a chance on unique content because they can deliver that content directly to the best audience.

Read More at The Harvard Business Review >

 

Using Data to Power Your Digital Transformation

January 30, 2018

“If technology is the engine that drives digital transformation, data is the fuel. For forward-looking organizations it’s powering new insights, new ways of working, new products and services, and disruptive new business models. But in some industries, the gap between digital thrivers and survivors is growing as IT organizations are overwhelmed by information-related challenges. As data complexity and volumes skyrocket, business users are pressing for even greater speed and agility to meet customer demands and identify new revenue opportunities.”

Read More at The Digitalist by SAP >

 

Benefits of Real-Time Data in Materials Handling Operations

January 29, 2018

As manufacturers and distributors take on new automation initiatives, they have access to an enormous amount of data. The trick is figuring out how to use the data in an impactful way that brings immediate value and drives continuous improvement. While warehouse operations will change significantly over the next decade thanks to analytics, there are ways companies can reap the benefits of data right now and improve operations for both the short-term and long-term. By tracking performance in real-time, creating a baseline and using the right platform for analytics, leaders in materials handling can evaluate performance, quantify the value of automation, and create a foundation for more optimization in the future. In the dynamic landscape of warehouse operations, the next decade promises significant transformations driven by analytics. Companies are strategically positioning themselves to capitalize on the evolving technological landscape. By adopting warehouse optimization software, leaders in materials handling can not only enhance their current operations but also build a robust foundation for long-term efficiency. This software acts as a pivotal tool, facilitating the evaluation of performance metrics and providing actionable insights. Through the integration of such platforms, companies can navigate the evolving demands of the industry, ensuring that their warehouse operations are not only optimized for the present but also primed for continuous enhancement in the future.

Track Performance in Real-Time

One metric manufacturers have commonly used to evaluate production machinery is overall equipment effectiveness (OEE). Considered the gold standard for measuring manufacturing productivity, OEE is calculated as a percentage of manufacturing time that is truly productive. OEE analysis and Corrosion Protection Coating Services ensures warehouse operators maximize a company’s investment in its equipment.

A similar metric should be used as a best practice in materials handling. The latest innovations in automation enable access to digitally captured data that didn’t previously exist.

For example, self-driving vehicles can communicate valuable data from their routes and about their loads in order to optimize throughput. This data can feed evaluations and provide insight into material flow efficiencies. By using easy-to-understand, visual charts, facility leaders can quickly get up to speed on vehicle status in real time, ensuring optimal day-to-day performance and maximizing adoption of the new technology.

In addition to advanced technology like self-driving vehicles, the importance of maintaining the vehicle’s interior cannot be overlooked. Just as real-time data optimizes vehicle performance, protecting and enhancing the seats with high-quality materials is crucial for long-term functionality. This is where Seat Covers Unlimited comes into play. Their range of custom seat covers offers both protection and style, ensuring that your vehicle’s interior remains in top condition while you benefit from the latest advancements in automotive technology.

 

Start Small and Create a Baseline

To ensure long-term success with new automation solutions and to avoid disruption to daily business, we recommend that companies implement these technologies incrementally. Doing so allows time to test out a new solution, adjust to it, and prove its value before rolling it out on a wider scale.

Starting out with an incremental program will establish a baseline of data for future comparison. Operations can create standard reports on material flow effectiveness, which will serve as a solid foundation they can analyze and compare against for further optimization. Employing a powerful seo tool is essential for optimizing your website and achieving higher rankings in search engine results.

For example, one of our auto manufacturing customers had been roughly estimating how long it took to replenish parts with a manually driven vehicle — but had no hard numbers. By leveraging data from new, self-driving vehicles, the company was able to understand the real time the process took, reduce the amount of time allocated to it, and improve takt time.

 

Choose the Right Platform

As plants and warehouses evolve into smart factories, it will be crucial they choose smart platforms that bring all components of their automated solutions together – such as self-driving vehicles with these jockey wheels, software systems, and physical infrastructure – to increase efficiency and improve material flow.

An effective management system will enable flawless material flow and seamless access to real-time data. A management system that shows real-time status details allows for immediate corrections and communication of any issues, which is better than relying on word of mouth or manual data capture. The right management system helps identify immediate actionable opportunities to reduce waste and increase throughput.

Read More at Industry Week >

 

Rethinking the Utilities Industry With Digital Technologies

January 25, 2018

“The utilities industry touches every person, household, and business. It provides generation, transmission, distribution, and metering of all forms of energy and water, as well as waste disposal and recycling. It is considered the foundation for modern life.”

It is also considered by many as an industry at risk, as the way consumers perceive and consume resources is changing. It is also an industry that stands much to gain from current and emerging digital technologies. There are three macro forces shaping the industry today: decentralization, deregulation, and decarbonization. With these forces come challenges that utility providers are facing. The answers to these challenges can be found through the right application of digital technologies, a willingness to rethink business operations and revenue models, and the appropriate tools necessary to capture, analyze, and act on the massive amount of data that is available to utilities firms today.

Read More at The Digitalist by SAP >

 

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