How Manufacturing Industry can boost operational efficiency during the COVID-19 Crisis?
COVID-19 impact on the operational efficiency of the manufacturing industry is not at all inspiring. The industry must explore innovative options before the uncertain effect becomes a harsh reality. The worldwide lockdown means people driven processes in manufacturing units like inventory management, raw material procurement, regulatory compliance and many more have been badly hampered.
Therefore, ample space exists for implementation of automation technology to optimize critical processes and combat the challenges set forth by COVID-19. Experts deem it as a perfect solution to boost operational efficiency and improve monitoring for maintenance of transparency in an organization. After all, come what may there is no alternative to business must experience growth.
Automation of back-office ensures less time required for products to reach the market due to enhanced operational efficiency. This way, despite the reduced workforce productivity level, won't see a downfall
Improving operational efficiency amidst COVID-19 has become a bigger pain point for manufacturing units than it was in pre-pandemic era. But the business process automation will solve the problem in the following manner.
- Access to real-time data
- Improved level of customer service.
- Switching between different employees to avoid delays
- The invoicing process becomes better
- Shared Services model would be implemented for some processes hanks to Saas , Paas , IaaS.
- Consolidation of physical footprint (infrastructure)
Types of Automation to Improve Operational Efficiency Business process automation and Business activity monitoring is helpful in finding and fixing production-related problems beforehand. This way, small issues don’t transform into bigger bottlenecks..
Report automation enables the sales team with real-time data (orders to be dispatched, daily sales order, daily invoices processing, and more ) that is crucial to capture maximum sales with minimum efforts.
Big Benefits of Manufacturing Process Automation
The above-mentioned benefits collectively work towards automating back-office tasks that would have cost more resources and money. Therefore it reduces the time required for the product to reach the market and enhances operations to attain next-level success
Role of Unstructured Data to Enhance Operational Efficiency
Tons of unstructured data produced on a daily basis in the manufacturing industry are capable of generating value-driven insights upon the application of artificial intelligence. Having said that, this results in the development of a predictive maintenance system
It helps manufacturing units to predict under what circumstances the system is going to face failure. Moreover, it helps to be ready with a replacement or solution. In either case, the downtime is significantly shortened and machine lifetime increases by up to 40%. Thus , impact of an upcoming crisis can be reduced significantly and intelligently.
Unstructured data empowers manufacturing units to avoid losing millions of dollars due to temporary pause on production
On The Whole
The undefined impact of COVID-19 on companies should not only be viewed as a calamity but also as an opportunity to boost efficiency and serve customers with nothing less than what the deserve - the best. Thankfully ,it is totally possible with the power of automation and by leveraging the unstructured data using AI.
It’s the time to face the challenge and emerge as a leader with a winning attitude than to resist the situation and be stuck at the same spot waiting for a miracle. Moreover, the latter option is more likely to highlight the inability to compete and innovate under crisis.
Crisis Never Stops Why Should You?
MatSci AI has developed the Knowledge Graph enabled AI Solutions for Manufacturing Industries to Optimize Raw Materials Cost and to Analyze Unstructured Data