As the landscape of the manufacturing supply chain goes through an evolution, the focus of the supply chain management function itself has shifted to advanced operational planning processes, such as analytical demand planning and integrated S&OP. Industry 4.0 has resulted in creating a massive disruption that requires companies to rethink the way they design and optimize their supply chain. Several technologies are now being applied which can alter the traditional ways of working. Along with the basic need to adapt to changing customer needs, supply chains also have the opportunity to directly impact the operational effectiveness levels and transform the organization itself into a digital supply chain.
We now have welcomed Supply Chain 4.0 to our manufacturing floors. This is the application of the IoT, by applying advanced robotics and advanced analytics of big data in supply chain optimization. As manufacturers place sensors in everything, this helps create supply chain networks everywhere, automating anything, and analyzing everything to significantly improve performance and customer satisfaction.
Here are some interesting statistics:
1. According to PwC, AI has the power to transform the way business is done and contribute up to $15.7 trillion to the global economy by 2030.
2. McKinsey studies reveal that among the various industries to benefit most from AI in supply chain adoption, supply chain management is in the top three, and 76% of the survey respondents in supply chain companies have already reported moderate to significant value from deploying AI.
Today, artificial intelligence has the ability to enable exceptional agility and precision in supply chain optimization. It can also trigger a transformational increase in operational efficiencies and a decrease in costs where repetitive manual tasks can be automated.
ELI- The AI-driven Bottleneck Elimination Product
ThroughPut’s ELI is an AI-powered bottleneck elimination engine that analyzes existing industrial data in real-time. ELI is continuously detecting, identifying, prescribing &preventing your shifting operational bottlenecks to save millions in delays, inefficiencies &lost revenue.ELI helps companies optimize supply chains easily to achieve and scale data-driven operations using AI. It focuses on the five key pillars of lean operations:
FASTER CYCLE TIME
ELI ensures your cycle-time becomes faster by eliminating operations bottlenecks with ease and minimal effort.
BETTER DEFECT RATE
ELI creates better defect-rate predictions using existing data leveraging multi-variable heat maps, geolocation tracking, and data-quality maps.
LEANER INVENTORY
ELI facilitates working with leaner inventory stocks and boosts inventory turnover and labor productivity rapidly at scale using real-time and on boards.
SMOOTHER UPTIME
ELI ensures uncertainties are reduced to the minimum which creates uninterrupted productivity and uptime.
SAFER FAILURES
ELI reduces costly, excess industrial waste by detecting and eliminating the ever-shifting bottlenecks, resulting in safer operations.
Whether you’re looking to reduce cycle time, avoiding machine failure, optimizing inventory, or even making your community and the world a less wasteful place, ELI – supply chain management software improves your operational excellence in every way. If you wish to learn more about our product and choose the version that works best for you, please click here for a demo.