Optimize Your Manufacturing Operations with Data Analytics
On June 14, 2018, MAPI will hold its inaugural Operations Data Analytics Forum in Rosemont, IL. Akshat Thirani, co-founder and CEO of Amper Technologies, a technology company on a mission to build modern and practical tools for manufacturers to get complete visibility and analysis on their operations, will co-present on the business outcomes of using data analytics and IoT in manufacturing operations.
Akshat took the time to answer a couple of questions to lay the foundation for his presentation and give us a little more insight into his background.
Q1: What are the key benefits of using data analytics in manufacturing operations?
A1: Data analytics empower people to better allocate resources and time to solving the root causes of problems. With limited resources and time-sensitive goals, it is vital that decision making is data-driven, systematic, and its effects are sustained in the long-term. Data analytics provides the right people with information that can be used for creative problem solving, rather than collecting information manually or relying on anecdotal and tribal knowledge.
Q2: Most companies are gathering data and making some attempt at analytics. What is one key thing companies should focus on in this journey?
A2: The team needs to have clear direction on what the business problems are and then can work backwards to who needs what information when. For example, if the driver in lead times is operators being motivated on their setup times, it requires very different analytics and interfaces — potentially delivered in real-time to operators. On the other hand, if the use case was for lead times being longer because of excessive maintenance stoppages and a process engineer determining the optimal maintenance schedule, the nature of data collection and analytics is very different. Data gathering and analytics need to be directed to specific use cases keeping the end users in mind.
Q3: Manufacturers have been gathering data in their factories for more than 20 years. Why is data analytics becoming such a key initiative right now?
A3: The need for a dramatic increase in efficiency is higher than ever, and leveraging data analytics is the most direct way to gain these improvements without investing in new equipment like robotic automation. This problem is highlighted further with the challenges in hiring a skilled workforce, making it important that employees are focused on the most critical tasks provided by data analytics and freed up from manually collecting and analyzing data.
Q4: How will data analytics impact the future of manufacturing?
A4: Data analytics will have a rippled impact across the supply chain, starting with improved performance within manufacturing companies. Simplified and analyzed information allows for better and quicker decision making within factories, and makes improvements more quantified and disciplined. Additionally, data analytics helps improve lead times, makes them more predictable and increases the transparency and traceability in the supply chain.
Q5: What led to the founding of Amper Technologies?
A5: Being a 4th generation manufacturer, I grew up seeing the challenges in running manufacturing plants. It was frustrating to see how complex and expensive it can be to have clean and useful information on operations — it would always be never-ending IT integration projects that were not geared towards folks on the shop floor. It’s my passion to make it accessible and simple for manufacturing companies to have the right tools for operational excellence. Amper grew from that mission, and our first product is a simple tool for machine monitoring that gives real-time operational data, with a product installed in minutes.
Want to hear more from Akshat and learn how optimize your operations using data analytics? Join other manufacturers on June 14, 2018, at the Operations Data Analytics Forum!