We aren’t meeting current production/service expectations. How do we change that?

We aren’t meeting current production/ service expectations. How do we change that?

When you became the CEO of your company, you understood the demands to manage effective functions and logistics of the organization. You also understood that building relationships with suppliers, shipping services, and warehouses were key to success. However, when you discover that your company is not meeting its production and service expectations, you realize that relationship building is not enough. If you do not have the appropriate tools in place to accommodate the desires of your customers, then your business relationships will crumble.

What Other Organizations are Doing to Meet Production and Service Expectations

Today, successful businesses are employing data analytics to improve their manufacturing processes and improve margins. For instance, manufacturing companies are finding cost savings by scheduling certain production efforts to take advantage of varying electricity prices.

Organizations are also leveraging data analytics in response to the “retail apocalypse,” or collection of retail bankruptcies in recent years. When looking to manage omni-channel supply and demand, businesses are using data to better anticipate product needs, place of need and time of need.

Data, properly collected and analyzed, helps companies grasp their current state, the state of the market, and what needs to change in their operations.

How Can Analytics Help Solve Your Production and Servicing Problem

Analytics brings you the power of understanding. You can turn this knowledge into exceeding expectations. Predictive, descriptive, or prescriptive analysis can help to transform your operations and logistics and better anticipate your customers’ needs. As a result, you’ll meet your customer’s expectations. Here are the spectrum of analytics that can help you meet production and service expectations.

• Descriptive and diagnostic: descriptive or diagnostic analytics can help you understand how resources are currently being used or underused, and the primary drivers of operational outcomes. For instance, is your call center sufficiently staffed for the volume of calls coming in? How long are those calls on average and what types of issues are being addressed, and when? Analyzing this information can alert you to quality issues or opportunities for operational improvements, or new product and service developments. Understanding operations and logistics issues across your organization is the first step towards improving them.
• Predictive: predictive analytics uses past outcomes and correlates them with present elements to anticipate potential results, helping you forecast future outcomes. These forecasts range from anticipating when your customers will need your product to advising you which of your services will trend the most in the future. This can help you plan better to meet all expectations, from purchasing and production to delivery and customer service.
• Prescriptive: prescriptive analysis uses detailed information to make recommendations for future actions. For instance, a medical supply company may create a data-driven model to understand how an increase in the cost of a wheelchair will impact sales and insurance reimbursements. This type of analytics helps a company make the right decisions to meet its customers’ needs, market demands and maximize profits.

The Importance of Adding the Right Data and Analytics Team Members

Ensuring your company has the right analytic tools to improve its manufacturing and service operations is critical. However, without top quality and vetted analytic professionals to get the most out of your data, you’re wasting time and energy. Organizations investing in their analytics functions by adding new capabilities and talent to their existing team for critical needs are growing. Enhancing your team with additional permanent talent, supplemented by project-based analytics professionals, allows companies new to this technology to successfully transform their operations and logistics and scale their teams as they make inroads in analytics.

Chisel Analytics can find the right data science talent to help you grow your team and help you meet your production targets and your customers’ service needs. Chisel vets top talent with our proprietary skill assessments across 6 key elements to ensure you hire the most qualified analyst for your critical needs. We ensure that the addition is seamless, giving your company the efficiency and reliability you need from your workforce.