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Measuring your quality metrics can allow your production facility to collect and analyze relevant data within production and develop a more concise picture of how well your overall supply chain is operating.
What is Manufacturing Dashboard?
A Manufacturing Dashboard helps to keep track of the most important production KPIs in one central point of access. This dashboard is helpful for the manufacturer team to track and optimize the production quality, Stock maintain, Cost management, Supply chain management, etc. By using valuable Business Intelligence tool manager are able to manage manufacturing cost related job effectively.
Why Production KPIs are important for industry?
For the statement “things that cannot be measured cannot be managed” that is, if there is no provision to track the state of the business then we cannot see the progress of the company. Any manufacturer who wants to move the business to the next level needs to collect and analyze relevant data and focused metrics.
There are floating numbers of KPIs and metrics, but not all of them are relevant to our business. To choose the right KPI, one needs to have complete knowledge of the company’s background. Based on the factors and analysis of the company’s plan for KPI. The right metrics can help a manufacturer find sticking points or weak spots in its production floor, and it has all the information and insights it needs to improve and refine its business.
Some KPIs are discussed below which will help you to improve the business. It is a basic KPI and can be applied in almost all manufacturing industries.
- Capacity Utilization: This metrics shows how much you are using your available capacity. Buying machinery and equipment can be cost effective, so you need to maximize their use. This helps to balance your workload so that you can reduce the condition of the products going undersell or oversell.
- On Standard Operating Efficiency: If you are using an incentive system in the company, you need to measure how the employees are performing against the labor standards you used for production analysis. If the count is low, it is an advantage to investigate the method and perform post-production analysis. This helps track labor cost performance for the KPI company.
- Overall Operating Efficiency: The overall operational efficiency metric can be defined as the ratio between output and input received from a business.
- Machine installation time: People in business are wasting a lot of time in setting up the machine. This key metrics helps business owners know the time it takes to install a machine in each unit.
- Inventory Turns: It is the most important metrics for inventory level management. This helps keep track of the number of inventories or is sold over a time period such as a year. It also helps a manager maintain stock and be free from overstock. It also helps in maintaining overstock of products.
- Quality: There are many ways to measure the quality of a product. Percent defect is one of several ways by which you can measure quality. Measuring quality is always a priority job for the business. This quality metric helps to know the insights of the quality department.
- Scrap Calculation: Buying a raw material for manufacturing can be expensive so reducing scrap is important. Scrap analytics helps reduce scrap by analyzing dashboard graphs. An employee can be provided with better training to reduce wastage.
- Delivery On-Time: This KPI helps motivate the company employee for better performance and keeps the customer happy for delivering product on time. Analysis of dashboard managers allows the percentage of total products to be delivered on time.
Benefits of using Production metrics
Manufacturing analytics are using smart analytics to improve company products and customer satisfaction. Below we have discussed few points of benefits of production metrics.
Real-time data visibility:
Be ready to take decision for the company benefits at any time. By visualizing real-time data of a company, you can take actionable decision anytime.
Be consistent with your operation. You can see defect rates, progress against production target, machine metrics, labor turn over rates and more. All the necessary insights can be viewed anytime.
Customize and share analytics with your teams and within your organization. Print out or display key metrics for better communication in your enterprise.
Manufacturing Dashboard and Examples
Supplier Analysis Dashboard
Scrap Analysis Dashboard
Cost Analysis Dashboard
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MIS ExecutiveBrijesh is working as MIS Executive at EzDataMunch. He is responsible for maintaining and generating all the reports of organization. He is also involved in Marketing related activities such as E-mail Campaign, Lead Generation and Video Marketing for our organization.