Analytics expertise is a crucial driver enabling smart factories’ growth, with ten key metrics essential for keeping the next generation of smart manufacturing centers on track.
43% of manufacturers had smart factory projects underway in 2017, growing to 68% this year, according to the new Smart factories @ scale Capgemini survey. Capgemini found that discrete manufacturing leads all other segments in its planned transition to smart factories by 2024. Manufacturers are also planning to launch 40% more smart factories in the next five years, increasing their annual investments by 1.7 times compared to the previous three years.
Only 14% of smart factories say they are succeeding, however. That’s a sure sign every smart manufacturing pilot underway needs greater accuracy, clarity, and precision when it comes to measuring each pilots’ progress. The bottom line is the future of smart manufacturing is being built on a foundation of analytics today, and ten key metrics emerge as essential for their success:
- Carrying Cost Of Inventory
- Customer Satisfaction Levels
- Demand Forecast Accuracy
- Fill Rate Effectiveness As a Percent Of All Orders
- Gross Contribution Margins by Product, Production Facility, and Business Unit
- Inventory Turnover
- Order Cycle Time
- Order Pick, Pack, and Ship Accuracy
- Perfect Order Performance
- Supplier Quality Index