Supply chain issues are one of the most common issues in manufacturing and an extremely costly one. One study estimated that $1.9 trillion of economic value could be created by automating the global supply chain and logistics sector.
The question for small manufacturers is where to invest time and money to improve their supply chain to reap some of that value themselves. The good news is that there are affordable hardware and software options that can make a big impact on the bottom line.
Start with the Data
Your ERP or data warehouse solution is the best place to start to revamp your supply chain management. Replacing manual data processes with automated ones can create efficiencies that can quickly save money. One example of a manual process is the traditional paper-based ticketing systems. Paper tickets are simple and easy to use but can cause expensive delays between realizing inventory is getting low and orders being placed.
Triple Helix client Constitution Cable was running into this problem with an old data management platform and paper tickets. Switching to a cloud-based solution using a single database to track supplies, orders, and outgoing inventory eliminated paper tickets and increased the company’s workflow by 50%.
Automating Data Speeds Up Response Times
Another benefit of automating data gathering is it enables the use of the data for real-time reporting. You don’t know how accurate your supply estimates are if you don’t have an accurate read on how it is being used. Real time reporting can provide that clarity.
Triple Helix client, Nortek Inc., found that real time data allowed them to plan jobs and scheduling more accurately by being able to see all jobs in the queue and arrange them by status, due date, or priority…and see the impact any changes would have on supply inventories.
Of course, once you have your data organized and automated to help you make better business decisions, you have created a platform that makes it easy to add hardware solutions. Hardware add-ons that are considered elements of the Industrial Internet of Things (IIoT) can provide you with immediate updates on incoming and outgoing inventory, job statuses and more, further improving your operational efficiency.
However, the value of any IIoT solution is dependent on your operation’s ability to accept, store and analyze the data it provides in real-time. Since 2004, Triple Helix has provided data and information systems for the aerospace and manufacturing industries. Contact us if you would like to schedule a risk-free consultation to see if Triple Helix can help your company develop real-time data processes that can harness the power of IIoT solutions.
