Data analytics to elucidate the manufacturing and complexity costs of a product
Real-time tracking and dynamic monitoring of manufacturing and complexity costs help to optimize the gross profit margin of a product. Data analytics is about analyzing and preparing all of a company’s data so that it can be used in decision making. The insights derived are crucial in the search for solutions to problems. Our team analyses the existing data on the cost of goods sold and prepares it for further data processing. The customized data model created enables you to use your data efficiently, increase your productivity or reduce manufacturing costs.
Product cost tracking
In product cost tracking, existing company data is processed and analyzed. This enables deviations in the existing manufacturing costs of a product to be identified. Necessary measures can then be derived, as well as possible alternative ways of handling company processes. Changes in the bill of material (BOM) structure are also identified and evaluated. This enables you to continuously trace the cost development of your products and to predict future developments (predictive analytics). Possible manufacturing cost increases can thus be prevented.
Visualization of manufacturing costs
On the basis of a business intelligence (BI) solution, we extract the most important data for the manufacturing costs incurred for your product and create a customer-specific visualization in the form of key figures, KPIs, reports or dashboards. The use of the BI approach enables you to collect and evaluate data in electronic form. This enables you to make decisions more quickly in the management decision making layer and improve company processes as well as supplier workflows.
Use historical data, predict future manufacturing and complexity costs
Machine learning and artificial intelligence (AI) are used to evaluate the company’s historical and real-time data collected during data analysis. Predictive analytics picks up on trends in future developments and processes. On this basis, we can forecast the behavior of the manufacturing and complexity costs of any product for you.