Seasonal products are a major component of many manufacturers' output. While the concept may bring Halloween costumes and Christmas decorations to mind, there are many products that are only produced or sold during certain times of the year and have nothing to do with holidays. For large manufacturers that operate in many different countries and regions, the likelihood of seasonal production increases. To accurately forecast demand and plan ahead – needs made more pressing by the lack of continuous data about cost, sales and many other considerations – predictive analytics is an essential consideration.
"Using business intelligence software and similar tools is no longer optional."
Predictive analytics becoming a necessity in the manufacturing world
According to statistics shared by Forbes from a Honeywell survey, 68 percent of manufacturers are currently investing in data analytics and close to half of all such companies surveyed believe using business intelligence software and similar tools is no longer optional. The most telling statistic gathered during the survey may be the indication of how many manufacturers see analytics as vital, above and beyond most other needs. About 67 percent of manufacturers will invest in analytics even though market conditions and operational considerations mean reducing spending in many other areas.
The general value of predictive analytics is well-known, and the ability to accurately forecast future demand on a seasonal basis is even more vital. With a host of unique, time-dependent considerations to make and less data to use in that process – along with all of the considerations that come with regular manufacturing – effective seasonal production is a difficult proposition. However, the right analytics solutions and effective approach to managing these concerns can lead to very positive results.
Aviana's work with Kawasaki Motors Corp. was focused on seasonality and conquering the related complexities of production. Many of Kawasaki's high-performance sports vehicles are made on a seasonal basis and the company needed an increased level of insight to enhance planning efforts and improve its performance. By working with Aviana to build on its existing IBM Cognos TM1 application and reinvigorating its IBM Cognos Business Intelligence environment, Kawasaki improved reporting outcomes and allowed more than 200 users to gain earlier access to more accurate information. To learn more about Aviana's work with businesses in the manufacturing and heavy industry sectors, visit our dedicated resource page.