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Smart Factories: Shop Floor to Top Floor

Smart Factories: Shop Floor to Top Floor

The new industrial revolution, otherwise known as Industry 4.0, or Industrial Internet of Things (IIoT), implies the development of the so-called ‘Smart Factory’. Accordingly, large manufacturing businesses share a common strategic imperative: improve….

Growing manufacturing profits based on Six Sigma methodology

Growing manufacturing profits based on Six Sigma methodology

​For decades, the Six Sigma methodology for quality management has helped manufacturers get quality standards under a very tight range of product variability. Just imagine if you could apply that same rigor to managing profitability of all the products your firm manufactures.

Win ‘The Price Is Right’ Every Day in Manufacturing

Win ‘The Price Is Right’ Every Day in Manufacturing

The long-running TV gameshow ‘The Price Is Right’ gives contestants the chance to win cash and take home big prizes if they are good at naming the right price for various products. The manufacturing business works precisely the same way.

How Predictive Analytics are Disrupting Manufacturing

How Predictive Analytics are Disrupting Manufacturing

Profit Velocity’s predictive manufacturing analytics show you how changes will impact profitability. You can scan through numbers on a spreadsheet to analyze the results or generate colorful charts to visualize where each product lands on the profitability scale in different scenarios.

The One Manufacturing KPI that Matters

The One Manufacturing KPI that Matters

The ‘profit per unit’ analysis most manufacturers focus on does not address the speed of profits whatsoever. This is why having a profitability analysis that uses time-based analytics gets manufacturers and investors on the same page.

Targeting Your ‘Hidden Winners’ and ‘False Profits’ to boost EBITDA

Targeting Your ‘Hidden Winners’ and ‘False Profits’ to boost EBITDA

To chart the best path to reach your profit goal on time, you first need to understand the true return on assets of each item you make. The flaw in traditional manufacturing analytics is that it doesn’t provide a true picture of production cost per unit. Without precisely factoring in production time, you cannot accurately calculate total manufacturing costs.