It’s no secret that capturing data and analytics is important for succeeding in Industry 4.0, but the real key is ensuring that everything is actionable. Mastering the process of capturing, analyzing, and reacting to data will dictate a manufacturer’s ability to increase on-time deliveries, optimize efficiencies, automate manual processes, and more.
For this reason, 66 percent of manufacturing CEOs selected Data Scientist as the most-needed type of worker for future growth according to a KPMG survey.
The updates from NetSuite 2019 Release 2 reflect its understanding of manufacturing and supply chain industries, along with the importance of data and analytics. This release features new analytics-driven Merchandise Hierarchy, Commerce Search Analytics, new SuiteAnalytics Workbooks, enhancements to Advanced Manufacturing, and new customizations for the tablet application used by shop floor personnel.
All of these updates combat industrial downtime, which costs $647 billion per year, according to the International Society of Automation. (source)
The Merchandise Hierarchy provides insights for all attributes and item types, while Commerce Search Analytics reveals the search patterns of web customers. 2019 Release 2 also includes pre-built manufacturing analytics that enables users to quickly navigate the data, and drill into specific data sets with complex criteria filters.
Manufacturers can use SuiteAnalytics Manufacturing Production Workbook, Master Schedule Analytical Workbook, Purchases Workbook, and Inventory Workbook. Leveraging these workbooks provides access to better data and can lead to faster deliveries, and more efficient processes.
To this same end, NetSuite improved its Advanced Manufacturing module to optimize shop floor productivity and streamline activities. It has Serialized Components for recording assembly build data, Inventory Status for prioritizing work orders based on status, and new Production Unit of Measure options to expedite the process of recording production quantities.
NetSuite’s tablet application for shop-floor personnel received an update to the Quality Queue Customization for better prioritization and identification capabilities during inspections.