Over the past two decades, automation has become ubiquitous in manufacturing. Robotics, Artificial Intelligence, Machine Learning, Internet of Things and many other digital technologies make manufacturing the intelligent and smart industry it is today. Automation is helping manufacturers streamline operations, compress costs, and boost their bottom lines by accelerating time to market. Yet, rising revenues do not always lead to corresponding profit increases. That’s because most manufacturing organizations deploy digital applications and technologies in silos – both technically and functionally, leaving executives struggling to draw relevant and comprehensive insights on all critical operating parameters. The current uncertainty in the business environment driven by the COVID-19 pandemic has only heightened the need to be able to generate actionable, real-time insights to drive intelligent decision-making. As manufacturing organizations slowly begin to resume operations, they are redirecting their attention toward margin management by attempting to bring together information from multiple disparate manufacturing systems and processes.
Wipro’s Manufacturing IQ (MIQ) – Margin Manager Solution is designed to support intelligent manufacturing leveraging its cloud-based suite of manufacturing intelligence applications that provide instant access and control of all critical operating parameters - from new product introduction, production, quality, and maintenance, to supply chain. MIQ fosters collaboration across the manufacturing ecosystem by uniting plant floor operations, departments, and functions, into a connected digital enterprise. Supported by the powerful SAP HANA platform, the solution:
- Provides unit-level performance metrics aggregated at the station and plant levels, leveraging its decentralized Edge Analytics capabilities.
- Enables proactive, quick and informed decision-making to optimize profit margins – as opposed to other financial measures that mainly support reactive decision-making.
- Aligns manufacturing strategy with accounting systems by providing granular details related to profitability management.
Improve margins by knowing what really drives them
By sharpening manufacturing intelligence through holistic, contextual and actionable insights, Wipro’s Manufacturing IQ (MIQ) – Margin Manager Solution enables effective profitability management. Real-time analysis of financial cost, productivity, and quality at a granular level drives actionable decision-making to help manufacturers tide over periods of uncertainties and volatilities in demand, supply and operations. Adopting a standardized process to identify, improve and review margins periodically helps manufacturing leaders confidently rely on informed consideration rather than instinct.