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“Using advanced analytics to manage the supply chain and reduce costs has become imperative. FICO has been critical to the optimization needs at Nestlé USA.”
- Shan Collins, Vice President of Planning & Center of Excellence, Nestlé USA
Although many of the problems manufacturers need to solve are the same ones their predecessors struggled with decades ago, changes in global economics and buyer behaviors continually introduce significant amounts of new problems and complexities that manufacturing leaders are forced to address.
In order to find ways to do more with less, in less time, for the ideal balance of costs, throughput, and timeliness, innovative manufacturers have put increased focus on the ability to:
The ability to rapidly convert different types of data into insights and action is the key point of transformation for manufacturers trying to strike the right balance between inputs, outputs, business objectives, compliance, and ultimately customer demand and preferences.
FICO® Manufacturing Solver, one of several Xpress Insight solutions available, is a pre-configured framework that accelerates time to value. With the most comprehensive and tailored machine learning and optimization algorithms, users are able to navigate complex trade-offs, manage risk, and achieve complex business objectives for multi-modal, multi-echelon manufacturing and distribution networks.
FICO Manufacturing Solver helps businesses:
Additional complementary Xpress Insight solutions include FICO® Supply Chain Solver, FICO® Forecaster, and FICO® Vehicle Routing Planner, as well as build-your-own.
Close the “forecasting gap” with broader data, faster analytic results and smarter decisions
Using advanced analytics, such as machine learning and explainable AI, you can go beyond traditional forecasting inputs to weigh a wider range of data for more accurate and dynamic projections of demand, planning production capacity and supply flows accordingly. Simulation and optimization let you rapidly explore any number of demand scenarios to improve long-term capital planning and short-term tactical planning. Scheduling optimization balances myriad factors, including goals like accelerating fulfillment to priority customers, improving overall equipment effectiveness (OEE), reducing safety stock and widening margins, to recommend the current best schedules.
Ensure resources and capacity are where you need them when you need them
With more accurate demand forecasts as inputs, along with data from production and suppliers, supply chain optimization recommends the most efficient part and component inventory levels. Use it with simulation to develop tactical sourcing strategies for handling spikes in demand or coping with supply chain disruptions. Optimization can also be applied to other complexities of supply chain management, including logistics concerns such as warehouse dock door scheduling, transportation network design and production facility location.
Improve quality, reduce costs, increase customization capabilities and optimize resource utilization
Manufacturing ERP systems gain agility when you use them with an external rules service. Without need for IT assistance, your business experts can easily set up rules-driven routines to accelerate complex, repetitive tasks, like updating material master lists and validating orders at the detailed level of component configurations. Streamlining such tasks reduces production delays, rework and scrap while facilitating custom factory builds.
Reduce downtime through predictive asset maintenance
Decision rules add intelligence to diagnostics systems, reducing time-to-identification of the root causes of production problems. Analytic models identify machines that are outliers in terms of expected ranges of production, speed or energy consumption — triggering maintenance intervention before failures occur. Machine learning can analyze a wide variety of factory data for insights — like relationships between humidity and machine energy consumption — that point to improvement opportunities.
Get products to customers with less spend, more speed
Optimization can identify the best choices among several million routing options in seconds. In fact, optimization, along with rules-driven automation and other advanced analytics, can help you make better decisions about all of the interrelated complexities of product fulfillment: container types, load building, carrier selection, truck load allocation, route assignment and more.
Time: 9-11am & 1-3pm EST on both days
Are you an operations research or data scientist role and want to become an expert in FICO Xpress Optimization and Xpress Insight? Register for this upcoming web-based training session and receive two days of classroom-style, hands-on instruction from FICO experts.
We want to help you future proof the next step in your organization’s journey by sharing the lessons FICO experts have learned about building resiliency during tumultuous times. Register below to gain access to our virtual event series.
From April 20 through May 28, FICO will host a series of live webinars sharing best practices and strategies for resiliency in your organization. The topics fall within six tracks including adaptability, digital customer engagement, risk management, operational efficiency, building trust and protecting customers.
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