We’ve all seen the moment.
The studio audience waits as Bob Barker (or, for you kids out there, Drew Carey) calls some poor sophomore from UCLA down to the front row. He’s supposed to guess the price of a kitchen, complete with a new fridge and other appliances this young man has never used on his own before. He cannot phone a friend—that’s another game show—so he must do something discrete manufacturers can relate to.
The young man must place a bid while lacking the data he needs to be right.
Discrete manufacturers know a lot more about placing an accurate bid on a job than the young man knows about the cost of dishwashers. Still, far too many manufacturers lack the data they need to submit a profitable bid. Knowing your real-time machine utilization rates, set-up times, downtimes, and how your targets align with actual performance is essential data that forms the foundation of any profitable bid.
Unfortunately, shop floor data is often not accurate, timely, trustworthy, or accessible. Managers, when submitting a bid, are forced to go with experience, intuition, limited data, and a lot of hope. Those can be an effective combination and are used by discrete manufacturers across the country. But they aren’t the tools used by discrete manufacturers who value innovation and want to create a culture powered by innovation.
Profitable or No: You Need Analytics to Win
Leading manufacturers understand just how important
manufacturing intelligence is. They may not have adopted tools that give them
the real-time analytics they need—but they know times are changing. They know
the difference between a profitable and unprofitable job (and company) is often
found at the very margin of a bid.
The young man submitting his bid on the Price is Right has a better shot at winning if all his competitors know as little about household economics as he does. But that’s never the case. That sophomore at UCLA may have the highest SAT score of anyone in the audience. He may have a bright future as a surgeon, a lawyer, or something else that requires a lot of raw brainpower. He has his good qualities.
But he will never place a better bid on a brand-new kitchen than the mom from suburban Cincinnati standing right next to him.
Last week, her dishwasher inexplicably began betraying her. Everything comes out dirtier than when it went in. So this suburban mom did a little research. Turns out, by the time she made it to the studio audience, she knows the exact price of a new dishwasher.
She has the data she needs. Follow her lead.
Give your team the chance to submit profitable bids.
Alora by Data Inventions delivers the real-time data,
advanced analytics, and manufacturing intelligence discrete manufacturers need.
Interested in learning more?