Manufacturing
How to maximize your manufacturing plant's profitability?
You essentially have two main paths:
Increase throughput.
Reduce operational costs.
To achieve either, you need to synchronize the use of machinery and equipment with the availability of labor and materials. If you've got experience in manufacturing, you know it very well.
But what's the reality you're facing every day?
You're constantly reacting, just to keep orders from falling behind, leading to additional interruptions that only slow down production rates.
Excessive raw material and work-in-progress inventory are tying up working capital that could be invested much more effectively elsewhere.
Planners and operators are overwhelmed, and exhausted, struggling to make decisions with incomplete information.
You've likely tried implementing various methodologies, but the results never last. Your team loses enthusiasm, sidetracked by routine tasks and conflicting priorities.
You might have even tried off-the-shelf software, only to find it inflexible, unable to meet your specific needs, or simply too complex, being quickly abandoned.
What if you could rely on a dependable partner to solve these problems with you?
That's exactly what Mip Wise has been doing with various companies, including Embraer, Tramontina, Inova, Milbra, and Tupy.
See some examples below and schedule a call.
Our greatest satisfaction comes from enabling our clients to achieve sustainable profitability.
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Production Simulator
Identifies production bottlenecks, allows scenarios analysis, and calculate the impact of each decision before execution.
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Predictive Quality
Predicts final product properties based on process variables, reducing the need for testing and preventing losses.
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Production Scheduler
Programs the route of semi-finished products along a complex conveyor system and maximizes the production rate of the process.
Frequently Asked Questions
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It all starts with a deep understanding of your production process. That's why we often kick off with a technical visit.
Next, we help you gather the necessary data, including your bill of materials (BOM), machine capacity, labor availability, historical demand, and sales forecasts.
With this information in hand, we create a digital representation of your process. We achieve this using advanced technologies like mathematical optimization, simulation, machine learning, and other artificial intelligence models.
Finally, we develop a custom-built system that synchronizes your data and empowers you to make decisions with a level of assertiveness you can't achieve today.
Once the digital twin of your process is validated, we can:
Identify production bottlenecks.
Simulate investment and restructuring scenarios.
Optimize and adapt plans in real-time.
Automate decisions to gain consistency and agility in operations.
Provide predictability for your sales and finance teams.
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We understand the benefits of reducing inventory levels – both raw materials and work-in-progress (WIP). We also recognize the concern of not having enough material to fulfill orders on time.
Despite this being a recurring challenge, we rarely see many truly effective inventory optimization solutions in the market. While many tools exist for inventory management, they don't quite hit the mark for inventory optimization.
What's the difference?
A good inventory management tool gives you visibility into everything that enters, stays in, and leaves your inventory. But it's an illusion to think that this visibility alone is enough to optimize inventory well. Many vendors promise to solve the problem with accurate demand forecasts, but even that isn't enough.
The goal is to keep inventory levels as low as possible while simultaneously managing the risk of a stockout.
That's why we developed Mip Stock. Beyond just forecasting demand, it actually measures the uncertainties in both demand forecasts and the lead time for each product.
With this capability, our solution then optimizes inventory policies, which are scientifically sound and validated in the industry. Ultimately, these optimized policies will tell you exactly when and how much of each product to replenish.
It might sound a bit complex, but we'll guide you through the entire process.
Watch this podcast to learn more: Boteco 4.0 - Is Inventory Management Only Solvable with Artificial Intelligence?
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That's a very important question. After all, without data, there's no solution.
If you're not yet collecting data systematically, you need to start as soon as possible. The era of digitalization is here to stay.
The good news is that Mip Wise can help you with this too. We’re part of a reliable network of partners who can assist you in this initial phase, if that's your situation.
Let’s schedule a online meeting now. We'd be happy to help you design an action plan that makes sense for your business reality.
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Yes, absolutely. We have IT professionals who are highly skilled in integration and will thoroughly analyze your existing systems to make this process as seamless as possible.