2 Aug
2018

How Food & Beverage Manufacturers are Using Analytics to Cut Costs

How do food and beverage manufacturers contain growing expenses? By implementing IIoT solutions, which crucially employ the gathering of food and beverage analytics, manufactures can develop appropriate solutions.

Analytics
Food Manufacturing IIoT
Industry 4.0
Smart Factory
IIoT
Comment les manufacturiers de produits agroalimentaires et de boissons utilisent l'analyse pour réduire les coûts

How do food and beverage manufacturers contain growing expenses? By implementing IIoT solutions, which crucially employ the gathering of food and beverage analytics, manufactures can develop appropriate solutions. In doing so, factories can become smarter: Base decisions and problem solving strategies on quantifiable data rather than on educated guesstimates and forecasts based on partial data capture

In, "Food For Thought," a paper on the food and beverage practices by Marsh, they explain how food and manufacturers can use food and beverage analytics and tools. In doing so, "food and beverage companies are assigning values to the unknown, forecasting the extent of potential financial damage, and assessing possible mitigation opportunities to manage their exposures." 

This approach, Marsh writes, is helping manufacturers to "drive intelligent business decisions and change." 

 

 

How to use food and beverage analytics?


Here are some examples of how to quantify value by using food and beverage analytics according to Marsh:

  • Capture and analyze the potential volatility of new facilities and product lines as they relate to the bottom line
  • Forecast the probability of potential losses through a database of comparable industry data
  • Explore a range of potential loss out comes.
  • Identify all potential risks, including those that haven’t historically led to losses
  • Flagging excessive risks before an incident occurs
  • Early identification of product exposure

Source + read the entire paper.

 

 

Want to learn more?
Download the ebook
Related blog articles

Articles connexes

Retour au blog
Nous vous remercions ! Votre demande a bien été reçue !
Oups ! Un problème s'est produit lors de l'envoi du formulaire.
19
Avril 2021

Learn How to Improve Raw Materials Yield by Connecting Your Scales and Checkweighers

English
5
Fév 2019

Un Montréal à saveur d'intelligence artificielle

French
21
Août 2019

Le partenariat qui fait toute la différence !

French

Articles connexes

Retour au blog
Nous vous remercions ! Votre demande a bien été reçue !
Oups ! Un problème s'est produit lors de l'envoi du formulaire.
23
Janvier 2024

Optimizing Company-wide Operations: Data Analytics in the Manufacturing Industry With Worximity

Explore how Worximity is reshaping manufacturing by harnessing real-time data analytics, bringing efficiency and innovation to Industry 4.0 while empowering departments beyond production management.

English
9
Janvier 2024

Manufacturing Trends to Lookout for in 2024

As we look at manufacturing trends for 2024, pressure to stay on top of current trends and maintain competitiveness are at an all-time high

English
21
Déc. 2023

Les coûts multiples liés aux problèmes de contrôle de la qualité

Mesurer les rejets et les défauts de qualité est essentiel dans un contexte d’initiatives de production Lean et d'amélioration continue. Découvrez les principaux coûts liés aux rejets de qualité en lisant cet article.

French