Page 35 - Food&Drink July 2019

DRIVEN BY DATA
Industry 4.0 is transforming the supply chain. To make the most of the wealth of data that is available, artificial intelligence (AI) can implement demand prediction to help forecast quantities of ingredients that will be required at certain times of year.
Many factors fluctuate demand, from seasons and weather all the way to major sporting events. Using AI to integrate forecasting technology into a facility’s inventory management creates data-driven modelling that makes sure stock is replenished with the required materials to fulfil orders.
The technology can go one step further to enhance inventory management, by scouring data and learning from the information to recommend actions, either with human approval or autonomously.
BE PREPARED
Production, warehouse and shipping processes of inventory management are often deemed the priority. But there is another critical piece of inventory that is often ignored, the parts needed for production.
Imagine this. Production at the bottle capping machine in a soft drink manufacturing facility comes to a grinding halt. The line manager realises the conveyor belt motor used to move the bottles along has broken. Replacing a motor may seem straightforward, but if the exact replacement is not available in inventory, the impact can be drastic until new equipment is sourced, purchased and installed.
For food and beverage manufacturers, this unexpected downtime
can be costly. Even a few hours out of action can put
production several batches behind schedule, which could result in delayed deliveries, rejected orders and unhappy customers.
Automated inventory management ensures integral parts are consistently available. Using the same technology, the software can be programmed to automatically reorder parts that are running low so that the facility is never left without the correct components, without the expense of stockpiling.
For a business to make the most out of its assets and boost its profitability, it needs to implement software that can automate the inventory management process. With sound inventory management, food manufacturing plants gain a better understanding of their own stock and their customer’s needs and remove the risk of bad apples. ✷
Automated inventory managment means customers will not miss out on their favourite bickie.
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