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How Will Real-Time Management Boost Your Productivity?
Long gone are the days when you had to wait several days for the latest reports about your business. Real-time management facilitates your manufacturing and supply chain processes, so you get the right information at the right time. Using the latest metrics can help you make smarter decisions about your organization and solve problems in a speedy time frame. Here are some of the benefits of real-time management.

1. Improve Your Inventory

Forty-six percent of small and medium businesses still don’t track their inventory or rely on manual methods [1]. These companies could be losing out. Real-time management tools like Prodsmart utilize the industrial internet of things (IIoT) so you can optimize inventories and save time and cash.

Prodsmart provides you with real-time insights into your supply chain. As a result, you can track raw materials, source intermediate products, and find out where your products are on the shop floor. Using real-time management tools will reduce human error and improve workflows in your organization.

2. Enhance Production Tracking

Real-time management and smart manufacturing tools expedite production tracking and provide you with valuable intelligence about your manufacturing process, from the planning stage through to product fulfillment.
With production management and tracking metrics, you can view production milestones from one central dashboard and improve the time it takes to get your products to market. There’s no need for multiple pieces of software.

3. Forecast Future Trends

Real-time management tools provide you with a wealth of data. You can use this information to predict future trends in your business and reduce some of the most common risks in manufacturing, such as less demand for products and threats to international operations [2]. Use real-time management tools to plan your future operations more carefully, too.
You can also improve predictive maintenance. Real-time management helps you identify problems with smart industry solutions — broken or malfunctioning equipment, for example — so you can make quick fixes.
If you haven’t incorporated real-time data collection into your business, now’s a good a time as any. Swapping manual methods for data digitization tools will help you optimize your inventory, enhance production tracking and forecast future trends in your organization.

Sources:
[1] https://blog.capterra.com/inventory-management-statistics/
[2] https://www.qualitydigest.com/inside/quality-insider-article/top-risks-manufacturing-industry.html#

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