Fineltec’s Advanced Data Platform
Analytics in the Electronics Manufacturing Industry
Fineltec, a strong player and trusted partner in electronics manufacturing industry, partnered with Ready Solutions to creating a solution that would maximize the potential of their operational data and enable further development of their operations. The technologies chosen were Microsoft Azure cloud and Power BI.
Recent years have seen heightened volatility in global supply chains, with the Electronics Manufacturing sector being also affected. As a result, price fluctuations are daily phenomena and delivery risks of electronic components can vary drastically between batches.
This unpredictability, combined with the obligation to buy large batches to ensure supply, hampers cost management, inventory, and visibility into both component and end-product cost trends. For a company like Fineltec, which manages tens of thousands of components across its product range, traditional management of the situation becomes very laborious and complicated.
With Ready Solutions, Fineltec embraced a cloud first approach using Microsoft Azure.
Their vision? To establish a platform that merges operational data across the source systems, enables required data transformations and can later on handle the computational workload for AI models.
The project goal? Achieve comprehensive, real-time insights into material costs and their consequent business effects at all product structure levels. Microsoft Power BI served as the primary visualization tool for easy access and instant, prioritized view of profitability risks and opportunities.
Project Execution & Outcomes:
Project was executed in a following a structured approach, utilizing Ready Industry Analytics solution model:
- Thorough definition and understanding of the business issue.
- Integration of the data platform with source systems.
- Data modelling and Data transformations
- Crafting analytics and visualizations using Power BI in an agile, collaborative manner with Fineltec business experts and Ready Solutions’ developers.
The outcome of this project has empowered Fineltec with unparalleled clarity into material costs across all product structures, negating the need for tedious manual work or spreadsheets. Fineltec can now answers in an instant to questions like
- What is the material cost trend of any end-product or component?
- Drill down into end-product product structure and find the sub-assemblies or component most impacting the profitability.
- Real time identification of components that could trigger profitability issues, allowing for swift intervention.
- Comparing component’s current market price and the price of the component in the stock
With these capabilities at their fingertips, Fineltec is not only future-ready but is also leading the curve in the Electronics Manufacturing domain and can easily keep expanding their analytics capabilities in other operational areas.