2 min read
How Formula 1 technology is shaking up manufacturing sector
Take our analytics skills and industry expertise, then add advanced Formula 1 technology. That’s the thinking behind SupplyCycle and it’s shaking up the manufacturing sector.
Completed in 2018 and developed together with McLaren Applied Technologies, SupplyCycle uses simulation and modelling techniques developed in the ultra-competitive world of motorsport.
SupplyCycle analyses clients’ data to create a digital model of their factories and warehouses, making it possible to test millions of scenarios to work out how best to balance high-volume production processes, stock holdings and changeovers – switching from making one item to another – to meet demand and achieve optimum service levels.
“We’re using big data analytics to solve repeated problems that traditionally have been solved as a one off and where the output can’t be quickly updated and maintained,” said Jamie McCall, general manager for SupplyCycle at Deloitte. The solution helps stabilise and optimise supply chains, offering advantages in a world where consumer expectations are rising, business operations are complex and competitors disrupt the market.
For consumer goods manufacturers with large brand portfolios, achieving the right balance across their whole range can be difficult. SupplyCycle models scenarios for all products at once and determines the right production frequency for each one.
So far, results suggest it could cut manufacturers’ changeover times by up to 20 per cent and reduce inventories by up to 30 per cent, freeing up storage space.
One of the world’s largest spirits companies, became one of the first to use the solution to better manage its inventory and changeovers. It also wanted to make complicated production processes more efficient.
“With customer service levels up, excess stock holdings down, and adherence to production schedules up, they are seeing the benefits of using SupplyCycle”, continued Jamie.
Our relationship with McLaren Applied Technologies is helping companies to make sense of their data. And, just like on the racetrack, it’s all about high performance and fine margins.
Jamie explained, “McLaren’s Formula 1 grade technology and thinking means we are constantly looking to go one step further and see what improvement can be achieved.”
Ultimately, that means giving manufacturers greater control over their business operations – great news not only for our clients, but their customers too.
To find out more visit www.deloitte.co.uk/mclaren