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Pushing manufacturing productivity to the max

McKinsey & Co means that while most companies do their best to optimize production processes using established rules of thumb or incomplete data, at the end of the month or reporting period, they often discover sizeable gaps between actual profits and what they had expected. Accordingly, that is because they typically lack precise-enough measures to understand the small, real-time variations in process flows and manufacturing steps that cumulatively erode returns at facilities such as mines, steel mills, or other manufacturing plants. The good news is that now, advanced analytics and lower-cost computing can give companies a powerful tool for managing profitability on an hourly basis…

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