With the staffing shortages prompted by the COVID-19 pandemic and the unexpected increase in demand, manufacturers are struggling to keep up with consumer demands. The manufacturing industry can get ahead of these challenges with real-world data. Manufacturers can maximize their operations and ensure that they are keeping up with demand with location intelligence.
Location intelligence gives manufacturers the ability to adjust their strategy based on foot traffic patterns. This way, they are never caught off guard or surprised by surges in demand and can get up-to-date market insights. Here are three reasons why manufacturers should use location intelligence to solve supply chain challenges.
Detecting Irregularities in the Supply Chain
Due to COVID-19, supply chains in many industries have been significantly impacted. Because of this, manufacturers need to determine irregularities and variances in the supply chain. These irregularities may look like increases or decreases in foot traffic at the warehouse.
For example, a manufacturing warehouse isn’t getting as much traffic from its raw material suppliers as it used to. This could indicate that there may be an issue with obtaining raw materials, or that there isn’t enough demand for the final product. This tells the manufacturer that it may need to find a different supplier.
Solve Staffing Challenges
Location intelligence can provide manufacturers with information to adjust their staffing strategy. Because location intelligence provides manufacturers with near real-time insights, it helps them staff according to demand.
For example, an appliance manufacturer has hired extra staff to keep up with increasing demand, but with foot traffic to the appliance retailer slowing down, the manufacturer would know to limit production and in turn, adjust staff hours. The manufacturer saves money and time by adapting its staffing and production strategies based on real-world data.
Predict Product Demand
Fluctuations in consumer demand is one of the biggest challenges for manufacturers. One way to get ahead of this is to predict future demand with data. With location intelligence, manufacturers can see emerging trends right away. This gives the manufacturer the ability to ramp up production for a specific product when they need to.
Insights from consumer foot traffic data can give manufacturers an understanding of demand in their particular trade area. If a manufacturer caters to an appliance company that serves a specific part of town, the manufacturer would be able to see how much foot traffic the appliance store is getting and make sure that their assembly line is up to par. In addition to this, they could delegate production according to the consumer demand for a specific product or a specific store that they are working with.
Location Intelligence for Manufacturers
We turn location data into location intelligence for manufacturers. By understanding where people go and why they go there, you can find the answers you need to optimize your manufacturing strategy to meet supply chain challenges in a post-COVID world. If your business specializes in manufacturing, and you want to learn more about location intelligence, contact us to speak with an expert today.