Business intelligence is a process of accumulating extensive market information and analyzing it to make informed strategic decision. It can help if product planning, cost management and other business-related activities to give competitive edge in market.
Competitors watch is the process of closing watching business with same products. This includes research monitoring, product launches and many other activities.
Product cost management
Product costing is the process of calculating expenditure of the fixed and variable aspect of product to arrive at base price. Innovation at the different levels of product making lowers product cost.Lower the product cost higher is the competitive edge.
Process of evaluating utilization of available resources such as man machinery capital, infrastructure to achieve best possible goals. Resource optimization can also help to achieve lower product cost and increase margins.
Automation, internet of things (IoT) and computer programming
Automation is a process of designing a solution to control, monitor, optimize unit operations and other activities. It can contribute to enhance quality, risk eversion, cost reduction and so on.
Capacity utilization is a matrix to identify highest business outcome that can be achieve without any additional capital expenditure. New product and new process engineering innovation can be good investment alternative to new capital expenditure.
Process engineering is innovation assignment to identify, design or optimize process that can reduce cost, enhance quality and safety.
Material and machine sourcing
Material and machine sourcing is a process of identifying high quality technology preferable at a lower cost. Monitoring technological advancement and quick implementation give competitive edge over other players.
Contract manufacturing is a process of outsourcing in-house activities for the effective resource optimization and expanded market coverage. It can be also for raw material, components, packaging and so on.
Special packaging support
Packaging is a technology which protects the product during its lifecycle such as transportation, storage, sale, use and so on. Innovative packaging with differentiated appearance and ease of use brings higher customer attention and use.