"Data! Data! Data! I can't make bricks without clay."
— Sherlock Holmes, in Arthur Conan Doyle's The Adventure of the Copper Beeches
It's a very exciting time at Minitab's offices around the world because we've just announced the availability of Minitab® 18 Statistical Software.
Have you ever had a probability plot that looks like this?
In the first instalment of this blog series, we discussed the escalation of the sugary drink tax and its effects on beverage manufacturers worldwide. To combat these fees, without passing the full expense on to consumers which would inhibit sales, manufacturers must look for opportunities to make sustainable adjustments to their operations that exponentially reduce costs and optimize yield. When applied across the enterprise, these changes can also transform businesses and help manufacturers outpace their competition.
The demands on manufacturers in the current marketplace are complex. Success hinges on manufacturing processes that are highly optimized to ensure the greatest efficiency and a quick response as well as promote standardization across all products, lines, and facilities.
In recent years, beverage manufacturers have faced a variety of mounting obstacles – from the anti-sugar movement to elevated and changing consumer demands. We discussed how the sugary drink tax could nearly cripple some beverage operations. But, if they act now, manufacturers can make operational adjustments that will result in sustainable cost savings and counter the financial impact of both the tax and shifting consumer preferences.