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Prescriptive Production: Delivering on the Vision of Better, Faster and Leaner

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How a Leading German Bank and Accretive Joined Forces to Solve Complexity Challenges and Improve Production Performance

by Rudolf Schmandt and Nabil Abu el Ata

EXCERPT: “Within the current competitive business climate, companies with the most mature analytics practices will establish a defendable market advantage. When it becomes possible to quickly, cost-effectively and predictably execute against business strategy and plans, innovation can flourish and organizations can respond more agilely to changing market requirements.”

ABSTRACT: In the modern business era, executive leaders are increasingly called upon to discover new ways to operate better, faster and leaner. To meet high performance imperatives and ensure long-term success, businesses must continually optimize production to improve agility while maintaining the right balance between time, cost and quality. But the growing dynamics and complexity of business systems impedes progress towards these goals by disrupting production, diminishing returns and inflating costs.

This paper provides valuable insights into the strategic production practices and technological innovations jointly developed by a leading German bank and Accretive to meet the evolving production performance requirements of today’s complex and competitive business climate. It explains how these recent innovations can be used across industries to identify and quantify the dynamic factors that increasingly threaten production goals. Additionally, it presents the benefits of taking a proactive approach to production management—using advancements in analytics, automation and machine learning sciences made available through Accretive’s X-Act OBC Platform—to control production environments, which have become too complex and dynamic for businesses to instinctively manage.