3. Industry 4.0 is here. It is all about the fourth industrial revolution which
is all set to transform the manufacturing process using advanced
capabilities and IT solutions for manufacturing such as smart sensors
and actuators. As a result, manufacturers are gaining benefits from
increased visibility into operations, cost minimization, quicker
production times, and provide excellent customer support.
The only way manufacturers can take a leap ahead of competitors
and win market share and embrace the latest in growth-driven
Industry 4.0 technologies. Right from Enterprise Mobility Solutions to
emerging technologies, digital transformation is critical to building and
executing growth strategies for manufacturing.
4. However, several factors need to be taken into account. Equally
important is to understand how IT solutions for the manufacturing
industry will impact the company’s financial performance and drive the
company toward high performance.
5. Manufacturers can strategically use the Internet of Things (IoT), which
forms an intricate ecosystem of connected devices within an existing
infrastructure. IoT can achieve goals such as cost control, enhanced
efficiency, increased workers’ safety, and product innovation.
IoT’s existence is primarily due to available Internet access, smaller
sensors, and cloud computing. Innovation is steering business growth
and technology is allowing manufacturers to rapidly evolve with an
increasingly digital-first business landscape.
IoT is the Next Big Thing
6. Intelligent and smart assets that can depict, sense, communicate,
and store information about themselves.
Public and/or private data communications infrastructure.
Analytics and applications that generate actionable business
information from data and people.
IoT is a network of intelligent devices to monitor, gather, exchange, and
analyze data. Each industrial IoT ecosystem consists of:
IoT and predictive analytics play a major impact on the entire
manufacturing process, offering several ways to connect operations
and transform business processes. IoT is transforming every
touchpoint into a sensor for data collection and providing real-time
insights for manufacturers.
7. According to a McKinsey report, nearly “1.8 billion people will enter the
global consuming class over the next 15 years and worldwide
consumption will nearly double to $64 trillion.” In such a scenario data
analytics provides manufacturers an opportunity to predict, innovate,
and implement. Businesses can use advanced analytics to gain insights
into historical process data, identify patterns among processes, and
optimize factors to design optimum processes.
The biggest bottleneck is integrating data from multiple sources and
drawing valuable insights. However, the evolution in cloud services and
solutions is allowing companies to collect data from varied sources
making big data usable.
Manufacturers can utilize a comprehensive understanding of their
business. This allows to enhance production, optimize operations,
and address issues even problems arise.
Big Data is Helping Manufacturers Achieve More
8. Emerging technologies providing highly immersive experiences such
as augmented reality (AR) and virtual reality (VR) will continue to
create beneficial partnerships to impact manufacturers. VR can allow
seamless integration with computer-aided designs which allows
product developers to use VR and make changes to products during
the product design stage before getting into modeling and
manufacturing processes.
Smartglasses help ensure that all parts are assembled correctly
eliminating the need for consulting. AR and VR can reduce inspection
time and assist in detecting errors in addition to improving workers’
sightline, which enables them to complete tasks faster.
AR technology can be used with cameras and sensors for training.
Workers can be shown how to perform a task and correct errors,
which makes it possible to quickly and effectively train unskilled
workers for high-value work.
VR and AR to Create Win-Win Situations
9. Blockchain implementations can streamline operations and provide
greater visibility into the supply chain. With features such as
transparency, openness, security, and traceability, it comes down to
tracking assets with accuracy.
Blockchain has completely revamped the designing, engineering,
and scaling of products. By improving supplier order accuracy, and
product quality, manufacturers can meet delivery dates, as well as
improve product quality and sales.
Blockchain’s Potential will Change Manufacturing
10. Many manufacturing supply chains will continue to evolve into
intelligent networks with real-time information, legacy systems
modernization and integration as well as maintaining delivery
accuracy and quality parameters. With Artificial Intelligence and
business analytics, manufacturers are looking for effortless syncing of
on-premise legacy, third-party, and cloud-based applications into a
single unified platform that integrates with suppliers and enables
greater speed and scale.
Artificial Intelligence
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Transformation in the Manufacturing
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