Why shift towards ‘Smart Manufacturing’?
Manufacturing in today’s world, is going through an evolution by adopting new age techniques and methods that is often classified under the term “SMART”. The world is becoming a competitive marketplace for smart technologies which gives business owners the power to drive decisions with the right & accurate data. Shifting towards ‘Smart Manufacturing & A Smart Factory’ is enabling manufacturers to improve the efficiency of their business, enhance productivity & quality of their output.
Tapping into the Opportunity of ‘A Smart Factory’ & Evolving towards ‘Smart Manufacturing’
According to a recent report by Digital Transformation Institute of Capgemini, smart factories will contribute to almost $ 500 Billion in the next 5 years. Why? Because, Smart Factories can produce more while containing the production costs which directly impacts the bottom line of organizations. In fact, manufacturers expect that some industries can nearly double their operating profit and margin with smart technologies. Smart Factories can increase the output in terms of quantity, offer superior products in terms of quality and have a consistent approach to the business itself.
Automated Data: Gone are those days where manufacturers had to manually collect their production data and tabulate their production efficiency. A Smart world today, not only automates the entire data collection process but also presents data using latest Business Intelligence Tools which enables managers to make informed decisions. Data can be accessed from anywhere across the globe on any device by manufacturers which gives them the power to monitor the entire production cycle at any given point of time.
Predictive & Preventive Maintenance: With the ability to visualize production and monitor assets all the time, manufacturers can predict and resolve maintenance issues before they lead to unplanned downtime or present product-quality issues. For example, sensors built into machines can send critical alerts in real time, that enables manufacturers to identify problems efficiently and fix the problems effectively.
Reduce Operating Costs: With a connected factory where all the systems are interlinked, manufacturers can intelligently visualize their production forecast, have better insights into the supply-chain segment, plan inventory levels and schedule deliveries based on the demand cycle. This information allows manufacturers to reduce costs related to surplus inventory or unplanned production volume.
Lesser Workflow Challenges: A Smart Factory allocates laborers with safe jobs wherein the high-risk jobs get automated. This way, laborers are not at any factory related risks. Also, having access to real-time data across multiple platforms frees workers to focus on their core responsibilities allowing manufacturers to innovate faster without investing in additional resources.
Enhanced Productivity: Smart, connected systems give complete insight into machine data and productivity levels which throw light into bottlenecks, machine health, machine performance and their operational efficiency. With this data, manufacturers can plan their production, schedule machine maintenance, make adjustments to increase yields, improve quality, and reduce waste.
Euro Gulf Machine Tools and Automation is a leading Smart Solution Provider to manufacturing industries offering IIoT, Industry 4.0 and Smart Factory Solutions.
