In today’s competitive and technology driven world, Manufacturing Industry is striving towards smart productivity gains, increasing financial growth along with delivering high quality products.
The dynamic manufacturing industry is gearing up to transit from Industry 3.0: the Internet Revolution to Industry 4.0: The Cyber Physical Revolution. Most manufacturing environments fit into one of the five categories-
- Job Shop
- Process (batch) and
- Process (continuous)
Digitalization has the potential to impact each touch point in these processes along the value chain by streamlining workflows, enhancing efficiencies, and providing planners and managers with greater insight into their value chains. Manufacturing industry has aligned itself with ‘Data-Driven Manufacturing’,and we need to first understand how the manufacturing industry itself interprets the term ‘Data-Driven Manufacturing’?
If ‘Data’ is leveraged correctly it can;
- Reduce overhead manufacturing costs
- Optimize research and development efforts
- Help in building customer-centric models
- Enhance internal functionality driving productivity and digital literacy of the organization.
In many manufacturing organizations, even today operational data, field data, customer feedback data and enterprise data are in silos. This data is either physically present or on disparate systems that are unable to talk to each other. Some major challenges for the manufacturing sector are;
- Finding ways of embedding analytics throughout their enterprise and fuel profitable growth with the insights.
- Using Real-Time data to reduce bottlenecks or breakdowns in terms of materials, manpower and resources.
- Automation of software processes from productivity and profitability view