THOUGHTS

5 Smart Manufacturing Opportunities that Manufacturers Must Grab

Dec 24, 2018

Manufacturing is and will continue to be a critical force in both advanced and developing economies. However, the global manufacturing sector has undergone a tumultuous decade. From large developing economies leaping into the first tier of manufacturing nations, a severe recession choking off demand, to manufacturing employment falling at an accelerated rate in advanced economies. The good news here is that the manufacturing industry is all ready to be re-imagined, reinvented, and reborn. Here are five incredibly potent opportunities in manufacturing that manufacturers have to pounce upon if they wish to stay competitive through smarter manufacturing:

Smart manufacturing opportunities in manufacturing

Manufacturing intelligence

Intelligence in the manufacturing industry must be carefully planned, implemented, managed, and invested in. This generally requires a completely new view and perspective regarding what is traditionally looked at as strictly a mechanical or procedural challenge. This includes advanced data collection from sensors and actuators, immediate knowledge of inventory, assets, production condition; and increased process, productivity, and cost granularity.

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Predictive analytics

Manufacturing intelligence must be used by companies in the manufacturing industry in such a way that it will predict the future so that decisions and actions are taken before problems emerge, before the occurrence of the risk, and before opportunities are wasted. This includes enabling predictive technologies, embedded analytics, and rapid response capabilities.

Quality management

Quality management is the way ahead for how players in the manufacturing industry can achieve nearly zero waste, zero incidents, and zero emissions. The new improvements in quality will develop from factors including information visibility, connectivity, and analytics.

Manufacturing network monitoring

The ability to see and act on your entire network enables companies in the manufacturing industry to predict problems, quickly deploy corrective actions (such as repairs), and keep the entire network humming. This results in improved operational decisions; enhanced remote visibility; and the lowest cost of production possible.

Visibility and visualization

Unless information helps businesses to understand and act, it becomes practically meaningless. It is necessary to have a holistic, dynamic view of the company’s operations in real-time, and visualize people, systems, assets, and inventories as they make their way through a complex supply chain. Manufacturers can see multiple factories in a single view, utilize advanced manufacturing dashboards; and optimize their capacity across the entire enterprise using new instrumentation, networks, and control rooms.

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