Smart manufacturing is now a household name in this sector. What does smart manufacturing entail? The new age of automation and information technology seems to be bringing about a fundamental shift in the manufacturing industry. A change of approach, methods and technologies is expected to increase the profitability and safety of businesses of all sizes.
Specialists explain that smart manufacturing is a pathway to growth. Specialists say that those who do not invest in smart manufacturing and robotics will miss out on the many benefits of technology. Here are some of the most important manufacturing trends fo, which will make it more profitable and productive for businesses to adopt them.
The Internet of Things is gaining in importance. Both private users as well as businesses seem to be leveraging more of its applications and interconnectivity . IoT is a way for businesses to improve their safety and efficiency while also lowering their costs. Internet infrastructure is complex and allows for interconnection of various devices and tools. It is possible to profit for manufacturing companies and make use of it to their advantage. Specialists also identify other benefits, such as higher compliance capabilities and greater product innovation potential.
A majority of companies surveyed in a recent study believe that IoT will increase their profitability over the next few years. More than 60% of the companies interviewed claimed that they will invest more than $250 million in IoT and its applications by next year. Interconnectivity and IoT help manufacturing decision-makers make better decisions and analyze data and information in real-time. This improves the speed with which critical decisions can be made as well as the success rate of new strategies that are implemented by businesses within the sector. To devices can be used to improve manufacturing workflows. According to this study , companies without such tools will adopt them in the coming months.
2. Predictive Maintenance
Manufacturing companies are dependent on their tools and equipment. Unexpected breakdowns could slow down or even stop production. Companies can lose a lot of revenue due to the costs of repairs, downtime , and productivity loss. These are all factors that can impact the company’s expenses in the event of a breakdown. To prevent these events, manufacturers must ensure that their equipment is in top condition. Predictive maintenance, a piece innovative technology, will assist businesses in this sector.
According to this McKinsey and Company research , companies can reduce their maintenance costs by 20% by embracing predictive maintenance technologies. Manufacturers can prevent malfunctions and breakdowns by automating data collection and processing. They can quickly fix any functionality issues before they threaten the business’ profitability and productivity. These capabilities can help businesses save time, money, and avoid wasting resources.
3. Automate your Supply Chain
All companies in this sector strive to be competitive and relevant. They strive to produce better and more efficient products in a shorter time frame and at lower costs. While adjusting prices can be a great strategy to increase competitiveness, leveraging capabilities such as better supply-chain management technologies can help boost productivity and improve competitiveness. It is possible to run your manufacturing business more efficiently and reduce costs. This will increase customer satisfaction and retention. Companies will see better results by implementing technology-advanced supply chain management solutions.
- Procurement of raw material
- Optimization of manufacturing
- Logistics that is more efficient and more smooth.
- Capabilities for better product life management.
- Optimization of Inventory
- Network Optimization.
- Planning for sales and operations.
4. Collaborative Robotics
Co-bots are one the most useful applications of automation, bigdata, and IoT. They are reliable, cost-effective, and increase manufacturing control. Collaborative robots are available at all production levels, and in all departments. They improve worker accuracy and safety standards at work. Universal Robots states that collaborative bots are capable of performing a variety of tasks and key-applications, such as packaging, painting, polishing, etc. Automotive is the industry with the highest co-bot adoption rates. These intelligent robots aren’t just useful in the automotive industry. They can also be used to reduce costs and improve employee safety. These areas have high rates of collaboration robot use, including aerospace, wood processing, furniture manufacturing and agriculture.