Manufacturing

Manufacturing

The manufacturing sector, like every other industry, faces its own set of obstacles. Although not all problems may be simply addressed, a significant percentage of them can be overcome with proper application of technology whenever possible.

Technology intervention in the sector is not new. The introduction of the conveyor belt altered how the assembly line would function, smoothly! Similarly, timers, counters, forklifts, robotic arms, and so on have aided in the creation of process-based industries (such as the manufacturing sector).

Major Challenges of manufacturing industry

Forecasting Demand for Products

Inventory and project management

Improving Efficiency at Manufacturing Plants

Skilled Labor Shortage

Scaling up the business

Sales Lead management

Selling direct to customer

Maintenance and overheads

Increased Sales and revenue

Automation in manufacturing

The digital age has seemingly brought along many opportunities that businesses can leverage to make good of their investments. However, the industry still has to contend with many known as well as newer challenges – some technology-related while others are not so technical.​
Ecology

• Switching off unused objects
• Use of green solution
• Renewable energy

Competitiveness

• Low manufacturing costs
• Use of innovative solutions
• Flexible response to fluctuations of demand

Flexibility

• Personalized products
• Efficient production
• Large variability in production control

Safety

• Software prevents defects
• Sensors protecting worker safety
• Immediate reaction

Productivity

• Solution to eliminate errors and wastages
• Produce more products
• Shortened cycle times

Profitability

• Advantages of mass production
• Optimized processes
• Low stock inventories and production efficiencies

Manufacturers can revolutionize their work using Industry 4.0 as it contains ample benefits. The major goal of Industry 4.0 is to make manufacturing and related industries more efficient, faster, and more customer-centric besides going beyond optimization and automation and identify new business opportunities and models.

Key benefits of implementing Industry 4.0 in manufacturing industry are:

Reduced Process Flaws

Reduced Cost of Production & Packaging (by almost half)

Massive Savings in Inventory & Management Costs

Regulatory Compliance

Usage of IoT in manufacturing

Information-powered ecosystems of value

Maximised productivity through automation and optimization

Improved working conditions and sustainability

Real-time data for a real-time supply chain in a real-time economy

Personalization and customization for the ‘new’ consumer

Higher business continuity through advanced maintenance and monitoring possibilities

The development of innovative capabilities and new revenue models

Better quality products: Real-time monitoring, IoT-enabled quality improvement, and Cobots

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