Running a manufacturing business is challenging. Producing the right product, in the right quantities, at the right time, with good quality, at a price the customer is willing to pay is not as easy as it sounds. In fact, maintaining efficient operations in today’s manufacturing environment is as complex as the information that flows through it. If a business is running in silos, visibility is limited, and as a result, you have a 50/50 chance when decisions are made due to the of lack real-time data.
Real-time visibility into operations is imperative for success. Without it, your business is vulnerable to making unnecessary purchases, stock outs, plant and production inefficiencies, and so on. The reality is, meeting demands requires the ability to make quick decisions based on accurate data. The truth is, a large percentage of businesses in the manufacturing industry, run data once in the morning and once at night, or rely on a combination of disparate systems to execute ERP processes, or both.
As a result, the data being used can end up leading to bad business decisions being made. As a business grows, it inevitably reaches a point where its current information technology infrastructure can no longer handle the scope of operations. Whether you make cheese or juice, furniture or circuit boards, your product is unique. You may have one small location or be a part of a worldwide enterprise, but the requirements of a manufacturing business transcend size.
Industry 4.0 refers to the next phase in the digitization of the manufacturing industry, driven by four disruptions: data, computational power, connectivity, and analytics. Or put simply, it is a confluence of trends and technologies that promise to reshape the way things are made. Industry 4.0 has to power to transform data into meaningful information. The Internet of Things will change manufacturing, as we know it. With IoT, devices and embedded computing sensors will be communicating, and delivering real-time responses.
Big Data (capture more data from sensors) and Analytics (stronger analysis):
- Connection (sensors, devices, machines, and networks)
- Cloud (computing and data on demand)
- Cyber (model and memory)
- Content and Context (meaning and correlation)
- Community (collaboration)
- Customization (personalization and value)
For More Information: Download our White Paper
Discover the Trends Shaping the Future of Manufacturing TODAY