Another Industrial Revolution is upon us, and the manufacturing industry is sitting up and taking note. Industry NeXT is here to bring the next wave of advanced tech that drives innovations, efficiency, and higher production value. Want to know more about the different benefits and elements of this phase of technological evolution? Give this a read!
Benefits of Industry NeXT to the manufacturers
Manufacturers are increasingly turning to accelerated adoption of Industry 4.0 because it assures them of the following benefits:
Better data storage and documentation –
Thanks to the complete digitization of information, a huge majority of data is now stored in the cloud. It comes with the usual benefits of cloud storage, such as addressing the prospects of data loss, a unified data collection mechanism, and easier data access. Manufacturers are now using this data not only for future planning, but also for training purposes.
The cost-effectiveness factor –
The use of high-end operational technologies related to predictive maintenance and machine monitoring can help manufacturers to increase throughput, decrease downtime, and reduce the cost of delivering parts and materials.
Making operations more agile –
For a manufacturer to stay ahead of the competition, faster reaction times during demand fluctuations, skills gap, product issues, and the likes, are important aspects. When leveraged the right way, technology can help manufacturers find solutions faster in times of crisis.
Democratization of data –
For the longest time, siloed data has affected the manufacturing industry. It has caused miscommunication between departments, along with disorganization among various levels. When an organization is connected through easy access to disparate data, decision-making gets simpler. Thus, the production process can move faster.
Better customer retention –
In themanufacturing industry, like all other industry verticals, the customer wields the power. And they set high expectations regarding product and service quality. Now, meeting such demands would mean improvement in all areas of product development, customization, after-sales services, and customer support. Technological adoption is the key to bring such a major improvement.
Technological advancements driving Industry NeXT
With factors like sustainability, cost savings, and customer satisfaction in the forefront, Industry NeXT is being driven by the following technological advancements:
Simply stated, digital thread is the network of communication that establishes connection between different siloed elements in the manufacturing process. Thus, it delivers an integrated perspective of an asset through its manufacturing cycle. It is one of the ways to deal with the siloed data issues in the industry, as mentioned before.
Digital twin or replica is the virtual representation of a real-world manufacturing component. Think of this as an advanced computer model that derives inputs from the real world to minimize errors and downtimes.
Augmented reality (AR) lets manufacturers access automated data and manual processes at the same time. Through 5G and AR technology, the exact actions that led to greater efficiency or major defects can both be identified.
The issues that have traditionally plagued the manufacturing sector, be it data storage and usage or dealing with demand fluctuations, can be better managed with this set of new tech innovations. Here’s to greater efficiency and sustainable production!