Tag Archives: manufacturing technology
3 data challenges in manufacturing that need to be addressed because they “deliver accessible, trusted data to develop insights across our production lines”:
- Breaking down data silos
- Contextualizing and understanding data
- Creating a dynamic data model
“The responses to the 2020 IndustryWeek Technology Survey painted a clear picture – manufacturers last year truly accepted the importance of undergoing a digital transformation. To be clear, it’s not that manufacturers didn’t understand the need pre-pandemic, but the impetus to intensify the journey was noticeably absent. It’s not anymore”
“Digital technologies will be a critical component of every company’s supply chain moving forward. They help optimize operations and achieve cost-saving goals, while enabling better customer-responsiveness from suppliers all along the chain.
Executives in this space talk a lot about the “supply chain control tower”—a dashboard of data, key performance indicators and other metrics that help managers achieve real-time, end-to-end visibility of their supply chains.”
Today, most industrial companies are not in a position to make data-driven decisions and are quite unfamiliar with business experiments. They lack the required transparency into their processes and are challenged by insufficient data integrity. To address this, every industrial company needs to develop a data strategy—thinking about which data should be collected, stored, and analyzed to drive decisions going forward. It starts by answering the question: What data is needed to inform strategic decisions and to drive improvements every day?
Read more at Industry Week >
Technology is advancing faster than ever before and it is completely changing the manufacturing industry. To maintain continuous growth, today’s manufacturers are hyper-focused on three key mandates: Improve utilization rates of expensive fixed assets that are below optimal capacity, fill the current and increasing void of specialized labor, and protect operating profit. Advanced technologies are helping traditional manufacturers meet these goals by providing actionable insights into their business so they can make better decisions. Until recently, hardware components such as sensors were expensive and had unclear ROI. Data was siloed, and no solution to scale insight was available. With cutting-edge integrated technologies, manufacturers can enjoy a significant competitive advantage by leveraging insights that are unmatched by any ERP or legacy system.