How Manufacturing Industry Uses Cloud Technology: Three Case Studies

Bhagyashri Kambale | February 22, 2022
HOW MANUFACTURING INDUSTRY USES CLOUD
The integration of cutting-edge technologies into the manufacturing industry has transformed the whole economy and accelerated the pace of all operations. Cloud computing for manufacturing is a type of technology that enables businesses to gain visibility, scalability, mobility, security, and improved collaboration, among other benefits. Seeing the benefits, many small and large players in the manufacturing business have embraced cloud computing.

“Cloud computing is not only the future of computing, but the present and the entire past of computing.”

– Larry Ellison, co-founder, executive chairman, CTO, and former CEO of Oracle Corporation.

According to IDC research, the manufacturing industry is the biggest player in cloud computing solutions, with an estimated spending of $19 billion. Additionally, Market Research Future projects that the cloud manufacturing market will reach a value of USD 121.72 billion by 2026. As a result, we may predict that manufacturing cloud computing has a long way to go in the industry. 

In this article, we will look at some of the key cloud manufacturing applications and case studies of three US-based manufacturing businesses that used manufacturing cloud software ERP.

Applications for Manufacturing Cloud Computing


Effective Marketing

Cloud technology's comprehensive nature makes it an ideal solution for the challenges of marketing campaigns. Manufacturers leverage cloud-based applications to help them plan, execute, and manage marketing initiatives. Manufacturers can also look at production and sales data to see how well their campaign is working.

Product Planning and Development

Product planning and development are closely linked in manufacturing. Manufacturers can get their businesses ready for full production by integrating product planning and development information with supply chain data and communications. Comprehensive integration enables products to move a lot faster from notion to engineering, from prototype to small-scale production, and eventually to full-scale production and shipping.

Production and Stock Tracking

Once production begins, cloud technology may assist in the manufacturing and stock management of products. Businesses can use enterprise resource planning (ERP) software to match production levels to available inventory and sales. Pricing quotations, order intake, and client requests can all be managed using the ERP software. Using a standard product to keep an eye on these things reduces the time it takes to get an order.

Productivity Management

Manufacturers rarely maintain the same level of production throughout the year for all products. They can use cloud-based tools to keep track of when to modify production to meet changing market demands. These software solutions ensure that manufacturers have the necessary raw materials on hand by making communication easier across the supply chain. This helps them easily adjust their orders to accommodate future productivity levels.

Three Case Studies of Cloud Computing in Manufacturing


Ralco Industries Leveraged Cloud to Cut Its Inventory by 15%

Ralco Industries is a producer and supplier of automotive components that specializes in precision-welded assembly and prototypes. To overcome the challenges of their business growth, the industrialists moved to manufacturing software cloud ERP and saved some money in the process. There was a lot of inefficiency, quality issues, excessive expediting prices, and wasted time due to inaccurate inventory and many unconnected systems in the past. Moving to a single integrated cloud ERP software system helped Ralco cut inventory on hand by 15%, scrap by more than 60%. It helped Ralco save money on premium freight by more than 20% and save almost $100 on each purchase order that was processed.

Avon Gear Improved Inventory Accuracy and Grew by 20% Yearly

Avon Gear Company, a maker of precision-machined components and subassemblies for heavy industrial equipment, was looking for an ERP system that would integrate data across the organization. The company chose a cloud-based manufacturing ERP to manage and record production activity, inventory status changes, receiving, shipping, and other plant-floor data. Consequently, Avon Gear's inventory accuracy has increased, and the company's growth rate has gone up by an average of 20% each year.

Wolverine Improved First-pass Quality by 15-20% Using Cloud

An automobile brake system technology firm, Wolverine Advanced Materials, found that its manual methods were not sustainable, especially when it came to supporting fast development. To grow and embrace lean manufacturing, the firm chose cloud ERP, which enabled it to properly assess cost and profitability by part. Using manufacturing cloud software, ERP, the company's factory floor workers can see all client orders and conveniently categorize them by material so that they can better manage their schedules. This has resulted in increased production and cost savings for Wolverine. Also, overtime was cut by 60%, while first-pass quality increased by 15% to 20%.


Final Word

For manufacturers, cloud computing is a game changer. Manufacturing companies must deal with a lot of different sites and supply chains, which requires the use of large, complex database applications.

The Cloud computing for manufacturing is expediting industrial operations and overall business decisions in the manufacturing industry. Cloud computing enables industrial organizations to improve visibility across large fleets of facilities. It also contributes to standardization by synchronizing and supplying data for new forms of analytics. Supply chain management becomes more effective and product development gets easier with cloud computing. So, instead of debating whether to use cloud computing, take action and use cloud computing in your business.

FAQ


What is cloud computing in manufacturing industry?

Cloud computing refers to the on-demand provision of IT resources over the internet. Instead of buying, running, and maintaining physical data centers and servers, you can use a cloud service. This approach would help you get computing power, storage, and databases when you need them, rather than buying and running your own.

How does cloud computing help the manufacturing industry?

Cloud-based solutions are more rapidly deployed than traditional systems, which enables firms to stay current with new innovations. Also, they are easier to change and grow, and they have the potential to make resellers more likely to use them.

Why cloud computing vital to modern manufacturing?

Cloud computing impacts all aspects of manufacturing. It enables manufacturers to see and control all manufacturing data and take informed production decisions. This is the reason why it is vital to modern manufacturing.

Spotlight

Guhring, Inc.

Guhring is a world-class manufacturer of round shank cutting tools for the metalworking industry; also a provider of top-quality coating, reconditioning and tool management services. More than a century of expertise in cutting tool manufacturing, combined with powerful R&D resources, place Guhring at the forefront of technical innovations in cutting tools.

OTHER ARTICLES

Manufacturing in 2022 - Five Emerging Trends in the Industry

Article | October 8, 2021

The trends in the manufacturing industry for 2022 are expanding and altering the industry's conventional face. The future of manufacturing is going to merge with digitalization and technological applications. As a result, all operation methods, products, and manufacturing outcomes will be modernized with new technology applications. To brighten the future of manufacturing, manufacturing companies must examine new trends in the industry before developing their manufacturing plans for 2022. Technological advancements are the next game-changer in the manufacturing business. Adeaca's Vice President of Market Innovation and Project Business Evangelist had recently quoted in an interview with Media7 as, “As technology takes over and enhances many of the processes we used to handle with manual labor, we are freed up to use our minds creatively, which leads to bigger and better leaps in innovation and productivity.” – Matt Mong, VP Market Innovation and Project Business Evangelist at Adeaca The new trends in manufacturing are leveling up every part and element of the industry. In this article, we'll look at a new trend for each industry aspect that's assisting manufacturers in speeding up the production process, increasing ROI, and propelling their manufacturing business to new heights. Additionally, it will assist you in addressing current industry challenges such as forecasting product demand, addressing skilled manpower shortages, and increasing manufacturing plant efficiency. Five Manufacturing Industry Trends to Watch in 2022 Emerging trends in manufacturing provide a chance to review your production strategy for products and processes. Check out below the upcoming trends in manufacturing that are getting attention in the industry. Customer Engagement and Purchase Experience Creating an exceptional digital customer experience is a new trend in manufacturing. According to industry experts, mapping the customer journey and their interactions with your products is the first step towards establishing a positive connection with your potential consumers. A few of the most popular strategies to improve the consumer purchasing experience and engagement are as follows: Build a knowledge base for your products on your business website Create a comprehensive FAQs page that addresses all of the buyer's possible queries Create a chatbot to provide immediate help to the buyer with further inquiries Create a brand story and a comprehensive description of your manufacturing business If possible, provide product statistics and success stories, and content about consumer satisfaction with your product Create a product functionality video or explanatory picture material to familiarize the potential customer with your product These are some of the trends that engage your prospective buyers and increase their purchasing experience through a range of product-related information and educate them about you and your products. Smart Technology-enabled Products Smart is the new norm in every industry. The old operations and goods that were once a part of everyone's life have now been replaced by technology. Manufacturing is no exception to this alteration. Due to the increasing demand for smart products among customers, every company is now looking forward to inventing and manufacturing smart products. Explore and understand how you may incorporate cutting-edge technology (Artificial Intelligence, Machine Learning, Edge Computing, and Digital Twins, and more) into your products to help them stay updated with manufacturing trends. Virtual and Augmented Reality in Manufacturing (Industry 4.0) Transforming traditional manufacturing systems and processes into smart, tech-savvy ones is a new trend in manufacturing. The future of manufacturing is expected to witness this digitization in 2022 and beyond. Therefore, you must convert your conventional manufacturing plants into smart ones, i.e., as per the concept of Industry 4.0 – the fourth industrial revolution. Discover how prominent companies are implementing Industry 4.0 The following are some popular transformations that many popular manufacturing factories are adopting to become part of the industry revolution. To achieve a zero-carbon footprint, manufacturers may use analytics systems to determine the amount of trash they create and develop ways to eliminate it. (Implemented by Whirlpool) Utilize an analytics platform to decipher usage data for energy, water, and other utilities. (Implemented by Whirlpool) Utilize technology such as Siemens' Mindsphere, which enables online analysis of several aspects of a production plant and helps manufacturers create digital models using real-time data. (Implemented by Siemens) Utilize a combination of IoT and cloud-based technologies to avoid downtime and gather analytics data. (Implemented by Hirotec – a Japan based manufacturing company) Machine learning technology can be used to foretell and avoid system failures in your manufacturing plant. (Implemented by Hirotec – a Japan based manufacturing company) Utilize robotics and to accelerate manufacturing across many verticals. (Implemented by Ford) Utilize 3D printing to improve the precision of product design and to avert product defects during the early production stage. (Implemented by Aerospace: Airbus) These are some examples that other well-known manufacturing companies in the market, such as Hewlett-Packard, Ford, Whirlpool, and Siemens are currently using. So, consult an expert and determine how to leverage emerging technology to turn your production plant into a smart manufacturing unit. Internet of Things (IoT) to Boost Revenue Manufacturing companies have begun to leverage the Internet of Things to establish connectivity between machines and operational procedures throughout manufacturing. This linkage between machine and operation significantly decreases the human supervision required for each step and completely automates them. Manufacturers intend to incorporate these IoT trends in manufacturing into both their products and operational processes. IoT further enables manufacturers to operate and monitor their work remotely. As a result, they can concentrate on developing new strategies and preparing for future ventures. Shifting Focus from B2B to B2C Model Several manufacturers skip intermediaries and connect directly with their consumers to sell efficiently to their target consumer group. This purposeful approach has multiple benefits, which are outlined below. Manufacturers may skip the lengthy retail sales cycle and achieve a shorter time to market The absence of a third party between the manufacturer and the customer reduces the risk of brand misinterpretation or dilution Direct interaction with customers enables manufacturers to obtain more accurate consumer data, product feedback, and requirements for new product development Manufacturers can control the price of their products due to the absence of a third party between them and the target consumer group These benefits of the B2C model attract manufacturers and encourage them to develop added production techniques with these benefits in mind. Final Words Technology, innovation, and digitization are the future of manufacturing. The IoT trends in manufacturing are essential for industrial production and will allow the manufacturing industry to obtain a new competitive edge. Hence, manufacturers must keep in mind this industry revolution (industry 4.0 and 5.0) while developing strategies for their manufacturing operations in 2022. FAQs What are the benefits of adopting the Internet of Things in manufacturing? IoT devices can monitor industrial operations, manufacturing cycles, and other warehouse data management processes automatically. This benefit decreases the amount of time spent monitoring individual operations and increases production speed. What role will smart manufacturing play in the future? According to a grand view research analysis, the smart manufacturing market was worth USD 236.12 billion in 2020 and is expected to extend at a 12.4 percent compound annual growth rate to reach USD 589.98 billion by 2028. What are the critical components of the smart factory of the future? Robotics, the Internet of Things, big data, and cloud-based administration will be critical components of the future smart factory.

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How to Overcome the Additive Manufacturing Challenges in Aerospace

Article | December 6, 2021

Aerospace manufacturing and design are getting advanced with additive manufacturing. However, the limitations of traditional manufacturing techniques sometimes make it incompetent to produce technologically oriented products. Additive Manufacturing (AM)helps the aircraft system run more efficiently by creating lightweight aircraft parts. This is one of the reasons that additive manufacturing is gaining traction in aerospace and other industries. According to recent analysis and data, the global additive manufacturing market is expected to grow from USD 9.52 billion in 2020 to USD 27.91 billion in 2028. The expanding technologies and materials used in additive manufacturing will indeed stimulate industry growth shortly. It’s important to note that there isn’t one channel that is the silver bullet. Most of the time, a combination of different channels will help drive a more powerful outcome.” – Wendy Lee, Director of Marketing at Blue Prism However, the aerospace industry encounters some challenges with additive manufacturing, which is the focus of this article. Scalability, multi-material capabilities, professional workers, high-cost materials, and quality compliance norms are all constraints that aerospace professionals are dealing with. Here we will discuss the top three challenges of additive manufacturing in aerospace and their solutions. Future of Additive Manufacturing in the Aerospace Industry Even though additive manufacturing has been around for a while, it has only lately become advanced enough to be used in the aerospace sector. In the aerospace business, additive manufacturing has the potential to deliver significant benefits. Cost savings, design freedom, weight reduction, shorter time to market, fewer waste materials, better efficiency, and on-demand production are just some of the benefits. Although additive manufacturing cannot make every part, it provides an exciting opportunity to explore feasible alternatives, either supplementing or replacing traditional manufacturing processes. However, it must be taken into account early in the development phase. Additionally, knowledge must be embedded in aircraft design teams to ensure the successful use of additive manufacturing. However, in recent years, AM has become more prevalent in end-to-end manufacturing. According to Deloitte University Press, the future of AM in aerospace may include: Directly embedding additively produced electronics Wings printing 3D printing engine parts Making battlefield repair components Top 3 Additive Manufacturing Challenges in the Aerospace Industry and Solutions While problems are inherent in any new technology, experts overcome them by identifying solutions. Let's look at the top three challenges that the aerospace industry is currently facing and the solutions to overcome them. Lack of Qualified Experts Using 3D printers in production and automating work processes are skills that are lacking. However, the obstacles are natural, and the skilled manufacturing workforce is aging and reluctant to adapt to new design models. This is creating the skills gaps surrounding manipulating AM technology. How to Overcome Less time spent educating employees is better for business. For example, the US National Additive Manufacturing Institute and the European ADMIRE initiative offer accelerated courses via remote learning websites. Of course, you'll need to provide numerous additive manufacturing opportunities to attract the key technologists, either on-site or off-site. They will oversee new hires' activities and help them translate their knowledge of 3D printing into designs and final items. Over Budget Material The typical cost of AM equipment is $300,000. Industrial consumables cost between $100 and $150 per item (although the final price is formed after choosing the material; plastic, for example, is the most budget-friendly option). How to Overcome To overcome this obstacle, you must plan a long-term implementation strategy based on the manufacturing-as-a-service model. On-demand manufacturing reduces manufacturing costs and speeds up product development. You can also go with cheap 3D printers that use cheap welding wire that hasjust come onto the market. They cost $1,200 and may suit your needs. Fresh Quality Compliance Guidelines As 3D printing and CNC manufacturing technologies constantly evolve, there are no established norms or regulations for 3D printed objects. However, 3D printed solutions do not always match traditional quality, durability, and strength. For example, a 3D-printed mechanical part. Can someone order 500 similar parts a few months later? Consistency standards and product post-processing may have a negative impact in such circumstances. So, in such a case, traditional manufacturing wins over 3D printing. How to Overcome You might endeavor to set quality criteria for your 3D-printed products to ensure they are comparable to traditional ones. You can also apply the ANSI AMSC and America Makes standards, which define quality criteria for 3D printed products. How Boeing Applies Additive Manufacturing Technology? Boeing is focusing its efforts on leveraging and speeding up additive manufacturing to transform its manufacturing system and support its growth. The company operates 20 additive manufacturing facilities worldwide and collaborates with vendors to supply 3D-printed components for its commercial, space, and defense platforms. Boeing is now designing missiles, helicopters, and airplanes using 3D printing technology. A small internal team contributes roughly 1,000 3D-printed components to the company's flight projects. Boeing claims that addressing design as an "integrated mechanical system" considerably improves manufacturability and lowers costs. Final Words Additive manufacturing is altering the way the aerospace industry designs and manufactures aircraft parts. Aerospace advanced manufacturing is making aircraft production easier. We've explored solutions to some of the snags that you may encounter. However, other concerns, such as limited multi-material capabilities and size constraints, require solutions, and industry specialists are working on them. Despite these challenges, additive manufacturing is still booming and rocking in a variety of industries. FAQ Why is additive manufacturing used in Aerospace? It allows the industry to build quality parts quickly and inexpensively. Reduce waste and build parts for aircraft that are difficult to manufacture using existing methods. How does additive manufacturing help in Aerospace applications? Environmental control system (ECS) ducting, custom cosmetic aircraft interior components, rocket engine components, combustor liners, composite tooling, oil and fuel tanks, and UAV components are examples of typical applications. 3D printing helps in producing solid, complicated pieces with ease. Which aerospace firms use additive manufacturing/3D printing? Boeing and Airbus are two of the many aircraft businesses that use additive-created parts in their planes. Boeing incorporates additive manufacturing (AM) components into both commercial and military aircraft. Airbus also employs AM metal braces and bleed pipes on the A320neo and A350 XWB aircraft. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "Why is additive manufacturing used in Aerospace?", "acceptedAnswer": { "@type": "Answer", "text": "It allows the industry to build quality parts quickly and inexpensively. Reduce waste and build parts for aircraft that are difficult to manufacture using existing methods." } },{ "@type": "Question", "name": "How does additive manufacturing help in Aerospace applications?", "acceptedAnswer": { "@type": "Answer", "text": "Environmental control system (ECS) ducting, custom cosmetic aircraft interior components, rocket engine components, combustor liners, composite tooling, oil and fuel tanks, and UAV components are examples of typical applications. 3D printing helps in producing solid, complicated pieces with ease." } },{ "@type": "Question", "name": "Which aerospace firms use additive manufacturing/3D printing?", "acceptedAnswer": { "@type": "Answer", "text": "Boeing and Airbus are two of the many aircraft businesses that use additive-created parts in their planes. Boeing incorporates additive manufacturing (AM) components into both commercial and military aircraft. Airbus also employs AM metal braces and bleed pipes on the A320neo and A350 XWB aircraft." } }] }

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Lead Generation for Manufacturers: 5 Effective Techniques That Work

Article | January 4, 2022

Lead generation for manufacturers has always been tough due to a lack of knowledge about new technology and trends that can help them generate more business leads. There are still a lot of small and mid-sized manufacturing companies that rely on antiquated manufacturer lead generation methods. In this article, we'll discuss some proven methods for generating leads that can help you increase your company's sales and improve your overall return on investment. "Don’t think of your lead as "LEADS." Instead, think of them as people who are frustrated because understanding and buying your product is too hard. Your job is to make it easy for them to learn about your product and get started. " —Andy Pitre, VP of Product, HubSpot So let's get started. Factors That Must Be Aligned to Drive New Business Leads Landing Pages Landing pages are mini-websites embedded into your site. To deliver an experience that speaks directly to the user's intent, marketers use landing pages. Create unique landing pages for every industrial lead generation campaign. Calls-To-Action To generate quality leads, you need to have a strong call to action (CTA). CTAs are usually buttons that allow users to submit information, visit a landing page, or download an e-book or white paper. Your CTA must be compelling. Give your prospects a reason to click and remove any barriers to the click. CTAs should be bold, high-contrast, and easily identifiable. Forms Without forms, it is impossible to collect leads. Therefore, visitors will be asked to fill out forms that collect their contact information in exchange for an offer. Offers Every lead contains a transaction. A company provides a valuable service in exchange for a prospect's contact information. You won't get many leads unless you provide value to your potential customers. This offer comes in the form of an e-book, consultation, coupon code, or whitepaper. To generate more leads, make compelling offers. Website The above components can't exist if you don't have a website. If you want to emphasize your business, you need to generate quality leads. Why? Because most of today's B2B buyers are millennials, who are highly tech-savvy and increasingly conduct their supplier research online. How to Generate Manufacturing Leads: 5 Effective Techniques Create a Website That Converts "The lead generation process starts by finding out where our target market ‘lives’ on the web." – Wayne Davis Your website should be a trusted source of quality leads. Unfortunately, many companies lose sight of this and develop websites that are cumbersome and difficult to browse, causing a rift between you and your potential customers. Don't expect people to behave if your site doesn't encourage them to act. Your website should have clear "call to action" buttons and lead capture options that allow visitors to contact you in a simple and pleasant way. Additionally, there are website optimization tools available, including PageSpeed Insights, Hotjar, Google Optimize, and WAVE. All of the above-mentioned website optimization tools provide complimentary services. So, this is the most accessible and most reliable approach to generating web leads. Make Descriptive Infographics Infographics are a great way to provide prospects with helpful information while motivating them to contact you. Most importantly, infographics establish your company as a thought leader and unconsciously identify you with industry authority. According to recent surveys, Nearly 41% of respondents indicated that infographics and illustrations are the most effective solutions for achieving their business objectives. On social media, infographics receive three times the number of shares as other types of content. Articles that included infographics received 72% more views than standard articles. A great infographic has a great design. If your organization lacks an in-house graphics team, you can simply locate a freelance designer to create a stunning infographic for you. Your infographics are ageless pieces of material that can be reused for smart marketing and lead generation manufacturing. Here's an example of an infographic from Digital Marketing Philippines from 2019 that received over 1,600 shares and is jam-packed with data and text. In this way, you can see how the company may have gotten its leads from these 1600 shares, each of which is a potential customer. Host an Event According to Bizzabo, 86% of senior management (Senior Managers, Executives, and Board Members) believe that in-person events are critical to the success of their company. The majority of B2B marketers (97%) believe in-person events have a significant impact on achieving business goals. According to Marketing Charts, 68% of B2B marketers agree that in-person events aid in lead generation for manufacturers, while case studies help with lead conversion and acceleration. Improve manufacturing lead generation through events that can occur both online and offline. Organize any kind of event to attract your target market while collecting contact information. Use live events to interact with consumers in real-time, answering questions, addressing objections, learning about your audience, and guiding prospects through the sales funnel. Consider webinars, workshops, seminars, meetups, and conferences. Create a Value-Packed Newsletter "Content is the fuel for your lead generation efforts." – Dayna Rothman According to the Content Marketing Institute, 31% of B2B marketers believe email newsletters are the most effective way to nurture leads. 81% of B2B marketers report that email newsletters are their most frequently used form of content marketing. Create a must-read newsletter that invites interested prospects to engage and remain connected with your company. This enables you to stay top-of-mind with consumers and promote your products and services to move prospects along the sales funnel. The newsletter can have new blog entries, product or service updates, special deals, upcoming events, and recommended reading from other thought leaders. Incorporate SEO into Your Marketing Plan According to Intergrowth, 61% of B2B marketers say SEO and organic traffic generate more leads than any other type of marketing. Search engine leads convert at a rate of 14.6%, while outbound leads (cold calling, direct mail, etc.) convert at a rate of 1.7%. Manufacturers are no exception when it comes to the importance of search engine optimization (SEO). As a result, you may generate many leads with the correct marketing approach and a profound grasp of SEO for manufacturers. Final Words When we consider the statistics explained earlier in this article, we can see the benefits of all of the techniques mentioned and how they can help you increase your lead generation and, as a result, your overall business ROI. Thus, we can refer to the above-mentioned lead generation techniques as sales-driven strategies that will assist you at every lead generation and conversion stage. Improved lead generation for manufacturers enables businesses to reach a vast customer base and generate more high-quality leads. FAQ What is a high-quality lead in manufacturing? Leads of high quality have an increased propensity to convert into paying consumers. The more qualified your leads are, the more likely they will buy your product or service. What are the lead generation challenges? Making accurate data, shaping conversations, and converting qualified leads into sales are some of the significant challenges in manufacturing lead generation.

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Manufacturing Data Analytics: The Next Big Thing

Article | March 22, 2022

Manufacturing analytics, or real-time manufacturing analytics, is the process of collecting, cleansing, and analyzing data from machines to forecast their future use, prevent failures, forecast maintenance requirements, and identify areas for improvement. “The goal is to turn the data into information and information into insight.” - Carly Fiorina, ex CEO of Hewlett-Packard Manufacturing data incorporates all structured and unstructured information collected manually or through software from machines and humans throughout the manufacturing process, up to the point at which a product is launched to the market. In this article, we will look at the use cases of data analysis in manufacturing and some of the start-ups from the U.S. that are helping manufacturers gather their real-time manufacturing analytics. Data Analysis in Manufacturing: Use Case Analytics Demand Forecasting Forecasting demand is highly dependent on historical data on supply levels, material costs, purchase trends, and customer behavior. Manufacturers can use analytics to accomplish the following: Define the products to be manufactured in a time frame Define products that are no longer in stock Determine the quantity of products to be manufactured Forecast sales prospects Inventory Management Forecasting demand enables manufacturers to manage inventory, purchase materials, and optimize storage capacity based on data. Additionally, manufacturing industry data analysis provides insight into: The sales-to-inventory ratio indicates the average inventory value over net sales. Days in inventory refers to the time a manufacturer retains before selling a product. Gross margin return on inventory (GMROI) is a term that refers to the amount of gross margin a manufacturer receives for each dollar invested in inventory. Maintenance Optimization Data collected from various manufacturing machines, tools, and devices, as well as information about operations and the gears required for the machines, can be analyzed to: Predict when a machine will require maintenance based on the amount of time and the operations in which it has been used. Identify and resolve operational anomalies caused by or will result in machine failure. Prevent downtime by scheduling machine breakdowns, repairs, and replacements in advance. Price Optimization Utilizing analytics can assist manufacturers in determining the actual cost of a product based on the costs of materials, labor, machines, and tools used or purchased during the manufacturing process. Additionally, manufacturers can optimize prices based on data about competitors, market trends, consumer behavior, and purchase history. Additionally, analytics can assist in setting dynamic prices that are determined by demand, supply, competition, and subsidiary product prices. Analytics for Manufacturing as a Service: Three U.S.-based Startups Uptake Uptake offers predictive analytics solutions powered by artificial intelligence for various industries. It provides a compass, which allows organizations to optimize work orders and scout. This allows users to analyze data and custom alerts and radar to get failure and anomaly detection solutions. Failure prediction, noise filtering, situational analytics, and detecting changes in operational behavior are just a few of the features that these systems offer to their customers today. The product, by Uptake, is intended for use in various industries like mining, construction, fleet management, manufacturing, aviation, government, and oil and gas. Seeq Seeq is a leading provider of industrial data analytics solutions. Its big data analysis solutions help in the analysis and comprehension of industrial process data (IPD) more effectively and quickly than typical alternatives. Reduced analysis time, quicker relationship discovery, ERP and other system connectivity, support for business intelligence (BI) tools such as Excel, Tableau, SAS, and MATLAB, and collaboration support are some of the features. Sight Machine Sight Machine provides a platform for manufacturing applications that utilize digital twins. It provides solutions for continually analyzing images captured by industrial cameras, sensor data, and data from manufacturing systems to improve product quality and operations. It provides real-time visibility and actionable data for every part, machine, line, and plant manufacturing process. Its clientele includes Nike, Sony, Nissan, and Google, to name a few. Final Word Big data analytics in manufacturing assists businesses in identifying the parameters that have a direct effect on production. Additionally, modifying the target process helped businesses increase productivity by 50%. McKinsey estimates that when analytics are used in design-to-value workflows and projects, manufacturers' gross margins can increase by as much as 40%. Manufacturing analytics can help with design-to-value, supply chain management, and after-sales support. Real-time manufacturing analytics enables manufacturers to optimize their overall production. FAQ Why is data critical in manufacturing? Big data helps manufacturers understand their customers' needs and wants better. To launch a new product or upgrade an old one, data is required to make it appealing to customers and assess the risks of competition. What is production analysis? Production analysis visualizes production output and helps assess production losses and associated costs. What is predictive manufacturing? Predictive manufacturing uses descriptive analytics and data visualization to provide a real-time perspective of asset health and reliability performance.

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Spotlight

Guhring, Inc.

Guhring is a world-class manufacturer of round shank cutting tools for the metalworking industry; also a provider of top-quality coating, reconditioning and tool management services. More than a century of expertise in cutting tool manufacturing, combined with powerful R&D resources, place Guhring at the forefront of technical innovations in cutting tools.

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