Article | December 21, 2021
Consumer demand has shifted dramatically in recent years, and manufacturers are trying to adapt to this shift. To maintain high product quality, minimize costs, and optimize supply chains, manufacturing analyticshas become essential for manufacturers.
Manufacturing analyticsis the process of gathering and analyzing data from various systems, equipment, and IoT devices in real-time to get essential insights.
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
Manufacturing analyticscan assist in maintaining production quality, boost performance with high-profit returns, decrease costs, and optimize supply networks.
This article will outline manufacturing analyticsand present a list of possible application cases. It will also highlight the benefits of manufacturing analyticsfor any shop floor or factory.
Manufacturing analytics: An Overview
With manufacturing analytics, we can streamline and speed up the entire process. Data interchange and automation helps in speeding up the production process. Manufacturing analyticsuses predictive manufacturing, big data, Industrial IoT, network virtualization, and machine learningto produce better scalable production solutions.
Manufacturing analyticscollects and analyses data from many sources via sensors embedded in machinery to identify areas for improvement. Data is collected and presented in an easy-to-understand structure to illustrate where difficulties emerge throughout the process.
In short, manufacturing analyticscollects and analyses large volumes of data to reveal insights that might improve performance. Users can also obtain automated business reports to reply in real-time.
Why Manufacturing analytics is Vital for Leading Businesses
There are numerous benefits of manufacturing analyticsthat drive any company’s production and overall manufacturing business growth. The benefits of manufacturing analyticsfall into three distinct categories as below.
It reduces the overall cost: Analytics may save a significant amount of money if used more efficiently. Labor costs are also reduced due to automation and semi-autonomous machinery. Similarly, preventive and prescriptive maintenance programs may save money while enhancing productivity.
It boosts profits for businesses: Manufacturers can respond swiftly to changes in demand using real-time insights in production, inventory management, and demand and supply forecasting. For example, assume the data indicates that they are approaching their maximum capacity. In such instances, they can increase over time, increase capacity, modify procedures, or tweak other production areas to adapt and maintain delivery times.
Other unforeseen benefits: There are several advantages to the increased capabilities enabled by manufacturing analytics. These benefits include lower energy use, safer environmental practices, fewer compliance failures, and more customer satisfaction.
Five Real-world Applications of Manufacturing Analytics
A machine's analytics uses aggregate data from real-time detectors to anticipate when it needs to be replaced or functioning irregularly. This process helps predict machine failure or equipment defects.
Analytics can assist in determining a plant's capacity and how many products are produced by the unit in every production cycle, which is helpful in capacity planning. In addition, analytics may help determine the ideal number of units to create over time by considering capacity, sales predictions, and parallel schedules.
Predictive analytics solutions can automate maintenance requests and readings that shortens the procedure and reduce maintenance expenses.
Product development is an expensive process in manufacturing. As a result, businesses must invest in R&D to develop new product lines, improve existing models, and generate new value-added services.
Earlier, this approach was in place by repeated modeling to get the finest outcome. This approach can now be modeled to a large extent, with the help of data science and technologically superior analytics. Real-world circumstances can be replicated electronically using "digital twins" and other modeling approaches to anticipate performance and decrease R&D expenses.
Many factors that might help in the plan significant capital expenditures or brief breakdowns can be explained using historical data and a few high-impact variable strategies. For example, consider the seasonality of products like ice cream. As a result, historical market data and a few high-impact factors can help explain numerous variables and plan major capital expenditures or short-term shutdowns.
In addition to demand forecasting, predictive analytics incorporates advanced statistical techniques. With predictive analytics, a wide range of parameters, including customer buying behavior, raw material availability, and trade war implications, may be taken into consideration.
Warranty support may be a load for many manufacturers. Warranties are frequently based on a "one-size-fits-all" approach that is broader. This approach introduces uncertainty and unanticipated complications into the equation.
Products may be modified or updated to decrease failure and hence expense by using data science and obtaining information from active warranties in the field. It can also lead to better-informed iterations for new product lines to minimize field complaints.
Managing Supply Chain Risks
Data may be recorded from commodities in transit and sent straight from vendor equipment to the software platform, helping to enable end-to-end visibility in the supply chain.
Manufacturing analyticsallows organizations to manage their supply chains like a "control tower," directing resources to speed up or slow down. They may also order backup supplies and activate secondary suppliers when demand changes.
Businesses should adapt to changing times. Using analytics in manufacturinghas altered the business industry and spared it from possible hazards while boosting production lines. Industry 4.0's route has been carved. Manufacturing analyticsis the key to true Industry 4.0, and without it, the data produced by clever IoT devices is meaningless. The future is data-driven, and success will go to those who are ready to adopt it. The faster adoption, the sooner firms go ahead of the competition.
How can data analytics help manufacturers?
Data analytics tools can help manufacturers analyze machine conditions and efficiency in real-time. It enables manufacturers to do predictive maintenance, something they were previously unable to accomplish.
Why is data so crucial in manufacturing?
Data helps enhance manufacturing quality control. Manufacturers can better understand their company's performance and make changes by collecting data. Data-driven manufacturing helps management to track production and labor time, improve maintenance and quality, and reduce business and safety concerns.
What is Predictive Manufacturing?
Predictive manufacturing uses descriptive analytics and data visualization to offer a real-time perspective of asset health and dependability performance. In addition, it helps factories spot quality issues and takes remedial action quicker by eliminating the waste and the cost associated with it.
Article | June 16, 2023
Explore the current state of the production and manufacturing industries and discover how it achieves re-industrialization of the former industrial powerhouses counterbalancing the benefits.
Below is the guide to Industry 4.0 library, a curated collection of insightful and captivating reads designed to equip professionals with the knowledge and strategies needed to excel in today's rapidly evolving business landscape. This carefully selected list presents ten must-read books that delve into the fourth revolution of digitalization, exploring the transformative power of emerging technologies, automation, and data-driven decision-making. Whether you are a seasoned industry expert or a curious newcomer, these compelling titles offer invaluable insights into mastering efficiency, driving innovation, and staying ahead in the age of Industry 4.0 through practical scenarios and case studies. Prepare to embark on a journey of discovery and unlock the secrets to thriving in the digital revolution.
1. Industry 4.0 The Industrial Internet of Things
Author: Alasdair Gilchrist
Industry 4.0 The Industrial Internet of Things delves into the current production, processing, and manufacturing status and examines the requirements for re-industrializing former industrial powerhouses. Titled 'Industry 4.0: The Industrial Internet of Things' is the book that focuses on Industry 4.0, a concept encompassing emerging trends and technologies that can revolutionize the current manufacturing and production processes. It explores the potential of advanced technologies such as the internet of things, big data, cyber-physical systems, and smart factory systems to replace the traditional labor-intensive approaches prevalent in offshore locations. Key topics covered in the book include Identifying the technological advancements for enabling Industry 4.0 and exploring the ongoing efforts, applying insights from real-world case studies to practical scenarios. Being one of industrial revolution books, this book caters to a broad audience, including business futurists, business strategists, CEOs, CTOs, and individuals and anyone interested in understanding the future development of IT.
2. The Fourth Industrial Revolution
Author: Klaus Schwab
The author, an economist,the Founder and Executive Chairman of the World Economic Forum, asserts that we are on the cusp of the fourth industrial revolution, a transformative era with profound implications for our lives and work. The presence of artificial intelligence, manifesting in supercomputers, drones, and virtual assistants, along with 3D printing, DNA sequencing, and minuscule microchips, are only the early stages of the revolution. Imagining ‘smart factories’ where global manufacturing systems are virtually coordinated or implantable mobile phones made from bioengineered materials provide a glimpse into the future. Schwab outlines the technologies driving this revolution and discusses the significant impacts expected on businesses, civil societies and individuals. He further presents innovative ideas on leveraging these changes to create a better future where technology empowers people instead of replacing them, progress benefits society rather than disrupts it, and innovators uphold moral and ethical boundaries.
3. Artificial Intelligence and Industry 4.0
Author: Jyotir Moy Chatterjee
The book Artificial Intelligence and Industry 4.0 book examines the recent advancements in blockchain technology and artificial intelligence and their significant contributions to realizing Industry 4.0 objectives. It delves into the applications of AI in various industries, particularly the Internet of Things and Industrial Internet of Things technologies. The chapters cover a wide range of topics, including machine learning, smart cities, healthcare, and Society 5.0, exploring the numerous potential applications of AI in the context of Industry 4.0. This book is a resource for computer science researchers and graduate students involved in developing and studying AI and the IIoT. The key features of the book include exploring the application of AI in the industrial manufacturing sectors and presenting examples of ML, computer vision, and digital twin applications in the IoT industry. It further explains examining the facilitation of processing of large datasets, accurate risk forecasting, and the generation of recommended actions through deep learning and cognitive computing tools.
4. Handbook of Industry 4.0 and SMART Systems
Author: Diego Galar Pascual, Pasquale Daponte, Uday Kumar
One of the books on Industry 4.0 is the Handbook of Industry 4.0 and SMART Systems explores the concept of Industry 4.0, which represents the fourth generation of industrial activity marked by the integration of smart systems and internet-based solutions. It delves into the various technologies and methodologies that have contributed to this revolution, highlighting the importance of instrumented, interconnected, and intelligent assets. The chapters provide insights into the advancements and implementation of Industry 4.0, with a specific focus on the role of smart systems in maintenance to enhance performance, productivity, and flexibility. Additionally, the book explores the applicability of Industry 4.0 in sectors such as transportation, energy, and infrastructure, examining the impacts on technology, organizational structures, and operational aspects from a systems perspective.
5. Industry 4.0 Developments Towards the Fourth Industrial Revolution
Author: Kaushik Kumar, Divya Zindani, J. Paulo Davim
The book on Industry 4.0 Developments Towards the Fourth Industrial Revolution offers a comprehensive introduction to the emerging field of Industry 4.0, which is poised to revolutionize manufacturing by combining flexibility, enhanced communication, increased productivity, and improved product quality. It provides a management holistic overview of risk, intelligent manufacturing, product development, covering process planning, assessment, education and qualification needs, socio-technical considerations, and sustainable business models. Engineers, entrepreneurs, academics, and students engaged in the information technology and manufacturing fields will find this volume valuable as it addresses various aspects of Industry 4.0 and its implications for the industry's future.
6. Introduction to Industrial Internet of Things and Industry 4.0
Author: Sudip Misra, Chandana Roy, Anandarup Mukherjee
One of the Industry 4.0 book, this book is designed to cater to the growing interest in Industrial IoT and Industry 4.0 among students, researchers, and professionals in various engineering disciplines. It serves as a textbook and a reference guide, covering the essential aspects of IIoT, including sensors, actuators, data transmission, and data acquisition, fundamental to its functioning. Moving beyond the basics, the book delves into advanced topics, such as the business models and reference architecture of IIoT, predictive and prescriptive analytics in IIoT implementations, the technological aspects of Industry 4.0 and IIoT, real-world applications and case studies, and the key enabling technologies of IIoT. To enhance the learning experience, the book includes conceptual exercises, questions, and learning objectives, making it a valuable resource for students and professionals seeking to master the concepts and applications of IIoT and Industry 4.0.
7. Navigating Industry 4.0
Author: Parasnis, Ashutosh
One of the industrial revolution books, Navigating Industry 4.0, provides manufacturers with a clear understanding of Industry 4.0 and a systematic approach to its implementation. Readers can optimize resource allocation by focusing on relevance and avoiding non-value-added activities. The book guides them in developing digitalized business strategies and builds the necessary execution capabilities. Additionally, it enables manufacturers to visualize and design their tailored strategies and roadmaps, eliminating waste of time and money. The author, an experienced keynote speaker, electronics engineer, and MBA specializing in marketing, and strategic management, activates critical thinking and brings clarity to benefit your businesses. With over 30 years of industry expertise, his insights and guidance have assisted enterprises, SMEs, and start-ups on their transformative journeys. Engage with this book to unlock your potential in the era of Industry 4.0.
8. New - Age Technology And Industrial Revolution 4.0
Author: Narendra Jadhav
This comprehensive book delves into the emerging new-age technology that underpins the ongoing industrial revolution 4.0. It explores its profound impact on the economy, society, and public policy within a global context. In Part One, readers are introduced to the foundational elements of this technology, including AI and ML, big data analytics, robotics, blockchain, automated technology, additive manufacturing, internet of things, and augmented reality. Part Two delves into the potential implications of the new-age technology on various aspects such as economic growth, employment, the evolving landscape of banking-finance 4.0 and so on. Part Three expands upon the global public policy dimensions associated with this technology. It addresses critical issues such as the Right to Privacy, the impact of social media on democratic governance among others. This section also covers regulatory considerations and strategic developments related to the new-age technology.
9. Profiting from Industry 4.0: The road to future value in manufacturing
Author: Marcos Kauffman
The era of the fourth industrial revolution, or Industry 4.0, holds tremendous potential for performance transformation and the creation of new markets, both for established players and disruptive ventures. However, the key challenge lies in adapting to the new digital rules and capturing value through enhanced performance. This book, authored by an expert and practitioner in the field of Industry 4.0, provides invaluable tools, templates, and guidelines for manufacturers on the frontline. Drawing from a comprehensive analysis of current manufacturing contracts, it highlights essential questions for manufacturers to consider. It explores various options for managing innovation, designing business models, handling intellectual property, and ultimately gaining a sustainable competitive advantage. It offers a roadmap for navigating the complexities of Industry 4.0, empowering manufacturers to adapt, innovate, and secure their position in the evolving digital landscape.
10. Industrial Digital Transformation
Author: Shyam Varan Nath, Ann Dunkin, Mahesh Chowdhary, Nital Patel
Industrial Digital Transformation: Accelerate Digital Transformation with business optimization, AI, and Industry 4.0 the book provides insights into digital transformation and its significance in today's business landscape. Divided into two parts; the first explores the concept and importance of digital transformation, while the second part focuses on its practical implementation. Advanced topics, such as overcoming challenges and exploring the concepts of Digital Thread and Digital Twin, are covered further. The book offers a range of case studies from both private and public sectors, highlighting successful transformation strategies and resident experience improvement on a global scale. Furthermore, readers will discover how to create a practical playbook for successful digital transformation, leveraging cloud computing, big data, and the Internet of Things. The book is a valuable resource for IT leaders, digital strategy leaders, solution architects, and service and management consulting firms’ professionals.
These captivating books discussed in the article provide valuable insights and guidance for manufacturing experts in the digitalization sector. These resources cover various aspects of industrial IOT, big data, robotics, smart systems, among others. By delving into these industry 4.0 books, professionals can gain a deeper understanding of effective implementation of digitalization into productions across their infrastructure. With the ever-evolving digital landscape, staying up-to-date with the latest trends and best practices is crucial. These books offer industry-relevant knowledge and empower experts to make informed decisions and gain expertise in the relevant industries.
Article | January 20, 2022
COVID drove many supply chain disruptions in 2021. This was particularly true for companies using Asia to source product. Sadly, the bottleneck continues in 2022, but there are new channels now available to serve the North American material handling market. System integrators, dealers, and distributors in the space cannot work with vendors who offer slow delivery timetables. Customers want shelving, racking, conveyors, and robotics no later than Q3 2022.
MODEX 2022 provides answers to solve the supply chain disruption
MODEX 2022 (March 28-31, 2022) in Atlanta, will once again bring many global manufacturers to the event. Nearly 800 exhibitors and 40,000 attendees will respect COVID health and safety protocols while learning about much needed solutions from a variety of global manufacturers. For the first time there is an African company exhibiting at MODEX: LinkMisr International.
Article | February 14, 2022
B2B e-commerce for manufacturers is seeing resurgence in the manufacturing business. Today's manufacturers are moving away from old business models and heading towards digital ones.
“E-commerce isn’t the cherry on the cake, it’s the new cake”
- Jean Paul Ago CEO L’Oreal
The Manufacturing & E-commerce Benchmark Report says,
98% of manufacturers have, or plan to have, an e-commerce strategy.
42% of manufacturers who are engaged in e-commerce and digitalization said it has improved customer relationships.
The statistics above shed light on the manufacturing industry's development. We must acknowledge that our physical factory is transitioning into an e-commerce factory. B2B businesses are taking advantage of the convenience of browsing online product catalogs without having to go to the site.
Why Is E-commerce for Industrial Products Important?
Consumer behavior is driving transformation in the manufacturing space, particularly with the shift to digital channels. Manufacturers who still handle consumers solely by phone, fax, or email run the risk of losing their loyal consumer group. This is because, in recent years, their worlds and preferences have grown increasingly digital.
In the Manufacturing & E-commerce Benchmark Report, manufacturers claimed that internet sales accounted for over half of their total income. So, manufacturers have come a long way since their earlier days. According to Digital Commerce 360, 80% still relied on their internal sales force to boost revenue. But we all know that manufacturers can do more to meet B2B customer needs.
Today's B2B clients expect self-service options in addition to transactional websites. These buyers want reliable information from your web business, whether it is inventory levels, product specifications, order history, or their personal negotiated discounts. It should be available anytime and wherever customers desire.
“You can’t wait for customers to come to you. You have to figure out where they are, go there and bring them back to your store”
- Paul Graham, Y COMBINATOR
The key reasons for the demand for e-commerce for industrial products are
75% of B2B goods are purchased online.
1 in 3 buyers pick a vendor on the basis of its online ordering, payment, tracking, and return capabilities.
B2B Manufacturing E-commerce Benefits
A B2B e-commerce platform helps manufacturers across sectors to increase productivity, reduce costs, and simplify procedures. A web-based manufacturing e-commerce catalog significantly reduces the cost of printing product catalogs. It automates time-consuming operations such as catalog relevance maintenance, data cross-checking, and human data entry. It can connect with ERP, CRM, PIM, and other systems, thus streamlining a lot of back-end operations.
Manufacturers have to cope with enormous orders and diverse customers. Fortunately, many B2B e-commerce platforms allow for customized pricing lists and RFQ procedures. Personalized and smooth ordering is possible with configurable back-office operations. It eliminates mistakes and saves time by processing orders quickly.
Online consumer data helps manufacturers grow their businesses. An e-commerce platform gathers data about purchases, sales, refunds, shipping, and more. This data helps to forecast trends and optimize inventory and delivery. This information can help product developers make their products better, sales reps find customers, and marketing teams find customers.
Unlock Revenue Sources
While some businesses were already in the process of shifting online, the pandemic has accelerated the digitization process and showed that shifting online is the only option to counteract declining physical revenues. An internet store brings new customers to traditional businesses. A solid SEO strategy and a mobile-friendly shop may help them establish a large client base and sell more to them.
A well-designed manufacturing e-commerce site will automate back-office tasks and allow users to self-serve their orders. Automation relieves salesmen and increases operational hours. As a result, manufacturers may sell 24/7 and personnel can explore other revenue-generating options.
Gain Brand Awareness
E-commerce is a great marketing tool for manufacturers. They can help with search engine visibility, especially as B2B customers increasingly use Google to study firms. This could help people who make and sell things, as well as distributors and retailers who work with them.
Expand to New Markets
Vertical, market, and geographic expansion become simple with the proper e-commerce solution. Flexible solutions let businesses grow into new areas and respond to opportunities faster. Aside from B2B sales, several manufacturers choose B2B2C sales or direct-to-consumer sales (D2C). As manufacturers diversify their companies, these tendencies gain traction.
Manufacturing e-commerce is more than just online shopping and selling. It's not simply about interacting with clients on the Internet. “E-commerce is a business tool that may help your company profit from bigger digital transformation and business evolution projects. Having a successful and expansive manufacturing business requires the design of an interactive and customer-centric B2B e-commerce platform. So, if you haven't considered converting your physical goods factory to an e-commerce factory yet, now is the moment.
Why is web server bandwidth vital for e-commerce sites?
Web server bandwidth is also significant because the more bandwidth available, the more simultaneous visitors your site can handle. Most ISPs and web hosts must supply adequate bandwidth to handle peak demand.
What policies must e-commerce sites have before going live?
How is e-commerce useful for manufacturers?
E-commerce allows manufacturers to test new products without risking a large investment. Instead of opening physical storefronts or stocking inventory, you may start selling the new product online.