Plex Systems Annual Study Finds Only 24% of Manufacturers Globally Have Implemented a Smart Manufacturing Initiative

Plex Systems | May 08, 2020

  • Plex Systems announced the results of its fifth annual study, the State of Manufacturing Technology.

  • Smart manufacturing, also referred to as Industry 4.0, encompasses the convergence of physical and digital systems, leading to the rise of smart factories.

  • The changes have helped the company achieve double-digit growth, with plans to reach $100 million in revenues in the coming years.


Plex Systems announced the results of its fifth annual study, the State of Manufacturing Technology. The study, which was developed with the support of the research and analyst firm LNS Research, found that among global manufacturers only 24% have currently implemented a smart manufacturing initiative. Another 22% are in the pilot stages. Smart manufacturing, which is also referred to as Industry 4.0, encompasses the convergence of physical and digital systems, leading to the rise of smart factories.

Smart manufacturers have better control and visibility across their operations than their peers, allowing them to more quickly and accurately adjust to changing market conditions, including crises such as COVID-19.

- Jerry Foster, chief technology officer, Plex Systems


“While most companies surveyed do not identify as smart manufacturers today, what is encouraging is that we are seeing a growing appetite to adopt smart manufacturing practices. This appetite, combined with an increasingly reliable blueprint for success as demonstrated by industry leaders, indicates that the smart manufacturing movement will only increase from here.”

Read more: Accenture's Acquires Callisto Integration, Expands Capabilities to Help Clients Make Manufacturing Efficient

In addition to tracking the adoption of smart manufacturing practices, the survey also found that companies that have realized the benefits of smart manufacturing pilot programs achieve this success by:
• Clearly defining desired business outcomes.
• Identifying the processes, technology and training necessary to achieve business outcomes.
• Successfully implementing the technology and driving adoption to fully realize the expected value.

Our new research shows that companies successfully transforming into smart manufacturers are building on robust yet flexible business and operational systems. Without an integrated approach to manufacturing software that can deliver a single source of truth, manufacturers will likely find themselves losing the competitive battle for agility and making sub-optimal decisions in siloes.

- Matt Littlefield, president and principal analyst at LNS Research


For Sanders and Morley Candy, a fine chocolatier, investing in new hardware and software through new production lines, automating packaging processes, and adopting a cloud-based ERP system have given the company greater visibility and control over its operations. This has empowered sales, enabled faster product testing and development, and allowed the company to redeploy its staff to complete higher-value tasks throughout the organization. These changes have helped the company achieve double-digit growth, with plans to reach $100 million in revenues in the coming years.

The survey additionally found:

• Manufacturers believe future growth will rely on operational improvements, such as cost reductions (37%), increased capacity (24%), and new production initiatives (40%).

• In the next 12-18 months, manufacturers plan to fund new production technology (44%) followed by operational systems, such as industrial automation, Manufacturing Operations Management (MOM)/Manufacturing Execution System (MES), and Enterprise Manufacturing Intelligence (EMI) (34%). However, given the widespread impact of COVID-19 since this survey was conducted, we can expect that the pandemic could shift future investments toward supply chain planning technologies. According to a survey conducted by the National Association of Manufacturers from Feb. 28–March 9, 2020, 35.5% of its member companies were facing supply chain disruption.

• The three most-hyped technologies are 3D printing/additive manufacturing (28%), followed by machine learning tied with industrial-hardened devices (24%), and blockchain (23%). These findings indicates that while specific applications are seeing success, there is not yet a clear path to their application within manufacturing environment.


Read more: Top 10 ways to utilise AI in smart manufacturing

About Plex Systems:

Plex Systems, Inc. delivers the first smart manufacturing platform that empowers the world’s leading innovators to make awesome products. Plex gives process and discrete manufacturers the ability to connect, automate, track and analyze every aspect of their business-from the shop floor to the top floor-to drive business transformation. Built in the cloud, the Plex Smart Manufacturing Platform includes MES, ERP, supply chain management, Industrial IoT, and analytics to connect people, systems, machines, and supply chains, enabling them to lead with precision, efficiency and agility in an ever-changing market.

Spotlight

The Manufacturers will take responsibility for the equipment and ensure that you get the most out of it while they receive an annuity and additional business based on product and service quality. Total cost of ownership will soon take center stage as the key measure of success. Emerging technologies like the IoT can help product manufacturers build intelligent connected products with the ability to continually monitor their own condition and ensure that operational efficiency is above the threshold for optimum performance.

Spotlight

The Manufacturers will take responsibility for the equipment and ensure that you get the most out of it while they receive an annuity and additional business based on product and service quality. Total cost of ownership will soon take center stage as the key measure of success. Emerging technologies like the IoT can help product manufacturers build intelligent connected products with the ability to continually monitor their own condition and ensure that operational efficiency is above the threshold for optimum performance.

Related News

To meet increased demand for hand hygiene solutions, Essity instals two new Tork PeakServe production lines

prnewswire | November 16, 2020

Essity, a main worldwide cleanliness and wellbeing organization, has extended its assembling limit with regards to Tork PeakServe Continuous Hand Towels. The new lines, situated in Harrodsburg, KY, will help uphold an expanded interest for this honor winning hand towel framework in the midst of the COVID-19 pandemic. The Tork PeakServe® Continuous Hand Towel System was acquainted with North America in January 2018 and has changed the hand towel class. The ceaseless framework: Highlights Connected Towel Bundles: towels hook onto each other when stacked and remain associated with easily apportion each towel in turn without interruptionꟷensuring visitors just touch the towel they use, improving cleanliness. Serves Customers in Three Seconds: so visitors can move all through the bathroom rapidly, encouraging better social separating. Builds Dispenser Capacity: protected innovation packs each towel group by half, bringing about 2,100 towels for every gadget, diminishing the danger of towel runouts. Permits Staff to Focus on Pressing Cleaning Needs: high limit diminishes the requirement for continuous container checks and tops off, subsequently saving chance to zero in on cleaning and sterilizing. In April 2020, Tork presented extra distributor designs, Tork PeakServe® Mini and Tork PeakServe® Recessed Cabinet Adapters, which make it simpler for clients to retrofit all bathrooms and exploit utilizing a similar towel top off all through the whole office, paying little mind to existing formats. Paper hand towels not just assume a significant function in improving hand cleanliness, but at the same time are the favored hand drying decision among clients. As indicated by a Tork overview directed in April 2020, 68% of individuals incline toward hand towels over air dryers, and 70% concur or emphatically concur that they wish more offices offer paper hand towels as a choice to air dryers. "Amid the pandemic, we've seen how Tork PeakServe is helping businesses support handwashing, which is critical to preventing the spread of COVID-19," said Don Lewis, President of Professional Hygiene at Essity. "The introduction of these two production lines marks an important step in Essity's response to an increased demand for effective hygiene solutions and demonstrates our continued commitment to helping customers meet a new hygiene standard." Tork is devoted to sharing its worldwide cleanliness skill and conveying a wide scope of imaginative items and arrangements that help clients and wholesalers secure another cleanliness standard. About Essity Essity is a leading global hygiene and health company. We improve people's well-being through our products and services. Sales are conducted in approximately 150 countries under the leading global brands TENA and Tork, and other strong brands, such as JOBST, Leukoplast, Libero, Libresse, Lotus, Nosotras, Saba, Tempo, Vinda and Zewa. Essity has about 46,000 employees. Net sales in 2019 amounted to approximately $13.5 billion. The headquarters is located in Stockholm, Sweden, and Essity is listed on Nasdaq Stockholm. Essity breaks down barriers for improved well-being and contributes to a healthy, sustainable and circular society. About Tork The Tork brand offers professional hygiene products and services to customers worldwide ranging from restaurants and healthcare facilities to offices, schools and industries. Our products include dispensers, paper towels, toilet tissue, soap, napkins, wipers, but also software solutions for data-driven cleaning. Through expertise in hygiene, functional design and sustainability, Tork has become a market leader that supports customers to think ahead so they're always ready for business. Tork is a global brand of Essity, and a committed partner to customers in over 110 countries.

Read More

3D PRINTING

CORE Industrial Partners Acquires RE3DTECH to Form a New 3D Printing Platform

CORE Industrial | January 12, 2022

On January 11, CORE Industrial Partners LLC, a Chicago-based private equity firm, announced the acquisition of RE3DTECH, a leading provider of additive manufacturing services focusing on high-volume production components. RE3DTECH manufactures a broad range of products in-house, including 3D printing, finishing, quality control, and assembly. The company specializes in 3D printing production-grade items using multi-jet fusion and direct metal laser sintering technologies. The organization was founded in 2017 and is headquartered just outside of Chicago, Illinois. It services several end sectors, including aerospace and defense, consumer, technology, industrial, automotive, and medical. “Our investment in RE3DTECH represents an expansion of our thesis within the additive manufacturing sector to address the growing market for high-volume production needs. We believe CORE’s sector expertise and resources will prove highly impactful in accelerating the company’s growth, both organically and through complementary acquisitions. -John May, the Managing Partner of CORE Jim Teuber, President of RE3DTECH, said, RE3DTECH was founded with the mission to provide our customers with customized solutions utilizing the latest, state-of-the-art technologies. Our partnership with CORE will help unlock the resources necessary to continue investing in cutting-edge capabilities and further enhance our customer value proposition. “RE3DTECH’s strong growth since inception is the direct result of the company’s combination of talented employees, breadth of additive manufacturing technologies, design and engineering capabilities, and quick turnaround times to provide a differentiated experience to its customers. We look forward to building upon the company’s solid foundation to further expand its service offering and geographic reach.” -Matthew Puglisi, Partner of CORE

Read More

DIGITAL TRANSFORMATION

The Tesla Supercharger in Santa Monica will accept Dogecoin

Tesla | February 23, 2022

On February 19, Tesla CEO Elon Musk announced on Twitter that the company's supercharging station would take cryptocurrency Dogecoin as payment. "Of course, you can pay in Ðoge (sic), "said Musk in response to a tweet from Tesla Console creator Ryan Zohoury, who stated that the new Santa Monica Superchargers were nearly full minutes after opening. Following this, Dogecoin's price increased, trading at 11.1635, up 3.22 percent. This comes just days after Musk stated that Tesla Inc. products, like the "Cyberwhistle" and "Cyberquad for Kids," will be available using Dogecoin. Musk announced in December that Tesla would try to accept Dogecoin as payment for items. Tesla's CEO, a prominent proponent of Dogecoin on social media, has previously hinted at the move. In addition, multiple reports said that Tesla's website source code had a Dogecoin payment option in the last few days. In a recent interview, he also promoted Dogecoin over any other cryptocurrency. "The transaction value of Bitcoin is low, and the cost per transaction is high. At least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency, " -Elon MuskTesla CEO adding that even though Dogecoin was created as a silly joke, it is better suited for transactions. Musk was a big supporter of digital currencies at work, and he played a significant role in making Dogecoin popular. Meanwhile, Musk stated last year that Bitcoin mining has been shifting "toward renewable energy sources." "his business would almost certainly reintroduce cryptocurrency as a method of payment for its electric vehicles. Musk said that hydropower, geothermal, and nuclear energy are all excellent energy sources for Bitcoin mining. If mining uses 50% or more renewable energy, Tesla will accept Bitcoin again. Tesla stopped buying Bitcoin in May 2021 because it was worried about the fossil fuel used in mining. This led to a drop in the value of digital currency. In a tweet Thursday, he expressed concern over the "huge use" of coal and other carbon-intensive energy sources to generate the electricity required for cryptocurrency mining. In February of last year, Tesla said that it had bought $1.5 billion worth of Bitcoin and planned to accept it as payment. This caused both the company's stock and the Bitcoin value to rise.

Read More