Data analytics is a powerful tool for manufacturers, which involves applying mathematical techniques to extract valuable insights from data. This can help to improve systems, understand trends, and increase efficiency across various industries.
Manufacturing encompasses a diverse and wide array of processes, industries, and raw materials. Yet all manufacturers everywhere share a common enemy: Unplanned Downtime, which harms productivity, asset health, brand reputation & dotted line.
Manufacturers have long dealt with equipment failures. While they may be inevitable, equipment failures should not cause serious downtime, eat into profits or make manufacturers overspend their budgets.
Addressing lost productivity is particularly critical in today's climate. Despite technological advancements and economic growth, manufacturing productivity has declined since 2010, likely for the first period in American history.
Manufactures that are able to focus in with laser precision on developing and maintaining a robust continuous improvement process will keep their competitive edge.
For those in high volume, low margin industries such as food and beverage or automotive parts manufacturing, preventative maintenance may be wrongly seen as unattainable, due to perceived high upfront costs.
Asset Performance Management software must evolve into knowledge hubs that not only deal with monitoring, but also gathering data from other dependent systems to provide much deeper insights and greater control.
New technologies and processes must have a demonstrable impact on a company's bottom line to make a convincing argument for adoption. In that spirit, here are seven recent manufacturing process improvements and how they affect profits.
The need to incorporate advanced maintenance programs increases as companies target safe and efficient manufacturing environments. But does a sophisticated maintenance program provide assurances that it will be foolproof?
When advanced manufacturing technology handles diagnostic work, you can free up technicians' time to focus on undertakings with a greater impact on the business at large.
AI in Manufacturing will help companies achieve higher productivity and cost effectiveness over a period. One of the major applications where AI is deployed in the manufacturing plants is Asset maintenance.
Preventative maintenance is a comprehensive and facility wide program that ensures that you're protecting your investment dollars and supporting the bottom line of your facility, including ensuring the health and well-being of all associates working on the production line.
AI-guided selling enables analytics to move from descriptive to predictive and prescriptive analytics. The process uses customer and sales data for a scientific, data-driven approach to understand buyer processes and behaviors.
Sometimes the most difficult thing about AI is simply knowing where to start. Identifying potentially impactful use cases is one of the most cited roadblocks for organizations seeking to leverage AI in their business.
By continually monitoring the condition of your equipment's most critical mechanical and electrical components, failures can be avoided with predictive maintenance carried out during scheduled downtimes, resulting in continual operations.
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