Industry 4.0 and Digital Transformation in Manufacturing
Stellium Inc.
Driving Supply Chain Excellence leveraging Business AI, From First mile to the Last
Authored by Meher Prasad Gupta
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Optimizing Manufacturing with Industry 4.0
Today the manufacturing industry, whether they are MSME or manufacturing giants, are looking optimistically to reduce the OPEX cost by envisioning a growth path through the lens of Industry 4.0. This also includes the strategic growth vision of several CIOs and CTOs for sustaining revenue growth while keeping predicted growth in profits and reducing operational costs on the shop floor.
When looking into digital transformation as a part of a company's strategic objectives, the most important aspect is the feasible application of the agreed initiatives with the transformation vision. This requires surgical precision in identifying the core bottleneck issues and optimizing the digital transformation solution with respect to the overall value chain.
The nature of problems or issues on the shop floor broadly depends on multiple factors such as:
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As a thought leader, I understand the factors affecting industries, whether they are external or internal, are both important to saving operational costs.
In this first article of focused discussion on issue identification and solutioning, I would like to focus on the "Lack of visibility of Shopfloor data."
Business KPIs:
The business is driven by the KPIs formulated by business leadership to drive sustainable company growth in terms of revenue, including profits, company shareholder value, company credibility in the market, etc.
These KPIs are driven by a bottom-up approach, considering the example below for manufacturing KPIs: Shop floor data such as shopfloor inventory visibility, shopfloor throughput, overall OEE, and production downtime provide inputs to the manufacturing KPIs. The KPI visibility to the CMO and business leaders is achievable with the implementation of digital manufacturing solutions.
This visibility helps business leaders make data-driven decisions. Currently, 75% of the industry struggles with the visibility of shopfloor data. The remaining 25% are struggling with either proper linkages of the data or improper reporting.
Stellium Inc. has a structured way of working as a partner and consultant to suggest the optimum solution for the client business to grow and achieve agreed company performance.
Reach out to us for customized tailored solutions for your manufacturing industry.
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