Data-the Path to Minimal Manufacturing Waste
Today’s manufacturers can easily overhaul the conventional processes with the help of technology. They can not only determine the flaws in conventional manufacturing practices but also exercise methodologies like lean manufacturing and increase their efficiency. The benefits of applying these techniques range from efficient shop floor management to reduction in manufacturing waste. They can also easily comply with the numerous regulations. Eventually, all these subtle changes will contribute to improving profitability and reducing material wastage.
While machine-to-machine communication facilitated by internet plays a crucial role in rendering critical data to manufacturers, technologies like IoT and Big Data can enable them to determine the fatal flaws in a manufacturing process. For instance, manufacturers can aggregate inventory data to analyze the sales cycle and reduce the bottlenecks in injecting efficiency into them. Sometimes internal processes restrict the manufacturers from adopting new practices and solutions but data can help them in identifying the conventional malpractices as well. They can understand the demand-supply equation and connect with suppliers in real-time for replenishing the inventory. With crucial information about the customer demographics, they can refine their manufacturing preferences.
The datasets can also help manufacturers to recognize the quality defects that might be a key contributing factor in lowering sales. With more data points about the shop floor processes, businesses can plan the downtimes. Subsequently, they can manage the inventory to maintain the supply at the level prior to the downtime. Precise information about downtime will eventually lead to optimizing the production process.
Leveraging IoT and Big Data in tandem with the right manufacturing methodologies will empower manufacturers to ensure minimal material wastage.