Top 3 Technologies Giving Manufacturing Business Models a Smart Makeover

By CIOReview | Wednesday, June 26, 2019

Future factories are more than just restructuring of the whole production process, but now, there is a radical shift in the way manufacturing companies build their business models.

FREMONT, CA: Manufacturers are embracing digital technologies, as the fourth industrial revolution reshapes the world economy. This trend has led to the merging of the internet and factories, giving rise to smart factories and efficient and cost-effective manufacturing. The survey reports that new technology-driven production systems have 20- to 50- percent higher performance, and are transforming the way factories transport goods and run their supply chains. And indeed, new technologies can make work less repetitive, more engaging, and diversified.

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• AI and Analytics

AI-enabled production ecosystems are capable of improving efficiency, executing predictive maintenance tasks, and even supporting workers and amplifying their productivity. In complex environments, AI systems can help bring about a degree of control never seen before. With IoT accounts for a massive amount of data being generated, digitalization will be essential as it allows for data to be streamlined and make factory floors more collaboration-friendly. Continued data analytics at that scale can bring the factories a step closer to 100% productive.

• Additive manufacturing

Additive manufacturing, or 3D printing, is profoundly impacting manufacturing, from the tools used and product parts generated to total volumes of production. It is ushering in a new era of product innovation. For beginners, it is enabling more original, vital designs that aren’t possible in conventional manufacturing.

• Robotics

Industrial robots used in factory floor are programmable machines which are increasingly embedded with network connectivity. Connecting robots to the network and cloud allow manufacturers to monitor and improve the performance and efficiency of the operations and devices and thus improve the quality of products.

Smart factories reduce waste, maximize profit, and make their customers happy. Their operations based digital technologies that make work more exciting and lead to doorways of opportunities. Adapting to change is not easy, but the reward for it will be impressive to ensure growth for many years to come.