In today’s manufacturing world, it’s more important than ever that manufacturers are able to improve their flexibility and adapt to new technology. The advent of Industry 4.0 has enabled entire supply chains to be connected. Big Data analytics is minimizing machine downtime through the power of predictive maintenance. So, how can these technologies be leveraged to optimize operations?
The fundamental goal of operations optimization is to maximize your production and minimize your total cost. Operations optimization involves making sure that all of the processes within your organization are as efficient as possible. Here are some methods that manufacturers can use to optimize their operations.
A connected workplace gives you access to an unprecedented amount of data on how your machinery is operating. Sensors collect asset information that can be fed into algorithms that can accurately predict when an asset is likely to break down. In the past, routine maintenance checks likely had to be carried out and a level of guesswork may have been needed to assess the health of machines. Machine downtime leads to various forms of waste all through the supply chain and can be damaging to a company’s reputation. Predictive maintenance allows you to reduce unplanned downtime.
You can keep your customers happy and minimize the number of technician dispatches by adopting remote monitoring technology. In the past, the outage of a product in the field may have resulted in having to send a technician to diagnose and fix the problem on-site, which is both time consuming and expensive. With remote condition monitoring, an asset’s health can be assessed from a centralized server. By identifying a problem before it arises, you can improve first-time fix rate, mean-time-to-repair, and customer satisfaction.
With the rise of mass customization, manufacturers have to adopt more complex manufacturing procedures and technologies. This means that employees within an organization need to be trained as efficiently and quickly as possible. Manufacturing organizations must also find innovative ways to upskill their employees quickly.
Augmented reality provides a training solution that allows you to replicate real-life working conditions for your trainees. This reduces your total onboarding time because you are able to offer safe and practical experiences for your employees. Augmented reality-based training is also highly adaptable. In the past, organizations may have had to reprint entire manuals and presentations to upskill their employees whenever there was a change in technology. AR-based digital experiences can be updated from the cloud instantly.
In order to maximize efficiency, a manufacturing organization must be able to streamline their processes to eliminate waste within the organization. In the past, key data was often collected from individual parts of a supply chain in a manual way and stored in fragmented siloes. This approach makes it hard to have a holistic picture of your production process; inefficient processes can easily go unnoticed. On the other hand, having a connected supply chain and workplace means that you can use the flow of information to inform and harness the power of Big Data analytics software to make critical business decisions.
Ultimately, operations optimization relies on generating more meaningful data that can be used by a manufacturing organization. By making your manufacturing organization more efficient, agile, and productive, you can compete globally and enter into new, emerging markets.
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