Manufacturers are facing a knowledge crisis. Baby boomer talent is retiring - and walking out the door with them are decades of knowledge crucial to company operations. Capturing knowledge that took years to develop and refine is difficult, time consuming and inefficient – but it does not need to be. Modern software and digital technologies can overcome many of the difficulties with traditional ways of capturing knowledge, easily preserving it for the future.
While the recent economic shutdown likely caught many auto industry manufacturers off guard, it’s time to prepare for what is next. Here are some ways to minimize near-term risk and some tips for how to prepare now for a post-crisis world.
As high-tech products, systems, processes and data become more complex, companies are leveraging digital technologies - like digital twins, smart connected operations and machine learning - to build value and stay competitive.
Smart factories, enabled by digital technologies and concepts, may not be as futuristic as you think. Need inspiration to get started? Here's our UPDATED vision of the factory of the future, and the people and processes that will be impacted.
Digital initiatives and strategies create buzz words in every industry but the buy in doesn’t always follow. The excitement and investment in smart factory sensors and processing capabilities is only justified as long as there is visible value provided that can be communicated in a meaningful way.
Discrete manufacturers and R&D professionals have long viewed product lifecycle management (PLM) as a means to enhance manufacturing and design process management, data integrity and digital mockup. While these capabilities serve as a baseline to address operational challenges, current out-of-the-box solutions lack the maturity to maximize the value of product data and quickly tie it to business decisions.
The cost of cyber-attacks on the global economy is estimated to exceed $6 trillion by 2021, averaging $4 million per company per attack. With such a high price tag, the risks that accompany smart operations may seem to outweigh the benefits. This could not be further from the truth.
Here are practical steps to equip you with the knowledge and insight needed to advance a smart connected operations initiative within your organization.
Smart connected operations allow manufacturers to leverage emerging technology to tap the well of data at their fingertips, creating insights at scale that can be used to improve operational performance and discover new business models.
Digital technology enables a variety of tangible, factory floor benefits, but how does the technology actually work?