12 Oct 2021
This is a concise discussion on where your manufacturing operations and supply chain execution teams can find immediate ROI by adopting industry 4.0 practices.
The buzz words around industry 4.0 include machine learning, big data, visualization, analytics, automation, IoT, robotics, cloud computing, blockchain, integrations, and many more. It is hard to sift through the chaff and figure out the benefits that your business can get from these digital transformations.
Here are four areas you should consider depending on your company workflows.
1. Cloud computing = Better Collaboration
Manufacturing and supplier teams are more distributed than ever before. Adopting collaborative tools closes the gap between teams and allows for greater transparency in your business. In return, this increases visibility, enabling you to predict and mitigate risks before they happen.
2. Big data, visualization, analytics = Data-Driven Decisions
It is common to have data siloed away in emails or spreadsheets making it difficult to understand your business trajectories and making demand forecasting almost impossible. Cloud computing has made it easy to collect all data onto a single platform where machine learning and algorithms can be used to mine data, cut through the noise and provide actionable statistics.
3. IoT, Automation, robotics = Warehouse Management and fulfillment accuracy
The warehousing and fulfillment field has seen an immense level of innovation leading to automation and robotization of most tasks such as picking and packaging. Real-time tracking, on-time pickup, and delivery can be greatly improved by integrating your existing system with modern WMS and fulfillment platforms. An investment in robotics and software can yield a quick ROI by reducing shipping and transportation costs while reducing human errors.
4. Ultimate Goal = Single source of truth
Your team working from a cloud-based platform is akin to having a central command where all stakeholders make decisions based on the same facts. This enables your organization to respond quickly and avoid costly disruptions in real-time, minimizing risks.
These are just some of the ways that you can start implementing industry 4.0 in your organization. I recently wrote a guide on how to choose software in manufacturing that you may find helpful.
If you are Consider adopting tools or software that will provide a means to manage bills of materials, quality control, engineering change orders, purchase orders, logistics, supplier collaboration, and analytics. Such tools have become affordable with some companies offering startup packages. Check out Cloudsyte Manufacturing and Supply Chain Automation software.