In today’s unprecedented business world, most Manufacturers are facing a problem. It is whether to ramp up their digitalization measures or continue with tried-and-tested approaches. In the long run, digital transformation through cutting-edge technologies for manufacturing adds a lot of value to the sector. Leaders unlock a slew of benefits. Advanced technology in the manufacturing industry such as ERP, streamlines all sections of a firm’s operations. Which includes resources, operations, monitoring, reporting, sales, accounting, finance, etc. It allows enterprises to operate efficiently using a single database. Also, Government regulations are pushing toward electronic reporting compliances to drive transparency in the economy. The manufacturing industry could be revolutionized by accepting digital transformation.
Real-time data can be utilized to monitor, resolve, and even forecast issues to optimize machinery lifecycles. It helps to ensure that operations are error-free and that expensive rework and disruptions are prevented.
A digital transformation strategy in manufacturing makes the way for a holistic optimization approach. It does so by utilizing automated, innovative factory features in your ERP. It can help you improve your business performance and supply chain.
In this article, I will discuss a few advanced technologies in the manufacturing industry that are improving the business models.
Top Advanced Technologies in the Manufacturing Industry:
1. Industry 4.0
Industry 4.0 is the integration of traditional manufacturing, industrial factories, and smart technology across the value and supply chains. Also known as “the fourth industrial revolution”. The foremost purpose of Industry 4.0 is to automate production processes. To the point where digitalization controls and automates all processes in real-time. An example of Industry 4.0 technology could be a machine with embedded sensors. Which communicates with another machine based on the data they receive through the sensors. Further, all the process is happening without the intervention of another human. In the future, Industry 4.0 can blur the line between actual and virtual warehouses. Hence, it can free staff for more effective collaboration.
One of the major technologies of Industry 4.0 is the Internet of Things (IoT). It is a network of interlinked physical objects that communicate based on calculated data and their environment. Including data fed from outside. Accepting IoT can direct to new functions, insights, services, and benefits for manufacturers.
The most prominent example of IoT is in operations, asset management, and personnel management. For instance, manufacturers can establish preventative maintenance programs with real-time monitoring. It can also improve energy efficiency and working conditions through intelligent air management, risk management, worker productivity, and more.
3. Machine learning
There is a huge amount of data, machines are accumulating. It’s easier than before to leverage algorithms to quickly perform the action among multiple options. Something that would be too inefficient with workers. Today’s machines have proven that quality cannot be sacrificed for efficiency. Since machines can more carefully detect and anticipate which factors will impact production, or assembly line speed and quality. An example of machine learning is that it can include suggesting the best course of action for employees. It can predict waiting times, shipping times, or behavior models for supply chain risk prevention. Data generated by machines deliver insights into all areas of the production process when integrated throughout the supply chain.
Against the backdrop of interconnectivity, new technologies in robotics will continue to innovate. Especially in autonomous driving, dexterous carrying, moving, and so on. Moreover, as robots become more autonomous, flexible, and cooperative, they will be able to tackle even more complex assignments. Hence, they can relieve employees from repetitive tasks and increase productivity on the factory floor.
5. B2B eCommerce
B2B eCommerce platforms today must react to B2B buyer needs quickly. Which tend to reflect those of B2C consumers. Preserving B2C-like experiences is challenging. Whilst B2B demands are custom checkout workflows, pricing rules, product data personalization, and other complex functions run in the background. However, some of the manufacturers were able to digitally transform their stores by implementing OroCommerce. This transformation enabled them to use a single website for segmentation and multichannel capabilities and helped improve their business models.
To conclude, advanced technologies in the manufacturing industry unlock many opportunities, including customization, efficiency, agility, and automation. However, any digital transformation approach must never lose track of changing times. Hence, manufacturers should always remember that digital transformation is inevitable. However, it should not be seen as a solution to any single area of manufacturing. In its place, creating a manufacturing digital transformation roadmap should be looked at as an ongoing process of getting. Hence it will help in staying at the top of your market.
If you also want to start your journey in implementing advanced technologies for your business, then consult our industry experts at Aeologic Technologies.
How can manufacturing businesses utilize industrial eCommerce for digital transformation?
B2B eCommerce software allows manufacturers to:
- Unleash online selling business models to maximize sales
- Introduce self-service which will streamline the ordering process
- Create personalized buying experiences for customers
- Sell directly to customers without disrupting your current sales channel
What do you mean by Industry 4.0?
Industry 4.0 is the integration of previously unequal systems and processes through computer systems and online networks. In order to allow business agility, flexibility, and operational performance