Technologies enable manufacturers to convert factory floor data into valuable enterprise knowledge, says Pawa
Digital technologies are empowering manufacturers to embark on an enterprise-wide digital transformation journey,” says Ashish Saxena, Vice President & Manufacturing Sector Head, Americas, Wipro Ltd.
“The industry is at the cusp of an unparalleled opportunity to create new business models that operate at the intersection of commercial success and environmental sustainability, said Sexana on releasing a report in association with Harvard Business Review Analytic Services entitled, ‘Manufacturing 2025: Bolder Vision, Stronger Purpose’.
The report, released 2 Aug 2022, explores how forward-thinking manufacturers are embracing enterprise-wide digital transformation to redefine their value propositions, drive enhanced innovation and deploy predictive analytics to better manage supply chains and operations, as well as to unlock new revenue streams.
“C-suite sponsorship, proactive talent re-skilling and a clear articulation of the bolder vision with a stronger purpose is key to this digital transformation,” he underlined.
The report quotes Paul Calver, founder and digital manufacturing director of The Data Analysis Bureau, as saying, “Manufacturing firms could be losing up to US$1 trillion a year in unscheduled maintenance, a problem that digital transformation can help with”.
Leading manufacturers are mitigating this by implementing a smart factory and artificial intelligence approach to harness the untapped wealth of data that they already have.
Many manufacturers are already scaling emerging concepts such as blockchain, dedicated software entities and smart factory concepts, including digital twins and the use of predictive maintenance to respond to market conditions by improving operations.
They are also setting up systems to capture new forms of data, build on historical learnings and draw on the self-adapting predictive maintenance these data streams offer to deliver immediate cost savings.
“The structure and multiplicity of data sources for factories have challenged manufacturers in their quest to obtain a unified view of their machines, material and methods,” says Ankur Pawa, Manufacturing Domain Head, Wipro Ltd.
“Today’s cognitive and advanced technologies enable manufacturers to convert factory floor data into valuable enterprise knowledge, leading to improvements in quality and productivity.”
Finally, the report highlights how many manufacturers are taking an organization-wide, holistic approach to their digital transformation endeavors, including fostering a culture of innovation, investing in people, and aligning business models with their sustainability agenda.
Leading manufacturers are looking to accelerate progress towards environmental, social and governance (ESG) goals, by adopting digital technologies across the manufacturing industry value chain, says the report.
Further, manufacturers are leveraging the digital, decarbonized and dependable (3D) sustainability framework to create value for ESG stakeholders, become resilient, and discover co-creation opportunities with customers. fiinews.com
