Smart Machines Are The Future Of Manufacturing
Industrial Internet of Things (IIoT) presents integration architecture challenges that once solved can enable use cases that deliver fast-growing revenue opportunities. ISA-95 addressed the rise of global production and distributed supply chains yet are still deficient on the issue of data and security, specifically the proliferation of IIoT sensors, which are the real security perimeter […]
Seven Things You Need To Know About IIoT In Manufacturing
Global spending on IIoT Platforms for Manufacturing is predicted to grow from $1.67B in 2018 to $12.44B in 2024, attaining a 40% compound annual growth rate (CAGR) in seven years. IIoT platforms are beginning to replace MES and related applications, including production maintenance, quality, and inventory management, which are a mix of Information Technology (IT) […]
Industry 4.0’s Potential Needs To Be Proven On The Shop Floor
99% of mid-market manufacturing executives are familiar with Industry 4.0, yet only 5% are currently implementing or have implemented an Industry 4.0 strategy. Investing in upgrading existing machinery, replacing fully depreciated machines with next-generation smart, connected production equipment, and adopting real-time monitoring including Manufacturing Execution Systems (MES) are manufacturers’ top three priorities based on interviews […]
Vodafone’s 2019 IoT Barometer Reflects Robust Growth In The Enterprise
85% of enterprises who develop deep expertise with IoT succeed at driving revenue faster than competitors. 81% of enterprises say Artificial Intelligence streamlines interpreting and taking action on data insights gained from IoT systems and sensors. 68% of enterprises are using IoT to track the security of physical assets, making this use case the most […]
How Machine Learning Improves Manufacturing Inspections, Product Quality & Supply Chain Visibility
Bottom Line: Manufacturers’ most valuable data is generated on shop floors daily, bringing with it the challenge of analyzing it to find prescriptive insights fast – and an ideal problem for machine learning to solve. Manufacturing is the most data-prolific industry there is, generating on average 1.9 petabytes of data every year according to the McKinsey Global Insititute. Supply […]
Reinventing After-Sales Service In A Subscription Economy World
91% of manufacturers are investing in predictive analytics in the next 12 months, and 50% consider Artificial Intelligence (AI) a major planned investment for 2019 to support their subscription-based business models. New subscription business models and smart, connected products are freeing manufacturers up from competing for one-time transaction revenues to recurring revenues based on subscriptions. […]
How Blockchain Can Improve Manufacturing In 2019
Combining blockchain and IoT will revolutionize product safety, track-and-traceability, warranty management, Maintenance, Repair & Overhaul (MRO), and lead to new usage-based business models for smart, connected products. The business value-add of blockchain will grow to slightly more than $176B by 2025, then exceed $3.1T by 2030 according to Gartner. Typical product recalls cost $8M, and many […]
10 Ways To Improve Cloud ERP With AI And Machine Learning
Capitalizing on new digital business models and the growth opportunities they provide are forcing companies to re-evaluate ERP’s role. Made inflexible by years of customization, legacy ERP systems aren’t delivering what digital business models need today to scale and grow. Legacy ERP systems were purpose-built to excel at production consistency first at the expense of […]
10 Ways Machine Learning Is Revolutionizing Manufacturing In 2018
Improving semiconductor manufacturing yields up to 30%, reducing scrap rates, and optimizing fab operations is achievable with machine learning. Reducing supply chain forecasting errors by 50% and lost sales by 65% with better product availability is achievable with machine learning. Automating quality testing using machine learning is increasing defect detection rates up to 90%. Bottom […]
Roundup Of Internet Of Things Forecasts And Market Estimates, 2018
According to IDC, worldwide spending on the Internet of Things (IoT) is forecast to reach $772.5B in 2018. That represents an increase of 15% over the $674B that was spent on IoT in 2017. The global IoT market will grow from $157B in 2016 to $457B by 2020, attaining a Compound Annual Growth Rate (CAGR) […]
