Manufacturing industry is one among those that continues to grow with every successive day. The growth is too swift and requires a change every moment to keep the pace of growth high. There are various technologies that are coming in to existence in the present technological era and also becoming the biggest reason for the growing competition. Apart from this speedy growth, instability of national and international market is also been a hindrance in the route map of manufacturing companies growth. There are many other challenges faced by the manufacturing industries. Are you willing to be a part of manufacturing industry or willing to invest in the same? Then you must first get to know the pros and cons of this industry that may out a great impact on your revenue. There are several challenges faced by the manufacturing industry and each challenge has different type of consequences and also has solutions too. If you are willing to know the manufacturing industry deeper then you are on the right page.
Major Challenge of manufacturing industry and appropriate solutions:
- Demands and products forecast:
For a manufacturing industry it is mandatory to meet the requirement of the market and to do so, they have to be prepared for the future demands without over flooding the products to avoid wastage of products. To attain these objective manufacturing units need to precisely forecast the demand by understanding the market trends and their targeted customers. If any manufacturing fails to forecast the products demand then they have to suffer heavy loss due to lower sales or over investment in production than revenue generation.
Forecasting needs a proper input about the market, market trends and of course purchase history of all customers. Tracking all the information seems to be a tough job, not any more. With the technological advancements, manufacturing industry has got various tool with which they can keep a precise track record of every market movement and can plan the further production strategy based on the received input.
Digital twin: A boon for manufacturing industry
Manufacturing industries possess a huge capital investment for various processes and hence increasing the price of the commodities too. Digital twining has been emerged as a revolution in the world of manufacturing. It is contributing a great part in production cost deduction, operational cost deductions, and also boosting the life of assets and equipment. The application of digital twining has been imposed to the complete product’s lifecycle. This technology is helping to broaden the incorporation of digitization to the manufacturing operations. There are multiple digital twining applications incorporated in manufacturing industry. If you are also in the manufacturing business and seeking new ways to reduce your production cost with a hike in sales and revenue then knowing everything about digital twining is really important for you.
Major digital twin applications in manufacturing industry are listed below:
Digital twining was initially used by the engineers to visualize a product before it is being manufactured. This technology helps the producers to know the end product before the physical counterpart actually comes into existence. As the latest technological development with the help of IoT, now these pre-visualize products can be captured for future reference or analysis.
It is a world where everyone’s requirements and preferences matters. Now folks love to get a product which is precisely customized for their needs. Digital twining technology provides a flexibility to customize the products as much as can and as many times we need. This technology is the only and the best way to incorporate customer’s input before even the product come into existence.
Production was the part that comprised of most of the technicalities and also capital consumption. A small change or error during the production may lead to major losses. Now, with the help of digital twin technology, manufacturers has a final version of product with every single specifications required to develop a product in the similar way. It reduces the possibility of error to least increasing the revenue and profits.
What is advanced manufacturing and how it is making effective use of technologies?
Manufacturing industry is undoubtedly a competitive industry and is everyday working hard to beat the competition with several innovations and experiments. The advanced manufacturing is done to get an enhanced output and increased values by using various methodologies. The major objectives covered with advanced manufacturing are elevated rate of flexibility, higher quality, better response to the market trends and requirements, and many more. It also facilitate the manufacturers to reduce the time required to set the product out to the market and also has given a way to reduce the material content and material inventory too. The technologies incorporated in advanced manufacturing are to improvise the manufacturing standards.
- Efficient production:
The production procedure includes a various steps like designs, modeling, production technologies, and various control technologies. Each of these steps was done sequentially based on the traditional manufacturing technologies and planning. With the advanced manufacturing technologies, every step of production can be taken forward simultaneously, making the procedure more efficient and quick. These production technologies make the manufacturing more neat and tidy. The precision level of the manufactured product also enhances to the double level with advanced manufacturing technology.
Machines play an important role in producing the best products. Advanced manufacturing technologies incorporate the best machineries having intelligent work mechanism, which means can act intelligently to make the procedure smart and effective. With these latest technologies manufacturing procedures are able to get well connected with logistic services.
Manufacturing industry is not just about producing end products; rather it includes several stages of production. Single units of production may work effectively but when it comes for the achievement of business objective, a coordinated work of every unit is required to ensure the efficiency and excellent productivity. Modern manufacturing technologies help various units of manufacturing to work simultaneously and bring out the best output as desired.
Artificial intelligence: Playing heroic role in manufacturing industry
Manufacturing is one of those industries which require a heavy man power to execute the procedure. Also this industry requires a keen observation and detailed eye perfection to bring out a flawless production. Here comes in the role of artificial intelligence promising to add an amazing bounce to the manufacturing productivity. Factories are becoming smarter and automating the work with constant lift in the technology used by them. At present times, approx. 40% of worldwide production is based on artificial intelligence. Studies conducted over manufacturing markets depict that incorporation of artificial intelligence has spiked up the business to the count of 3.8 trillion dollars. Artificial intelligence has a wide array of use case in manufacturing industry.
Uses of artificial intelligence in manufacturing industries are listed below:
Quality plays a crucial role in manufacturing industry. Even smallest flaws of a product make biggest difference, but detecting those defects with naked eyes are sometimes a hectic and also impossible job. As a solution, artificial intelligence cop up with various procedures to detect smallest defects with microscopic cameras. Artificial intelligence automates the entire procedure making it easier, filled with greater perfection, and the most important it doesn’t require any human assistance.
Prediction of failure modes:
Failure is common in every procedure, but if it occurs at the end of process then may be a reason for bigger loss. Products can fail at distinct stages, in variety of ways, under different conditions. Predicting every condition and running various tests manually will be a time taking procedure and may not be able to propose all the permutations and combinations of possible failure. Artificial intelligence enables the manufacturing industry to automate entire process without setting every single condition in the machine. Artificial intelligence is backed up with the machine learning in which the technology provides a brain to the machine to learn at its own by conducting a study of previous tasks, studies conducted and stored in the channel before and take wise decision without any manual assistance.