9 Advantages of Implementing Smart Manufacturing
9 Benefits of Transforming to Smart Manufacturing in 2024

May, 2024

Category : Blog

9 Benefits of Transforming to Smart Manufacturing in 2024

Smart factories, Industry 4.0, and smart manufacturing are among the most searched keywords on the web recently. There is a growing demand for technologically upgraded systems and processes. However, one might ask specific reasons behind this rush, and to answer that, we have crawled the web and filtered ten reasons to feed your curious brain.

Let us begin with the reasons and advantages of adopting smart manufacturing to seize opportunities before others do. We also recommend pursuing a quality smart manufacturing program to engineer India towards the ‘Viksit Bharat’ goal by its centennial year in 2047.

9 Advantages of Smart Manufacturing Every Manufacturer Should Know

1) Increased Efficiency

Interconnected devices in Industry 4.0 help develop smart factories. Automation and smart machines turn conventional manufacturing into smart manufacturing with improved efficiency and fewer errors. Smart factories make production processes flexible, automated, and efficient. IoT, Cloud Computing, AI & ML, Cyber Physical Systems, and Additive Manufacturing are core technologies responsible for tech transformation.

2) Increased Production

Conventional manufacturing depends mostly on manual processes, including manual quality checking and human labor. This opens the scope for errors due to humans’ natural limitations, which machines don’t. It also makes automation the next step of manufacturing for enhanced production. Future factories with smart manufacturing processes can respond to industry demands in real-time. Autonomous machines generate data from diverse sources and aggregate many data points, which can be analyzed to gain real-time insights and enhance production processes.

3) Improved Process Quality

Future factories will not only be about quantity but also about quality production. Tools of Industry 4.0, including artificial intelligence, the Internet of Things, big data, etc., help improve production quality by making accurate and timely decisions. These new-era technologies support enhanced agility, can predict machine failures, and optimize overall production mechanisms. IoT and big data effectively analyze collected data for mass customization, product design according to specific customer needs, and more.

4) Energy Savings

Smart manufacturing optimizes the production process, significantly saving energy. Energy consumption is a major expenditure for a manufacturer, and smart manufacturing supports a healthy balance sheet and lower overhead costs. According to MDPI, artificial intelligence, the Internet of Things, cloud computing, and other Industry 4.0 technologies can boost energy efficiency by 15 to 25% when strategically integrated into production processes.

5) Reduced Fixed Costs

Automation is the key feature of smart manufacturing. It reduces production costs significantly by implementing autonomous systems or robots and minimizing dependence on human labor. Machines don’t tire and can function round the clock. Overall, it decreases frequencies of downtime, enhances production efficiency, and reduces fixed costs to the company.

6) Increased Reactivity

Faster reaction time and the flexibility to adopt changes quickly are crucial for an efficient manufacturing process. Industry 4.0 technologies increase reactivity and enable factories to respond faster to changes. Reaction time in manufacturing refers to the time it consumes to detect, evaluate, and respond to a potential risk or need.

7) Increased Competitiveness

We live in a hyper-connected world, and smart manufacturing can help factories become more competitive in the global market. New and innovative technologies, interconnected machines, and new-age technologies improve the competitive ability of organizations on regional and global platforms. Modern technologies like artificial intelligence, machine learning, advanced robotics, big data processing, etc., improve overall efficiency and facilitate local companies going global.

8) Higher Productivity

Smart manufacturing in Industry 4.0 helps minimize downtime and improve resource utilization. According to research, AI and IoT-enabled tools offer up to 20 times better operational predictions compared to conventional BI tools. New technologies provide vital inputs on factors like pressure, temperature, vibration changes, and more.

9) Predictive Maintenance

IoT, artificial intelligence, predictive analytics, IIoT, and other tech of smart factories gather vital data from machinery and equipment on the floor. Analyzing this data provides real-time data and helps with predictive maintenance. AI-powered big data analysis prevents asset failure and assists with identifying trends, patterns, and potential risks. These data-based insights provide a projected Remaining Useful Life (RUL) of the machine and support organizations in tackling potential issues before something significant happens.

Conclusion

To be successful in a specific market segment, growth only in terms of volumes and revenue is no longer sufficient. Knowing how to adapt quickly to change and seize a competitive edge is vital. Implement smart manufacturing practices in your organizations and leverage the exceptional benefits of new-age technologies to scale horizontally and vertically.

Reference Links
https://www.mdpi.com/1996-1073/16/5/2124#:~:text=At%20a%20global%20level%2C%20it,achievement%20of%20higher%20energy%20efficiency.

By integrating these insights into your manufacturing processes, you’ll be better positioned to lead in the dynamic landscape of Industry 4.0.