Industry 4.0. The Fourth Industrial Revolution. The smart factory. Call the concept whatever you want, the core goal remains the same. You’re talking about an era when manufacturing organizations embrace big data and automation to such a degree that improvements in terms of efficiency, accuracy, and flexibility are a forgone conclusion.
According to one recent study, the global smart factory market size is anticipated to hit an enormous $321 billion by as soon as 2032. The last few years have taught us that manufacturers need to better prepare themselves for some of life’s bigger challenges and an investment in digital transformation is going to be a big part of how they do it.
Of course, that demands the question – just how big does that investment have to be? Do you have to tear down your current factory and build an entirely new one from the ground up to take advantage of all the benefits that a smart factory can bring with it?
Not exactly. In fact, you may already be on the road to digital enlightenment without even realizing it.
The Era of the Smart Factory is Upon Us
It’s important to understand that embracing your evolution into the world of smart manufacturing is less the product of any one major move and is more about a series of smaller ones. So you’re not looking at one large investment you have to make at a moment’s notice – you’re looking at smaller and more strategic ones that all add up to something bigger as a group than they could individually.
Smart factories are all about improving the quality of the products that you’re manufacturing. They’re your chance to leverage automated processes and quality control measures to make sure your finished products are error-free and that they’ll meet the expectations of your customers.
Smart factories are about increasing efficiency wherever possible. It’s your way better utilize resources and other assets in a way that optimizes your production line across the board. People spend less time standing around waiting for problems to be solved and more time generating revenue for your organization.
Smart factories also bring with them a new level of sustainability. Increased efficiency comes with better resource utilization, a more efficient use of energy, and more. As your manufacturing environment’s environmental impact is reduced, so are your costs. All of that is money that can be funneled back into other areas of the company where it can have the biggest impact.
Quality. Performance. Availability. That’s what smart factories are all about. And how do you get there?
Through machine downtime tracking.
If the journey of a thousand miles begins with a single step, for many manufacturers that step will take the form of tracking machine downtime. Once you’re on the path, you can build and grow from there.
If you’d like to find out more information about how you can take your first steps into the world of the smart factory by way of tracking machine downtime, or if you’re just looking for an opportunity to improve the speed and reliability of your own operations, please contact Thrive today.
