Top 10 benefits of industry 4.0 in manufacturing
Manufacturing Global breaks down 10 benefits of industry 4.0 in manufacturing.
Productivity
When it comes to industry 4.0 in manufacturing, the capabilities of the technology enables facilities to produce more and faster while allocating resources with increased efficiency.
With the likes of enhanced machine monitoring and automated/semi-automated decision-making production lines will also experience less downtime.
Efficiency
With industry 4.0 multiple areas will become more efficient, in addition to less machine downtime and increased productivity, industry 4.o capabilities can also help with faster batch changeovers, automatic track and trace processes and automated reporting, in addition to new product introductions (NPIs) becoming more efficient as well as more efficient business decision making.
Knowledge sharing and collaboration
Traditionally, manufacturing facilities operated in silos resulting in minimal collaboration and knowledge sharing. Industry 4.0 technologies give production lines, business processes and departments the automatic capabilities to communicate, share data and make improvements regardless of their location, time zone or platform.
Flexibility and agility
With a smart factory that is effectively using industry 4.0 capabilities, the facility will also benefit from more flexible and agile operations. With industry .0 technology it is easier to scale up or down production lines, as well as being easier to introduce new products, create one off manufacturing runs or create high-mix manufacturing opportunities.
Compliance
When it comes to compliance in manufacturing it does not have to be a manual process. By harnessing industry 4.0 capabilities, manufacturers can automate the compliance process including track and trace, quality inspections, serialisation and data logging.
Improved customer experience
With industry 4.0 manufacturers can benefit from increased opportunities to improve the services and products offered to customers as well as the customer experience. Automating the likes of track and trace facilities can quickly resolve problems, improve product availability, improve product quality and offer customers more product and service choice.
Cost reductions
While there are upfront costs when it comes to becoming a smart factory, long-term industry 4.0 technologies will reduce the cost of manufacturing with the help of automation, systems integration and data management.
Key drivers as a result of industry 4.0 which is reducing the cost of manufacturing include:
- More efficient use of resources
- Faster production
- Reduced machine and production line downtime
- Improved product quality
- Reduced waste
- Lower overall operating costs
Innovation opportunities
As a result of industry 4.0 technology manufacturers can benefit from increased visibility and transparency across the production process, supply chains, distribution chains, business performance and the products. As a result manufacturers can benefit from increased opportunities to innovate such as changing processes, developing a new product, optimising the supply chain or improving Overall equipment effectiveness (OEE).
Higher revenue and profitability
When it comes to higher revenue and profitability there are many factors that can contribute to this benefit including:
- The ability to automate production lines and implement other technologies to increase production shifts with minimal staffing costs to meet an increase in demand
- The ability to produce higher quality, higher margin, more innovative or more personalised products
Return on investment (ROI)
While industry 4.0 technologies are transforming the manufacturing industry around the world, it is important to ensure that the innovations made provide a return on investment (ROI) in order to stay competitive and equip your production lines for the future.
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