Leveraging Industry 4.0 technologies
The study provides an insightful reflection of the awareness, readiness and status of implementation of digital manufacturing in India. It is apparent that manufacturing leaders have started exploring the adoption of digital manufacturing in their organizations. Some of them even have a strategy and a budget ready for digital manufacturing initiatives. However, lack of clarity on the economic benefits of the investments required to integrate hardware, software and technology infrastructure with digital systems and decision intelligence capabilities is acting as a roadblock for these organizations to move towards the adoption of digital manufacturing. Industry leaders are employing emerging technologies to improve the monitoring of process performance through measurement and visualization of KPIs, performance tracking, throughput enhancement and quality improvement. However, there seems to be a wait and watch approach and a majority of leaders are waiting to confirm the success/failures of the existing PoCs before getting convinced about the adoption of emerging technologies such as AI, 3D printing, Machine Vision, and Augmented Reality at scale.
We believe that in an evolving world of well-connected consumers, systems and processes with tremendous ease in accessing information, manufacturing organizations are expected to be proactive, agile, flexible and adaptive. In order to meet these expectations, companies can leverage Industry 4.0 technologies to enable them to:
- Have real-time, on-demand information and visibility across the production chain
- Apply advanced analytics capabilities to refine process and production techniques
- Facilitate end-to-end integration with suppliers, channels, business partners and customers
- Gain agility in manufacturing processes like implementing new products, cutting down cycle and waiting times, changeovers, and feedback loops
- Reduce wastages (rejects, reworks, idle time, excess inventories) and be cost efficient