Redefine Operations with Digital Manufacturing

1. operational excellence consultants operational excellence consultants HOME HOME BLOG BLOG Home Home /  /  Blog Blog /  /  Rede?ne Operations with Digital Manufacturing Rede?ne Operations with Digital Manufacturing REDEFINE OPERATIONS WITH DIGITAL REDEFINE OPERATIONS WITH DIGITAL MANUFACTURING MANUFACTURING 26 26 Dec Dec The manufacturing industry has struggled for years with the challenges posed by The manufacturing industry has struggled for years with the challenges posed by an increasingly connected and digital world. While many companies have tried to an increasingly connected and digital world. While many companies have tried to leverage technology to serve their needs, the most successful organizations have leverage technology to serve their needs, the most successful organizations have been those that have fully embraced the power of technology and its impact on been those that have fully embraced the power of technology and its impact on business operations. In this article, we will explore how Digital Manufacturing is business operations. In this article, we will explore how Digital Manufacturing is rede?ning operations across organizations. rede?ning operations across organizations.  The manufacturing industry has a long history of relying on traditional systems The manufacturing industry has a long history of relying on traditional systems and practices to manage their business.  and practices to manage their business. A rather unclear outlook for the future with a sense of uncertainty hindering progress is what manufacturers used to with a sense of uncertainty hindering progress is what manufacturers used to feel. feel.  A rather unclear outlook for the future With every new ?nancial year, planning became di?cult, due to the lack of clear With every new ?nancial year, planning became di?cult, due to the lack of clear visibility in terms of consumer demand.  visibility in terms of consumer demand. In this context, manufacturers have had to In this context, manufacturers have had to deal with the uncertainty that comes from not being able to see what is coming deal with the uncertainty that comes from not being able to see what is coming up ahead.  up ahead.   Companies are not sure about consumer demand or how much they would sell o? Companies are not sure about consumer demand or how much they would sell o? in an inventory-based approach or making and selling more in a sales-based in an inventory-based approach or making and selling more in a sales-based model. However, the digital revolution has changed the way industry's function model. However, the digital revolution has changed the way industry's function and interact with one another. and interact with one another.  Organizations Started Embracing Technology:- Organizations Started Embracing Technology:- E Embracing technologies like advanced analytics and machine learning, to mbracing technologies like advanced analytics and machine learning, to generate actionable insights about data generate actionable insights about data, , and process it into information for decision decision- -making. These insights helped them understand what could be expected making. These insights helped them understand what could be expected from market trends. from market trends.   and process it into information for They can use this information to decide where to place their resources so that They can use this information to decide where to place their resources so that they can reach their goals in an e?cient manner. they can reach their goals in an e?cient manner.  Advanced analytics refers to using computer programs or software algorithms to Advanced analytics refers to using computer programs or software algorithms to analyze large sets of data to uncover hidden patterns and relationships that analyze large sets of data to uncover hidden patterns and relationships that might not appear obvious at ?rst glance. might not appear obvious at ?rst glance.  It’s used in many di?erent ?elds – such as ?nance, medicine and transportation – It’s used in many di?erent ?elds – such as ?nance, medicine and transportation – but it also has applications within manufacturing. It allows manufacturers to but it also has applications within manufacturing. It allows manufacturers to analyze huge amounts of data related to operations to discover new insights into analyze huge amounts of data related to operations to discover new insights into production processes and identify potential business opportunities. production processes and identify potential business opportunities.  On Road Challenges On Road Challenges Times have changed drastically due to rising competition from new-age Times have changed drastically due to rising competition from new-age enterprises, complex supply chains and evolving customer preferences. For enterprises, complex supply chains and evolving customer preferences. For instance, a large number of manufacturers are involved in global supply chains.  instance, a large number of manufacturers are involved in global supply chains.   I BUILT MY SITE FOR FREE USING I BUILT MY SITE FOR FREE USING CREATE YOUR WEBSITE CREATE YOUR WEBSITE

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In such a scenario, it is important for them to be able to track the materials they In such a scenario, it is important for them to be able to track the materials they use and keep records of their transactions with suppliers from di?erent parts of use and keep records of their transactions with suppliers from di?erent parts of the world. the world.  Another major challenge faced by manufacturers today is that their customers' Another major challenge faced by manufacturers today is that their customers' needs change rapidly over time; thus, making it di?cult for them to predict what needs change rapidly over time; thus, making it di?cult for them to predict what items will sell well in future years when manufacturing decisions need to be taken items will sell well in future years when manufacturing decisions need to be taken now.  now.   This can lead companies into making wrong investments based on inaccurate This can lead companies into making wrong investments based on inaccurate market forecasts. This might later prove counterproductive when trying hard not market forecasts. This might later prove counterproductive when trying hard not only survive but also grow business revenues fast enough by producing products only survive but also grow business revenues fast enough by producing products that customers want most at fair prices (and therefore increase pro?t margins). that customers want most at fair prices (and therefore increase pro?t margins).  How does it Work?? How does it Work??  Today’s competitive edge is driven by data-driven decision Today’s competitive edge is driven by data-driven decision- -making and digitization of everything ranging from sourcing materials, manufacturing goods of everything ranging from sourcing materials, manufacturing goods, , and distributing them across  distributing them across channels. Digital channels. Digital manufacturing is the process of using digital technologies to transform the way a product is designed, sourced, digital technologies to transform the way a product is designed, sourced, manufactured manufactured, , and delivered.  and delivered.  making and digitization  and  manufacturing is the process of using It relies heavily on automation technology to streamline the production process It relies heavily on automation technology to streamline the production process from design to ?nished product. This means that each step in the process has from design to ?nished product. This means that each step in the process has been optimized for maximum e?ciency and e?ectiveness with little human been optimized for maximum e?ciency and e?ectiveness with little human involvement required at any point along this continuum. involvement required at any point along this continuum.  In addition, digital systems also allow companies access to data analytics which In addition, digital systems also allow companies access to data analytics which helps them make changes based on actual performance metrics rather than helps them make changes based on actual performance metrics rather than assumptions based on experience alone. assumptions based on experience alone.  How  How it will it will H Help you  elp you S Stay  tay A Ahead in the  head in the R Race  ace A Against  gainst t time and  ime and C Competition ompetition Digital manufacturing is not a new concept, but the way it is being applied to Digital manufacturing is not a new concept, but the way it is being applied to manufacturing operations is changing. Digital transformation has been around manufacturing operations is changing. Digital transformation has been around for a while and we have seen several industries adopt it with great success.  for a while and we have seen several industries adopt it with great success.   Some of these industries include healthcare, retail, and banking to name a few. Some of these industries include healthcare, retail, and banking to name a few. The same trend can be seen in manufacturing as well. Digital manufacturing has The same trend can be seen in manufacturing as well. Digital manufacturing has many bene?ts for businesses in just about every industry.  It cuts down on labor many bene?ts for businesses in just about every industry.  It cuts down on labor costs by eliminating some steps in production. costs by eliminating some steps in production.  In addition, this process allows manufacturers to produce products faster than In addition, this process allows manufacturers to produce products faster than ever before because they have access to more e?cient machinery and new ever before because they have access to more e?cient machinery and new technology (e.g., 3D printing and AI). This also allow collection of concepts technology (e.g., 3D printing and AI). This also allow collection of concepts like  like world class manufacturing (WCM) world class manufacturing (WCM) to improve the standards for production. production.   to improve the standards for This means they can respond more quickly when customers need orders ?lled, This means they can respond more quickly when customers need orders ?lled, which improves customer satisfaction levels while also reducing inventory costs which improves customer satisfaction levels while also reducing inventory costs associated with storing unsold goods in warehouses allowing your organization associated with storing unsold goods in warehouses allowing your organization stay ahead in the race against time and competition. stay ahead in the race against time and competition.  Conclusion Conclusion  Nowadays, companies need to be prepared for the next wave of Nowadays, companies need to be prepared for the next wave of innovation. To keep organizations ahead in the competition, innovation. To keep organizations ahead in the competition, Faber in?nite global consulting global consulting, help businesses adopt to the new ways of manufacturing and , help businesses adopt to the new ways of manufacturing and change. As, it’s not enough anymore just to have good products or services, it’s change. As, it’s not enough anymore just to have good products or services, it’s also important that they are delivered on time and with high-quality standards at also important that they are delivered on time and with high-quality standards at all times.  all times.    Faber in?nite Faber In?nite Consulting Faber In?nite ConsultingFaber In?nite Faber In?niteFaber Faber consulting business consulting businessfaber global consulting faber global consulting Like Share Comments Comments Write a response here... I BUILT MY SITE FOR FREE USING I BUILT MY SITE FOR FREE USING CREATE YOUR WEBSITE CREATE YOUR WEBSITE

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