IoT: Winning back the 40% losses hidden in your factory.

IoT: Winning back the 40% losses hidden in your factory

Most manufacturers know that there are parts of their operations that are not as they should be. Workarounds, re-work, scrap, waiting and other forms of waste can be a significant drain on plant performance and the bottom line. Six Sigma and Lean practitioners, are right to ask the challenging question…would your customer pay for this process if they had the choice?

The problem is that the scale and size of this waste and indicators of its root cause is often not available to the people who are best placed to take action. It’s as if the factory performance is hidden from them so they are unable to make the necessary improvements.

Exposing this hidden factory is the first step in improving the operational performance and profitability of the modern factory. It provides the opportunity to not only reduce labor and part-cost but also gain untapped capacity. According to Armand Feigenbaum estimated loss within the hidden factory could be as much as 40 percent of total company effort. However, engineers who are using new technology and data in their factories improved efficiency and effectiveness by 20% - 50%.

The collapse of sensor, compute and communication costs and the availability of new software application platforms is reducing the cost. Therefore, there is no need for replacing existing infrastructure as IoT sensors can be installed to monitor variety of functions, deliver machine performance data, track assets and employees on the factory floor. This disruption of discovering the hidden factory enables managers and operatives to take decisive action to improve performance.

Companies relying on the ability of their workforce to keep them capable of working successfully may be underestimating the future value of the technology,  In fact, automating only one aspect of the process may lead to any value gained in one area being lost in another. Generating real value from smart, connected manufacturing requires significant transformation to operational processes, culture and technology making it challenging to achieve value in both the short term and long term. 

What if, before taking your next step on your journey, you could see into the future and understand the opportunities and risks? What if you could know what you can achieve over the next six or twelve months—and how you can achieve it?

Join us for "IoT: Exposing the hidden Factory" to explore how new technologies enable companies to expose these Hidden Factories and capture the savings. We will be joined by a collection of PTC and InVMA’s customers who are using the technology to drive improvements in their organizations and with their own customers.

Held at the Advanced Manufacturing Centre Factory 2050 building, Sheffield the UK, you will meet the leadership from companies who have started this journey, discuss how it will be applicable in your organisation with them and think of options which will be helpful. You will also have a tour of the Factory 2050 with PTC and see some of the technology that can be deployed there.

 

Unleashing the Smart Factory

Learn how to tear down the innovation barriers and move towards innovation platforms. Read this whitepaper to find out everything you need to know to begin your own Industry 4.0 journey.

Required
Required
Top