Manufacturers embrace data and AI to drive action
The needs of the manufacturing industry have been constantly evolving, and the companies that are achieving the greatest success are the ones that view these ever-changing circumstances as opportunities to innovate.
Embracing new technology is the key to navigating paradigm shifts. By using unified data models, building agile factories, and innovating the supply chain with AI, companies can meet consumer demand and manage their supply chains more efficiently. Leaders who implement these strategies are staying ahead of the competition.
In this set of videos, industry experts share their thoughts on current trends in manufacturing.
Optimizing the supply chain from the factory floor to the boardroom
The events of the last three years have caused manufacturers to reevaluate nearly every aspect of their industry. Resilient supply chains have become vital.
However, only a small percentage of companies actively design their supply chains. Most have multiple unsynchronized planning systems that keep them from realizing their full potential. By designing and synchronizing supply chains, companies can better control costs, reduce waste, and improve customer satisfaction.
Planning efficient manufacturing also means accounting for data from every touch point and stage of production. That way, companies can better translate their designs into actionable plans and optimize resource management through unified data models.
As companies adapt to the new normal, they’re replacing rigid mass production with agile manufacturing and sustainable practices.
Building agile factories through smart manufacturing
Whereas traditional manufacturing focused on driving efficiencies in single processes, modern manufacturing requires an agile system that can effectively handle multiple processes end to end. Manufacturers need to be able to go to market quickly, and for that, they need access to impactful data.
“We can have all this data, but that doesn’t mean it’s actionable,” says Jake Hall, an industry leader known as the Manufacturing Millennial. Data becomes valuable when organizations build out the tools and knowledge needed to turn information into impact.
In many cases, achieving this involves a digital transformation that helps businesses take full advantage of the latest technology and their own data.
Companies that take multifaceted approaches to digital transformation are seeing the biggest results. For example, businesses can use smart manufacturing systems to collect and analyze data, gaining powerful insights into areas of efficiency as well as friction points.
When that real-time information meets trained employees who have the skills to act on it, businesses unlock the power of agile manufacturing.
The agile factory of the future uses the industrial Internet of Things, the cloud, AI, and other smart manufacturing technologies. And Hall believes it’s imperative that companies adopt these tools to make the most of the resources that they have.
Tune in to the full conversation with Jake Hall in this video for more on smart manufacturing and how data impacts factory management.
Audio description version: https://youtu.be/muwS-0LnlFs
Innovating supply chain management with AI
As AI functionality expands, its potential applications in manufacturing are growing exponentially. Companies are already finding that AI can improve their supply chain efficiency by analyzing vast amounts of data and identifying opportunities for improvement.
Eventually, AI pattern recognition will help businesses move beyond traditional functional processes and respond to outside market signals, becoming more proactive, resilient, and profitable.
Lora Cecere, founder of Supply Chain Insights, believes that AI is invaluable for these purposes. “The ability to look at deeper insights and to sense and drive proactive responses is starting to be a great asset in pattern recognition for channel data and supplier data,” says Cecere.
With the industry currently experiencing a period of redefinition, many companies are realizing that they need to look at information from various channels to respond proactively to fluctuating economic conditions.
Check out the conversation with Lora Cecere to understand how AI and unified data models can help drive businesses forward.
Audio description version: https://youtu.be/6S336etq568
Creating efficiency with cloud solutions
Manufacturers can use these new tools to optimize available resources in 2023 and beyond. By using the latest digital resources, they can strengthen their operations, allowing them to respond quickly to changing market demands, minimize downtime, and improve efficiency.
The challenges of recent years will inspire innovations that make manufacturing more resilient and sustainable. By bringing together operational visibility, data integration, and digital collaboration, cloud solutions have an important part to play in that transformation.
“We’re on the cusp of a new world of technologies that will revolutionize supply chain management,” says Cecere. “It’s an exciting time to be in the industry.”
Discover how technology delivered within the Microsoft Cloud for Manufacturing can help your organization.
