In the COVID-19 lockdowns, the business executives in manufacturing and mechanical engineering industries realize more than ever the significance of automation and supply chain digitalization. The pandemic brought enormous disruptions across all business processes and manufacturing operations.
„The increase in M2M connections and advances in technology provide new opportunities to extend the value of machine data. As machine connectivity continues to increase, organizations look for new ways to gather actionable insights from their data. New technologies that make it easier to capture and process M2M data have created huge opportunities for manufacturers to streamline their overall operations, increase efficiencies and reduce costs.“ (Source: www.manufacturing.net)
Supply chain control, visibility and real-time data will become crucial to retain business continuity, customer loyalty and sustainable development.
The results of a MPI Group‘s study of 350 manufacturers show that
- 76% of manufacturers will increase their use of smart devices or embedded intelligence into manufacturing processes in the next two years.
- The majority of manufacturers are planning to embed smart devices in their products with increasing revenue from new products and market share (both 39%) being the most perasive objective.
„The true value of M2M is about more than just gathering the sensor data from individual machines; it’s about connecting that sensor data with other sources and empowering business users to gain visual insight into the data so they can react to changing conditions that impact the business as they happen.“ (Source: www.manufacturing.net)
The market winning strategy for manufacturing and engineering industries is to focus on implementation of technologies allowing for real-time data gathering and integration with enterprise applications across entire supply-chain.