Machine Learning is Revolutionizing Manufacturing
Big changes for client management. One of the most significant transitions happening outside the shop floor is in the sales side of manufacturing. No longer will “relationship management” be a common term – instead, we are moving to “relationship intelligence.” The encouragement of this new technological capability is not to eliminate the sales team, however; groups like SalesforceIQ who are spearheading these initiatives simply want to create a way to strategize best tactics and keep customer priorities at the forefront.
Increased production capacity while lowering material consumption rates. Recent data from General Electric shows that IoT on the shop floor can bring production capacity up by 20% and lower consumption rates by 4%. Since smart systems are designed to learn, understand, and predict on all scale sizes from individual machines to entire plants, we could find these rates increasing even further over time.
The Manufacturing-as-a-Service model. The trend of rapidly made, highly customized products is becoming more and more of a reality. When your machines are learning as they work, templates for customized products can be saved and revisited without needing to reinvent the wheel every time a similar order comes through. The idea that small orders of unique products will waste time and money is one that has already lost its footing in our industry.
To read more of the latest developments in the Industrial Internet of Things and see how these technologies could help your company, check out this article from Louis Columbus. Every day, new applications for smart manufacturing are found and used to revolutionize our industry. See what you can do to get involved!