WHY an investment has a advantage over

WHY SMART FACTORY IS NEEDED NOW?We all know automation has be around for so long but, why all of sudden, investors are interested in smart factory. It’s because of the advantages its provide than traditional one• Provides competitive edge over competitors.• Improves supply-chain network. • Decentralization control of production• Capacity to provide cutting edge product design.• Integration of shop floor network to management.Competitive edge over competitors Smart factories has always been a dream for many companies due to mass data storage, network bandwidth cost, computing power, artificial intelligence, machine self awareness, etc. the wait is over due to recent developments and reduction in prices. Its has become a reality where companies has invested in smart factory and those who has made an investment has a advantage over competitors in these areas which will eventually improve company profit.Improves supply-chain networkSince globalization has become a key factor for trading and purchasing of products, companies has found a way to reduce the cost of products by shifting manufacturing plant into host country/concern continent .These shifts are integrated with demand from the local, international customers, low labour cost, resources  and supply chain . Due to these changes companies has found a solutions to logistics, reactiveness and agile.Capacity to provide cutting edge product design.Its goes by saying “no two products are same”, this goes same for the customers who are interested in one type of product while others are interested in another type of product. For this very same reason there exists modular machines, these machines are popular because they share same structure but with little tweaks new type of setup can be produced  which will in turn help new product (we don’t have to build machine from scratch ). In smart factory, machine learning can decide which type of setup is needed for what type of product, so the final product is build faster than the conventional method.Integration of shop floor network to management.One of the tedious jobs is integration of shop floor to management. This procedure is like a lifeline of the whole factory. It provided a hustle free communication from workers to the top management.  Factory is not just made up of white collar employee but there also exists both skilled and unskilled labours who keep production running. So this is vital communication for smooth operation.Benefits of the smart factory Smart factory program should orient itself toward the company goals. It addresses wide range of categories such as Energy efficiency, quality, material, labour and maintenance costs, safety. These categories, among others, may increase benefits to the company such as low product ordering times, increased market share, and better profitability, product quality, and labour force stability. Regardless of whether, it’s the ability to demonstrate how successful the smart factory is going to be if investments are made and creating confidence in investors for future investments.Energy efficiency Smart factory generates tons of data that needs to be continuously monitored and evaluated, so that if a problem arises in some areas of manufacturing then it can be rectified quickly with minimal downtime. The benefits of this type of factory is that it has the capacity to self diagnostic when problem arise which is one of the most prominent benefits of a smart factory. Energy efficiency should translate into lower machine downtime, capacity, reduced setup time, etcQualityThe self-diagnostics feature of the smart factory can predict when there is going to be a defect and can help identifying the source of it. It can be either in machine, workers or environment. This could help in lower defects and improve lead times, replenishment times, process times and increase product quality.Material, labour and maintenance costs Traditional manufacturing companies have a hard time in maintaining material, labour and maintenance cost due to in effective planning and decision making. Optimized factory leads to predictive inventory replenishment, better hiring process and quality maintenance. This can be achieved by integrating all services right from machine, inventory and workers to a global network. Better integration leads to better quality product which will eventually lower other variable cost.Safety Smart factory has a greater impact on labour wellness and environmental safety. Since everything is digitized or autonomous the amount of human error is minimal and can advert accidents across plant, and carbon footprint on environment is low compared to traditional factory, which overall increases safety of both humans and environment. Smart factory certainly replaces major of works where humans find repetitive and dangerous. However, the role of the human worker in a smart factory is not completely eliminated, smart factory opens door for new opportunities in maintaining IT sides and so.

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