How to create a smart factory?

Customers are using smart gadgets in their day-to-day lives and their demands are becoming smarter and more specific. The manufacturing industry thrives on the concept of supply and demand. In order to cater to changing demands, businesses need to be smarter and their techniques have to be modified in line with current digitalization trends such as digital manufacturing and the Internet of things (IoT). The need of today is to have a smart factory.

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The 5 challenges of data driven manufacturing

Based on the applications for big data and analytics, the Internet of Things (IoT) is all set to create the next generation of manufacturing. IoT can reduce costs and improve productivity across an entire supply chain, optimize distribution, and bring about new types of after-sales service. A data-driven organization will not only streamline its manufacturing operations, but it can forecast or quickly resolve any issues affecting plant performance or customer satisfaction. To become a data driven manufacturing business, an organization must understand some underlying challenges.

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