We are fast-moving in the fifth Industrial Revolution where technologies and trends are changing the way we live and work. It is the transformation of physical and advanced digital technologies and innovations such as Machine Learning, Artificial Intelligence, and Internet-of-things. These modifications are not only changing the way we deal with the concept and computers but also, modifying the manufacturing sector.
Increasing demand for customized and cheap products at affordable rates has been the main driving force towards the need for machine learning in manufacturing industry. According to a report, it is estimated that machine learning services in manufacturing will decrease supply chain forecasting errors by 60% and reduce sales around by 65% with better product quality and availability.
The following points of technologies are bringing change in the manufacturing sector in machine learning:
Predictive Maintenance for Reducing Costs
Manufacturer’s adoption of Machine Learning and data to improve predictive maintenance is estimated to increase by 48% in the next five to six years. Manufacturing Companies around the world are trying to reduce the equipment downtime using various artificial intelligence technologies. With the help of cognitive artificial intelligence, smart sensor technique, and an interconnected network of machines and gadgets, the manufacturers can also monitor the devices on the ground. In return, the constant monitoring will allow ground managers to generate productive analytics which will further help in preventing certain equipment failures in manufacturing industries. The most important fact remains that maintenance should be performed and regulated at a scheduled point in time when the activity or the task is most cost-effective and efficient before the equipment loses performance and work within a threshold or a permissible limit.
Monitoring and Quality Control for Improved Supply Chain
Use of Artificial Intelligence and Machine Learning will modify all particular areas of the supply chain including transportation, logistics, manufacturing, packaging and user service. Data studied from different sources available thereby, helping in adapting to transform market situations easily. Rather than depending on manual quality checks, artificial intelligence can help in identifying the particular defects with perfect efficiency and accuracy based on the past data of defects and errors.
Optimization in the process
When a process is to be optimized, it is very essential to maximize one or more of the process specifications while keeping all other conditions the same as before. By using Machine Learning, it is possible to optimize the best possible set of machine learning programs for production and provide real-time insights for machine-level loads and production performance according to the particular schedule.
It is possible to integrate artificial intelligence and Machine Learning programs with procurement and accuracy, strategic sourcing and cost-optimized areas. This will improve the accuracy of demand for forecasting and reducing energy costs for the manufacturing industry.
With all these benefits which these technologies are providing in the manufacturing sector, we can say that they are the best future of this sector and we are yet to see many more achievements of this technology in the coming future.