How Digitization is Transforming Manufacturing Industry

Digitization holds the key to unlocking massive scale and growth potential in various business sectors. Be it manufacturing, hospitality, banking and insurance service, smart technologies, and connected devices drive innovation and optimization in these sectors. Driven by the power of cloud computing, data science, AI, Machine Learning, IoT, SaaS, industry 4.0 continues to gain speed to evolving to meet new challenges and customers’ expectations. With the digitization of manufacturing, clay models have been transformed into CAD files, spreadsheets into excel, typewriters into Google Docs, and mails into email, rapidly changing the manufacturing industry.

Here are some of the important ways in which digitization has transformed the manufacturing industries:-

1. Scales up Productivity and Efficiency Digitization enhances the efficiency from the design to the production, review, and testing leading to increased production and saving time. With the efficient product design process, mobilization, and connectedness of various units and departments for seamless and quick transfer of data, designing and production will be optimized, and manufacturers will meet deadlines soon to fulfill the market requirements. It will speed up the design and production process and lead to innovation that will enhance the quality of the products.

2. Simplifies Process and Optimize Existing Designs Be it realizing the goal of Industry 4.0 or Smart manufacturing, the Internet of Things promises a revolutionary change in the manufacturing landscape, taking it to a new level of customized mass-scale production. Production tools like actuators, robots, 3D printers and CNC machines, industrial products like vehicles, gas turbines, radiological equipment, and others are equipped with sensors that facilitate real-time data flow and monitor them round-the-clock. With real-time feedback and alerts, IoT streamlines and simplifies various manufacturing operations, minimizing wastage and optimizing value.

3. Enhance Coordination among Trade Units To Create Global Value Chain With quick and seamless data transfer across networks, efficient design, fabrication, and production of products and integrated IT systems, digitization enhances coordination among business units creating an efficient supply chain globally. It brings clarity and makes it easier to enforce processes and ensure compliance with the safety regulations. More and more companies are using IoT-led and AI-enabled technologies that help them reduce downtime, predict customer behavior and address any issues in real-time. It drives efficiency and productivity and helps in seamless coordination.

4. Drive Innovation through Rapid Product Iteration Rapid iteration, increased productivity, and getting real-time feedback about products will drive innovation. Digitization will flatten silos, enhance network connectivity and promote efficient sharing of knowledge and data across various divisions, units, and organizations. It will facilitate easy adoption of innovative trends and new-age technologies, enabling manufacturing industries to meet consumer demands like never before.

5. Quicker Turnarounds and Providing Value-Added Products Digitization will speed up production, minimize waste, lower cost, and enable industries to produce customized products on a mass-scale, thereby efficiently meeting customer demand.

It enables companies to leverage the power of cloud computing, IoT-enabled devices, robotics, and efficient cyber-physical systems that will transform every facet of manufacturing industries. However, to realize this, enterprises, governments, and organizations need to meet the challenges of upskilling and reskilling to use AI, machine learning, and IoT to tap their potential and gain huge benefits.