Advantages of becoming a Factory 4.0 with Lantek
No fewer than 90 per cent of companies lack a digital strategy. According to a report by the renowned German strategic consulting firm, Roland Berger, today however, these barriers can and should be saved, especially now that the fourth industrial revolution is here.
No fewer than 90 per cent of companies lack a digital strategy. According to a report by the renowned German strategic consulting firm, Roland Berger, today however, these barriers can and should be saved, especially now that the fourth industrial revolution is here. It is unstoppable and there is no turning back. If you resist change you will be out of the market.
So, reducing that gap is everyone’s job and implies gaining in competitiveness and productivity, and therefore in income and growth capacity. Let’s work together to ensure Spain is less dependent on services and transform the industry to underpin the country’s development.
Before the advantages of this process in any industrial plant are detailed, do you know what this digital transformation is all about? It is the comprehensive connection of machinery, parts and processes with other players and with the customer. This connectivity will show the demand and the needs of production and power in real time, so that decisions can be made faster. Companies can get better performance from their plants and, consequently, save.
Having said that, these are the benefits of applying disruptive innovations in your factory:
Optimise production: Through sensorization, advanced analytics and data management, artificial intelligence and the Internet of Things, connection of processes can be taken to another level. A software program processes data in real time and provides information about orders, stock and machine availability with a predictive capability that reduces errors, shortens deadlines and facilitates decision making. This is synonymous with cost reduction. A saving - that the aforementioned Roland Berger report (sponsored by Siemens) - quantifies at between 10 per cent and 20 per cent.
Loyalty: Beyond production, digitalization has a double positive impact on your audience. On the one hand, it facilitates communication with customers, order customisation and fast delivery; on the other, it improves your company’s image and increases visibility.
Talent: Today’s workers are no longer loyal to a company. They do not mind moving. They want new experiences that allow them to grow professionally. They are also digital natives. They value well-being, labor flexibility and training possibilities. Because this fourth industrial revolution demands continuous learning to adapt to the new positions that arise with digitalization that acts as a magnet to retain and attract talent.
As mentioned at the beginning, if the added value generated by all these disruptive changes is added, your company will grow. According to the CEOE, digitised companies are 10 per cent more productive, export double and double the creation of employment.
Although access to technology is now democratised and its cost is no longer high, it is increasingly important to seek reliable partners to offer a more comprehensive and complete service. Regardless of the size of your company, you need collaborators to develop and implement the technology needed to tackle digital transformation. Knowing how to choose the right partner or partners is crucial. This is one of the great challenges, which also demands a cultural and organisational change.
Do not therefore let the Industry 4.0 train escape - get help from those who have already climbed aboard and have the experience to make sure your plant is not out of the game. In a world where tourism, telecommunications and banking are already experiencing a real digital revolution, and where only those who adapt will win, it is now up to the industry to take a step forward. If you want to achieve it, one can contact Lantek.
Any factory can become a Smart Factory
Smart Manufacturing, Digital Manufacturing, Advanced Manufacturing or Industry 4.0; whichever term you have heard it called, we can agree it is the talk of the town. The catchy terms and constant spotlight may make it seem out of reach for smaller shops. That could not be further from the truth.
Rapid advancements in technology have led to a decrease in prices across the board. These advancements have helped drive initiatives that all manufacturers can adopt to become more digital – regardless of size. Many of the case studies published are from large manufacturers which make these technologies seem out of reach for smaller shops.
Case studies written about successful Industry 4.0 implementation in large companies showcase the expansive scope these initiatives have when it comes to cost savings and profit gains. While these big numbers make large companies feel warm and fuzzy inside, it may taint the view from smaller companies. Those looking into new technologies may think these advanced solutions are out of their budget. That is the furthest thing from the truth.
Using BI to boost profits
By taking the proper steps and thoroughly planning the best implementation schedule, any size shop can afford solutions for more efficient operation. After all, the purpose of business intelligence (BI) solutions are to save money while boosting profits.
It’s hard not to look at the initial price tag and think it is costly. However, this as an investment in the future of your company. Not only will these solutions help win more contracts and increase profits, they provide manufacturing analytics for continual improvement. Like buying a house, purchasing software to become a Smart Factory is a long-term investment that will save you money and build equity in your company.
Tax reform for manufacturing can give you an edge
Lastly, the recent tax reform offers manufacturers higher deductions for investing in new technologies, from software to machines. With a higher deduction threshold than years past, it is worth exploring how you can leverage the recent changes to the tax law to expand operations.
Next time you hear or read about the digital transformation for manufacturers, don’t count yourself down and out. There are always new and affordable opportunities for shops to digitise and thrive in today’s marketplace.
How to begin the smart factory process
Lantek has worked with manufacturers of all sizes on the path to digital transformation. We know how to help you plan and begin the process - one step at a time. With over 30 years of experience in sheet metal solutions, we are ready for you to contact us today.
Article by Kevin Must, Marketing Lantek USA
(Communication provided by the management of the company)