Companies in our industry are more conscious everyday about their need to digitally transform. However, they are facing the challenge of how it is to be adopted in their organization.
Article by Juan José Colás, Chief sales and Marketing Officer
The same questions are present: Is my company ready and sufficiently mature to make the necessary changes for digital transformation? What are the initial barriers and challenges we will face? Will we access quality data and will these data allow us to identify patterns that lead to better decision-making?
According to a report from Forbes Insights and consulting firm Ernst & Young, based on feedback from 1,500 executives from large corporations worldwide, 66% of companies with a well-defined analytics strategy improve their operation margins and profits by more than 15%.
Regardless of the degree of digitalization of a plant, it is imperative to have data on each of its processes to have a clear vision that enables better decision-making.
For the data to be useful, it will be necessary to count on a well-defined selection criterion and quality data. Data Analytics will then be critical to enable future-looking decision-making processes.
In this process, aided by specific software and other technology tools, management will be able to make the best decisions at all times in terms of production schedules, maintenance, processes, inventory management, and prevention of potential scenarios that could delay production and hence correct these issues.
There is no excuse for our industry, and every company in it, not to adopt the digital transformation and take a step forward.
Since its founding in 1995, OC Fab Ltd. (OCFab) has grown from a small subcontractor to one of Manitoba’s leading fabrication companies for the agriculture industry.
In today’s competitive manufacturing landscape, businesses that can leverage data to drive insights and decision-making have a clear advantage. Data-driven smart manufacturing is the use of data and analytics to improve all aspects of the manufacturing process, from product design and development to production and quality control.
