It’s always great to read about the benefits and justification of automation and Industry 4.0
In an article on Industry Week, Ethan Karp, President of US Manufacturing and Growth Network MAGNET, an Ohio Manufacturing Extension Partnership, makes the following points:
❔ What are the benefits of Industry 4.0 for small and medium-sized manufacturers?
? The simple answer, over the long haul, is that putting Industry 4.0 technologies into play will save money and increase efficiency.
❔ How can I know my investment will be worth it?
? “it is not uncommon to see 30 to 50% reductions in machine downtime, 10 to 30% increases in throughput, 15 to 30% improvements in labour productivity and 85% in accurate forecasting. Six months into the pandemic, 94% of manufacturers said Industry 4.0 had helped keep their operations up and running” – McKinsey & Company
❔ What’s the first step toward getting started with Industry 4.0?
? Organisations and business support networks can provide invaluable advice and guidance.
? How we do it
We explore ways of saving money and streamlining production to ensure efficiency, even during an initial discovery call. Our designers then present a CAD model visualisation of your current production line to show you how much can be sped up, space utilised and output increased.
❔ How much does it cost to implement Industry 4.0 technologies?
? Start by installing sensors to make your manufacturing operation trackable, and you may spend just a few thousand dollars while giving yourself access to analytics that will take money off your expense line.
❔ How long will it take for those benefits to kick in?
? Some technologies will show results almost immediately. For others, it takes a bit of time to reach maturity and capture the benefits. When it comes to monitoring real-time data, for instance, the initial return on investment will come quickly.
We appreciate the need to work with manufacturers, in all industries, to design lines that incorporate sensors, single machines and add a few conveyors before completely replacing a full processing line.