In the last few years, many asset-intensive organizations, particularly in the mining, power and utilities, oil and gas, and chemicals industries, have turned to industrial Internet of Things (IIoT) and cognitive technologies to help improve a critical area of their business: equipment reliability.1 Asset performance management (APM) programs, which connect data and trigger actions via systems across the business, can play a major part in driving these improvements. According to a 2018 Deloitte survey, oil and gas leaders rated the big data derived from programs such as APM as the most likely to provide the greatest business value.2 However, when asked about how digital technology can be used most effectively within their companies, those same executives ranked APM below both cost reduction in maintenance and operations as well as improvements in safety.3 This seems to reveal a pervasive and narrow view of APM that may miss the connection between asset performance, broader maintenance and operations improvements, and safety. Merely implementing APM software and digitizing existing processes is not likely to improve core operations and obtain the financial results that executive leaders desire (and investors demand).
In the past few years, advanced industrial companies have made solid progress in improving productivity along the manufacturing value chain. In the US, for instance, the productivity of industrial workers has increased by 47 percent over the past 20 years. But the traditional levers that have driven these gains, such as lean operations, Six Sigma, and total quality management, are starting to run out of steam, and the incremental benefits they deliver are declining. As a result, leading companies are now looking to disruptive technologies for their next horizon of performance improvement. Many are starting to experiment with technologies such as machine-to-machine digital connectivity (the Industrial Internet of Things, or IIoT), artificial intelligence (AI), machine learning, advanced automation, robotics, and additive manufacturing.
Are you giving your field service management (FSM) staff what they deserve? Safety, efficiency, productivity – it's what we all want for our field service technicians. Safer practices, real-time weather feeds, optimized routes, access to supply systems, automation. Mobility and analytics are at the heart of each of these aspirations and will continue to drive significant productivity gains, improve worker effectiveness and safety, and eliminate errors by capturing data directly from the work source, while integrating real-time data input from the cloud. How quickly you adopt mobility and new innovations into your FSM practices will define your organization's ability to stay ahead of the competition.
Artificial Intelligence is benefiting to various industries including healthcare, education and manufacturing. But what is Artificial intelligence (AI)? In Layman language, a simulator of human intelligence, which makes the decision after analyzing various data utilizing a collection of different intelligent technologies including machine and deep learning, analytics and computer vision. The fourth industrial revolution is employing AI to enhance its overall efficiency. The technology is not only helping to reduce manufacturing cost as well as it is improving productivity and quality. Manufacturing is a capital-intensive process, and once a plant is a set-up, replacing, removing or renovating is exorbitantly expensive. New machines improve performance; reduce redundancies, while improving overall quality metrics. AI is proving an alternative route to achieve all this and at extremely competitive price points. Instead of now replacing machines, manufacturers are adding AI/ML tools to pre-inspect raw materials identify defects, perform quality evaluations, and a lot more.
Many companies across industries are feeling the pressure of rising customer expectations for speed, customization, and more1--and looking to their supply chains to meet the new demand. The problem: Most leaders know far less about what's going on than they would like. Deloitte's Global chief procurement officer study 2018 found that only 6 percent of organizations have full visibility into their supply chain, and 65 percent of organizations have poor or no visibility beyond their tier-1 suppliers.2 To shed some light on supply chains, transportation providers seem to be embracing Internet of Things (IoT) technologies. The goal is visibility as well as agility--the ability to quickly respond to demand--while ensuring regulatory compliance.