A one-of-a-kind upheaval. The unthinkable happened at COVID 19. During the pandemic, the manufacturing sector has been the hardest hit. Factories were shuttered, supply systems were congested, and product development was halted. More than 80% of manufacturers in the United States are concerned about negative financial consequences, while 53% are concerned about operational disruption. How can we make manufacturing more agile, robust, predictive, efficient, and autonomous in the future?

Data silos, a lack of real-time visibility, and a reactive approach all impede efficiency.

A huge percentage of manufacturing units rely on outdated equipment, which results in 45 percent of unplanned downtime. Factory operations are disturbed because asset health is not assessed on a regular basis. Equipment maintenance becomes a huge concern, and 80 percent of the time, production managers and manufacturing workers are repairing problems after they have occurred. Because of their limited ability to prevent and handle accidents, one out of every three manufacturers spends more than 10% of their operational budget on maintenance alone. The lack of visibility into plant health, operating processes, and floor level performance at the enterprise level is hampered by segregated data and timely access to relevant reports. This creates a vulnerable environment, making it difficult to meet safety and regulatory compliance standards. As a result, productivity and performance fall short of expectations, negatively damaging the bottom line.

Digital Next Manufacturing Powered by Intelligence Speeds Up Growth and Improves Outcomes

With enhanced technology adoption, the manufacturing industry has the opportunity to reimagine its production and supply chain, augment its workforce, and generate deeper connections with its consumers. A digital enterprise's strength is defined by its capacity to harmonize, evaluate, and produce real-time insights from diverse data streams. It's no surprise that more than half of firms want to invest in developing Big Data skills.

AI-based advanced planning and automation in the supply chain and operations improve the ability to anticipate issues, identify operational challenges, and respond with agility and speed. This eliminates a vulnerability in systems and improves asset health by over 40%, saving massive maintenance costs and lowering unplanned downtime by nearly 50%.

Companies enhance their bottom line by cutting operating costs by 5-10% and increasing earnings by up to 10%. The benefits are clear; the question is how manufacturers can speed up their transition to the digital future.

Intelligence Platforms for Manufacturing

We offer Factory, Supply Chain, and Product Intelligence as part of our manufacturing intelligence platforms to help manufacturers construct digital next manufacturing organizations that are cost-effective, high-performing, and lucrative. We can collaborate with you to explore use cases, assess readiness with a discovery workshop, and demonstrate value with a pilot MVP for a use case in three months.

With Platforms of Intelligence, ITC Infotech has been assisting manufacturers in streamlining processes and gaining a competitive advantage. Our knowledge and experience in CPG and manufacturing stem from our parent company, ITC. We combine the benefits of the cloud, big data, advanced analytics, AI/ML, and augmented reality on a single platform, speeding up the road toward a fully connected ecosystem. Microsoft, PTC ThingWorx, Anaplan, and Salesforce are some of our strategic partners.