The manufacturing industry has a history of being changed and reinvented by technological advances in process and communications. Now, new solutions that use artificial intelligence (AI), blockchain, and the Internet of Things (IoT) are being leveraged by the leading and fastest growing companies in the industry to transform the manufacturing supply chain and related transport and logistics. Reliance on paper forms and the clashing of disparate systems can give way to better transparency across the value chain to help reduce, mitigate, and even eliminate, transport mistakes and delays.
In our global economy, disruptions in logistics—whether upstream supply chain or downstream delivery—can be detrimental to a business. Delayed part shipments can wreak havoc on manufacturing plans, and have ramifications that reverberate down to the customer and across product lines. Errors in the logistics networks, equipment failures, parts shortages, customs delays at ports or border crossings, inclement weather, and even political disruptions can cause a domino effect across the factory floor, possibly affecting an entire business ecosystem.
Thanks to an advanced, artificial intelligence (AI)-backed supply chain control tower, the manufacturer noted above was notified of the possibility of the shipment delay the day before, and was able to initiate a resolution, allowing the company to get ahead of the disruption.But it took diligence and trust in a new technology to create a better system.
By now, most companies in the industrial space are aware that information from their process and operations can help guard against failures, and make production more efficient. For example, Frost & Sullivan estimates that, on average, 35 percent of global automotive plants will be “smart factories” by 20252—meaning that automotive OEMs will need to spend 8 to 10 percent of their revenues on these new or upgraded facilities
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