Posted by Manisha Jangwal | Last Updated: 21-Feb-18
Since the technologies like Machine learning and AI have emerged in the market, manufacturing industries are now being managed by smart machines. Machine learning integration into the manufacturing operations can make its processes more efficient. Companies can become competitive by predictive analytics. Besides, machine learning algorithms solve intricate problems faced by manufacturing firms. Today, these firms are heading towards smart factories. Most of the operations are dealt with machines and these require human intervention. Thus, these can be controlled by the Machine learning enabled systems. At every stage of production, it brings predictive accuracy. Machine learning algorithms are very fast to give optimized outcomes for manufacturing.
The main aim is to optimize the manufacturing supply chain and making more intelligent decisions.
Increase in production by 25% and lowers material cost by 4%
Predictive data analytics and machine learning help smart manufacturing systems to boost production rates at the production cell, machines, and plant levels. It reduces costs of raw materials and provides security for the brand quality.
Better insights are given by machine learning for teams to manage factory restraint
Integration of various IT systems is necessary for manufacturing units where teams need to share the operational processes. If it is lacking, the team is unable to achieve shared goals. Thus, machine learning unfolds insights that help the professionals to succeed in accomplishing their goals of optimizing production workflows, Work In Process (WIP), inventory, and value chain decisions.
You may also read: How Machine Learning Can Help Fix Your Low Quality GIFs
Get greater accuracy in production, price rates, sales and services forecasts
Machine learning provides manufacturers demand figures about their product. So, it will let you figure out what you should do either increase the price or drop the price. One example we have, Machine learning apps one revealed that overall demand was flat, and reduction in price would have no effect on selling more. Then, Increase in prices and augmenting services resulted in more sales and margins.
Enhance production yields by optimizing team, machine.
Manufacturers are now adopting more complex, customized products to make use of more of their production capacity. So, machine learning software is used to optimize the best possible selection of machines, trained staffs, and suppliers.