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Top 5 Ways Manufacturers Should be Using Their Data

If you’re already collecting data in your organization, great! However, if you’re collecting data, and dropping it into a repository where it’s never seen again, what’s the point?

There are many great articles written on how companies should use their data, but manufacturers are quite different than retailers, or service providers, of any business that deal directly with the end user customer of their product. According to a recent article in Forbes, the common Top 5 ways to leverage data for those kinds of companies is:

  1. Make more informed decisions
  2. Understand customers, and market trends
  3. Provide smarter products and services
  4. Improve internal operations
  5. Create additional revenue opportunities

For many manufacturing plants however – those that don’t design the products they build or sell to the end customer as those functions and responsibilities belong to their customers – some of the above don’t apply ‘directly’. In the case of point 2, “Understand customers and market trends”, for many factories it would be more important to understand their workforce and the trends within the work force. Most companies in this category would not get a chance to create additional revenue opportunities, but they could use data to drive operator engagement on the plant floor, by modifying behavior, and thus creating more production capacity (i.e. revenue), or decreased cost, which creates additional earning, or improves competitiveness, which may lead to more business.

Our Top 5 list for Manufacturers would be:

  1. Make more informed decisions
  2. Understand your current workforce, and future trends to attract the best
  3. Make quicker decisions to prevent adding value to waste
  4. Improve internal operations (Lean, CI, digitization of documents etc.)
  5. Put data into action in real time to modify behavior engage workers

Arguably the most important of these 5 however, is making more informed, data-driven decisionsRandy Bean, and Thomas Davenport of the Harvard Business Review state:

“Analytical decisions and actions continue to be generally superior to those based on intuition and experience.”

There are many business cases that support this assertion, and manufacturers serve as an excellent example. Since the advent of industry 4.0, it’s become easier than ever to obtain performance metrics from manufacturing equipment. However, simply generating data in a manufacturing environment does not improve efficiency or productivity. Rather, it’s how manufacturers use their data that enables improvement. By monitoring their machine data, communicating more effectively with their operators, and scheduling dynamically, manufacturers can identify and address process bottlenecks, eliminate wasted time, material or energy, and greatly improving their overall production. This this allows manufacturers to produce more with the same amount of resources – directly benefiting the bottom line.

FreePoint Technologies CEO Paul Hogendoorn

Paul Hogendoorn
Founder
FreePoint Technologies Inc.

Ontario’s Automotive Modernization Program: Why You Should Care

Ontario’s automotive sector has always played a crucial role in the Canadian economy. With over 100,000 auto-related jobs across the province, investing in the sustainability and advancement of the auto industry is vitally important – which is why we are excited about Ontario’s next round of applications for the  Automotive Modernization Program (O-AMP) open until October 7th, 2020.

Aimed at helping Manufacturers adopt new technologies quickly, the new program provides eligible manufacturers with a grant up to $100,000 to support purchases and projects that fall under one or both of these two categories:

  • Technology Adoption
  • Lean Manufacturing

This program has made emerging technologies significantly more attainable for manufacturers considering a digital transformation. You can now reap the benefits of Industry 4.0 for a fraction of the cost by implementing any of our advanced manufacturing solutions. Whether you are looking to use machine monitoring, downtime tracking, or a customizable API – you could be eligible for a grant up to $100,000 . With our state-of-the-art data visualization software and extensive suite of machine monitoring solutions, you can begin your digital transformation while maintaining eligibility for government funding.

What gets measured gets improved”. Our IIoT solutions help you measure everything you need to measure to improve, including establishing an empirical baseline for where you are today. Our visualization tools will drive productivity improvements right away, and our reporting tools will help you identify the things that need to be done to get even better. If you have been considering a FreePoint system in your plant, there has never been a better time, so reach out to us today!

 

Check out the following links for additional information:

www.ontario.ca/page/ontario-automotive-modernization-program#section-2

APMA – Applications open for the Ontario Automotive Modernization Program (O-AMP)

www.cbc.ca/news/canada/windsor/vic-fedeli-announces-10-million-automotive-sector-modernization-program-1.5277165

www.ontario.ca/page/driving-prosperity-future-ontarios-automotive-sector

Why Manufacturers Need to Automate Data Collection

The speed and volume of data collection is rapidly increasing. This makes it overwhelming for manufacturers to determine how best to leverage the metrics at their disposal.

mac computers and ipad with freepoint technologies and shiftworx freepoint technologies

A recent study found just under half (48%) of manufacturers still use spreadsheets or other manual entry documents to keep track of their data, which explains why less than 40% of manufacturers use data analysis to solve production issues. If data was being collected automatically as opposed to manually, it would be easier to collect, analyze, and act on.

The study also found that 76% of respondents said in order to immediately act on collected data, they require “software solutions that analyze data in real-time”. By leveraging automation and industry 4.0 solutions, manufacturers can reap benefits ranging from increased efficiency to lowered costs and lower risk of error.

Enhancing Efficiency

Machine monitoring allows you to obtain real-time automated data that will not only improve your collection process, but also increase response time to any issues that may arise. Don’t wait for the weekly or daily data report to find out days after-the-fact that something went wrong. Automatic alerts can be set up to let you know the second a machine goes down, and in some cases, before it happens.

Data Accuracy

By automating your data-collection with industry 4.0 technologies, you also greatly increase the accuracy of your data. Multi-tasking workers, managers putting out fires, or an inexperienced employee don’t impact the quality of the data being recorded if the data is being recorded automatically – greatly mitigating the potential for human error.

Cutting Costs

Real-time data collection doesn’t just impact efficiency and production, it also impacts profitability and costs. Though it may seem like a small change, eliminating manual data-entry significantly decreases the paper-trail that comes along with printing excel spreadsheets or filling out data-tracking forms.

In our experience, the transparency gained through automation and real-time visibility has a significant impact on manufacturing costs. By leveraging the insights gained from their real-time data, a client of ours was able to save roughly $325 a day without hiring more employees or buying new equipment—a powerful incentive for those considering automation and industry 4.0.

Unlock Your Factory’s Potential Today with Real-Time Data

Overall, real-time data collection gives you a level of transparency and control over your process that would be impossible to achieve without automation. You will be able to improve performance, production and profitability just by implementing one vital, but very attainable change to your process.

If you are ready to enhance the efficiency of your factory, reach out today to book your free demonstration and get yourself started on the path of Industry 4.0!

7 Ways IIoT Solutions Are Driving Manufacturing Success

Manufacturers and industrialists in every sector are on the threshold of significant change. Industry 4.0 is the newest industrial revolution. It represents the use of Industrial Internet of Things (IIoT), automation, sensor technology, and other innovative solutions to streamline the production and distribution process.

IIoT solutions not only monitor but also automate many of the complex processes involved in manufacturing. While systems have been created in the past that track production progress, IIoT technology focuses on providing in-depth details to managers and staff. Here are seven compelling ways IIoT is transforming the industry today.

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FreePoint Presents: The Microsoft Dynamics Solid Gold Event

FreePoint Technologies is excited to be presenting at the fall Vox ISM seminar in Mississauga at Microsoft Canada HQ.

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