If your company recently adopted IoT solutions to improve the capability and functionality of its products, you’re likely already thinking ahead to the next steps: determining the value of these solutions and gauging their success.
A recent global study – After The Fall: Cost, Causes and Consequences of Unplanned Downtime* – showed the majority of companies have experienced at least one unplanned downtime outage over the past three years, costing an average $260,000 an hour across all businesses.
The Mediterranean island nation may be better known as a holiday destination, but Malta’s thriving economy is also fuelled by a mature high-value-added manufacturing sector and is now a leader in blockchain technology.
Every new revolution needs its catalysts and enablers. Liverpool helped to create the infrastructure for the first industrial revolution, with its port, roads and railways at the epicentre of international trade.
Every manufacturer that performs aftermarket service has one goal in mind: to prevent asset downtime and maximise equipment usage for their customers. So, what do the top 20% of firms do differently to the other 80%?
Whether they call it Industry 4.0 or “smart” manufacturing, experts worldwide are focused on how to extract data from intelligent machines and then analyse it to improve both their products and the processes used to create them.
Workers are the biggest assets in the evolving manufacturing industry. Today’s employees expect contemporary work environments and to be managed differently than they were in the modern era of manufacturing that began in the 1920s, according to Gallup research. So, how can the industry create a modern manufacturing workplace in today’s digital age?