It’s no surprise that businesses today, particularly those in the manufacturing-related sectors, are trying to maximize their fixed assets for as long as they can before replacing or updating equipment. But what’s needed is a method to bring all of these assets together for constant monitoring, from maintenance cycles to the control of a parts inventory station. True, when equipment is down, so too are the profits associated with the project.
Ultimately, companies are drilling-down on whether to invest in new facilities, or equipment. In fact, a survey of 250 senior manufacturing executives indicated that 63 percent of the respondents are planning to get the most out of what they have, versus making capital expenditures.
But doing so, requires the latest in business process technology, that provides the kind of “automation and technologies” needed for this challenge
“ Today, they also have an opportunity to enhance this approach by applying emerging digital and other technology solutions to their plant operations and assets to make them more efficient and productive.”
Remaining flexible in today’s challenging, and changing, markets requires companies to remain agile for quick response.
Manufacturers need to understand the ins-and-outs of their existing supply chains, particularly as global markets become more commonplace.
“New technologies…like the cloud…should be considered to improve manufacturing flexibility.”
Cost-per-units: more controllable.
Obviously, it pays off when companies can monitor and react to costs in the pipeline. As such it is critical for businesses to “keep their cost-per-unit steady.”
Part of the solution comes from having the right teams in place to focus on ways to “minimize…process constraints.”
For industrial equipment manufacturers, the challenge is to have the capability to monitor their operations “across the enterprise.”
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