In part four of our Co-Creating the Future series, we investigate how manufacturers can take operational performance to new levels with intelligent prediction. This post was originally published on SIG’s SIGnals blog.
In part three of our Co-Creating the Future series with SIG, we explored the potential of intelligent data analysis in optimizing both machines and workflows. But digitization in industrial applications isn’t just benefiting performance now. Perhaps more importantly, it has the power to predict performance in the future.
Maintenance is a key strategic concern when developing and manufacturing products. But according to research cited by Deloitte, poor maintenance strategies can reduce a plant’s overall productive capacity between 5-20%, while unplanned downtime costs industrial manufacturers an estimated $50 billion a year. In the food and beverage industry, the cost of machine failure can be extremely high when it comes to compromised food safety.
Food and beverage manufacturers not only need to meet production demands and avoid unplanned downtime – they must also adhere to strict food and drink quality standards to ensure their products are 100% safe for consumers. This means making sure that every machine is in perfect working condition as a failure to do so could result in expensive product recalls with potential brand-damaging consequences.
As SIG’s new partner, we've been providing software solutions to manufacturers for over 20 years. Our industrial applications help predict failures before they happen and optimize the way field service technicians are dispatched to resolve issues. Put simply, our predictive-based digital solutions means manufacturers can operate machines for longer, boost productivity, lower costs, increase competitiveness and, crucially, ensure continual food safety.