How AI is Transforming Manufacturing Technology for Business Automation

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Blog posted by : Admin / 19 Nov, 2021

 

Artificial Intelligence (AI)- driven manufacturing technology for business automation is creating new opportunities and transforming the ways in which humans and machines are collaborating. Soon business automation is going to be accepted as a standard practice in the industry.

 

The adoption of manufacturing AI has been spearheaded in a post- pandemic world owing to shifting priorities. The business mindset is now about building systems that withstand world crises and can integrate with newer technologies. 

 

 

Augment Human Skills with Artificial Intelligence in Manufacturing

 

Any computer or software that mimics human intelligence or engages in human-like activities can be described as artificial intelligence. 

 

One aspect of AI is Machine Learning (ML) where the computer is fed data and given specific commands to respond to certain actions using algorithms. This model is then trained to find algorithms and recognize patterns to produce the desired output. 

 

 

Conquer Internal Challenges and Mitigate External Ones with AI in Manufacturing Business Automation
a.	Streamline procurement and vendor management
b.	Use predictive analytics to meet supply and demand
c.	Optimize procurement, inventory and dispatch cycles
d.	Customize marketing and sales pipeline for increased conversions
e.	Maintain quality assurance with ERP systems

 

 

The Difference between Automation and Artificial Intelligence 

 

To better understand the hype around the transformation of manufacturing technology, consider the example of payment schedules, which will be explored more later in the blog. 

 

An example of automating payments would be to program the computer to pay a certain amount every month on a chosen date. This would ensure that you never default on your bills, as the money would be automatically credited to the vendor or stakeholder. 

 

When you use AI in manufacturing, it can look at payment histories, the amount to be paid, vendors and state regulations to determine the order of the payment schedule. It not only makes the payments but analyzes the entire schedule to optimize it. 

 

 

The Right Time to Invest in Manufacturing AI is now

• The scope for artificial intelligence in the manufacturing industry is vast. 

• Most trends and analysis point to a rise in the adoption of manufacturing automation. 

• After surviving through a global pandemic, most companies are changing strategies and looking for newer ways to adapt. 

 

 

Top 5 Use Cases for Artificial Intelligence in Manufacturing

 

1. Invest in Employee-Centric Manufacturing Technology to Tackle Labor Attendance and Skills Management 

 

Labor management is one of the biggest challenges faced by the Indian manufacturing industry. The two main reasons are the lack of stability in labor attendance and the lack of skilled workers. While artificial intelligence may not completely eliminate the problem, it can alleviate it.  

 

Using AI- integrated manufacturing automation software to record attendance would be massively under-utilizing it. By looking at employee payroll and tasks, the system can calculate high productivity periods along with the tasks the company spends most of its time on. Similarly, the system can alert managers of upcoming low productivity periods owing to a predicted dip in employee absence. 

 

Recruiting and onboarding can also be intelligently automated through manufacturing AI. The software can scan through a large number of resumes to find a suitable candidate. It also eliminates any human bias during the process. 

 

Upskilling your current workforce is one way of making up for the lack of skilled workers. Training sessions can be conducted through the manufacturing automation software to record progress and offer rewards or acknowledge achievements. 

 

 

2. Increase Inventory Visibility and Optimize Stock Levels by using Artificial Intelligence for Manufacturing

 

AI can truly shine in facilitating good numbers for order fulfillment without over or under stocking. Only analyzing the supply and demand data will not elicit accurate predictions. Taking into account customer behavior and market trends will draw a true picture of the rise and fall in demand as there are a lot of fluctuations in demand and supply.

 

Stock levels too need to be modified routinely for different categories of goods to meet seasonal demands. Manufacturing AI's inventory management system can set a minimum level for slow or fast-selling products and critical materials to create an alert for low stock.

 

 

3. Predictive Asset Maintenance AI in Manufacturing to Improve Operational Efficiencies 

 

In addition to maintaining various schedules for the plant and machinery, AI- integrated manufacturing automation software can predict delays in maintenance. 

 

Various machines can be integrated with the automation software, including but not limited to vehicles, weighbridges, biometrics, batteries and more equipment. Based on the maintenance data, the system can predict which parts may need replacement or servicing. 

 

Surely, it prevents sudden breakdown of machines which in turn prevents downtime losses. Real-time information analytics generated by the manufacturing technology helps in monitoring the machinery and assets of the organization.

 

Transparent artificial intelligence programs check for logic, allowing the machine learning algorithm to function with high accuracy. The basic step in this process is for the user to feed correct, clear, concise and justifiable data to the system. 

 

 

4. Forecasting with Artificial Intelligence in Manufacturing to Optimize Processes 

 

By analyzing external and internal data sets, past as well as present, AI can recognize and analyze patterns to predict trends. 

 

Artificial intelligence for manufacturing processes your organization’s financial statements, pre-orders, sales, procurement data and business trends. It then analyzes market trends, prices of commodity goods and any major events impacting the economy. 

 

It can forecast the price of raw materials to mitigate the challenge of extreme price volatility. 

 

A comprehensive analysis improves forecast accuracy and creates a system for your business to function at an optimal level, cutting down unnecessary costs and maximizing profit. 

 

 

5. Audit and Payment Schedule Automation using AI in Manufacturing

 

All your financial statements can be processed by a software system to detect inaccuracies. It can run through a high number of documents in a short amount of time. You can also set the system up to create alerts for suspicious activities. 

 

The effectiveness of the manufacturing automation finance software will depend on the quality of data processed during training. Make sure your data is clean and consistent for your auditing AI tool to accurately spot the difference between a regular transaction and an unusual one. 

 

Not only can an AI- integrated manufacturing technology make accurate audits but it can manage financial outflows too. Your software can make automated payments but can it analyze due dates, vendor information, state regulations and more to create a prioritized list of bills to be paid and subsequently make those payments? 

 

 

How will Business Process Manufacturing Technology be Transformed by AI?

 

The most common use and view is the automation of tasks. While automating repetitive tasks with minimal supervision is part of manufacturing technology, it is not what will transform it. AI-led transformation is intuitive and can be applied to any task where there is logic to follow. 

 

Manufacturing AI will process large amounts of data, analyze situations to arrive at an informed conclusion after following a programmed logic. The human-like decision-making capability is being explored to not only transform business processes but go beyond what was once thought to be undoable. 

 

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