We even have real-world examples. A France-based food producing company, Danone Group, shared that with the implementation of Machine Learning, they were able to reduce forecasting errors by 40%, reduce lost sales by 30%, and decrease the workload of demand planners by around 50%. Not just this, even our very own 184-year-old FMCG giant, Procter & Gamble Co, is taking the smart manufacturing route by implementing advanced algorithms, predictive analytics, and IoT in its paper more, into our manufacturing processes and workflows for precision outcomes and reduced overhead expenses.
Efficiency, productivity, and profitability have been the quintessential mantras for manufacturing industries. We have collectively worked for centuries, beginning with the first industrial revolution, to optimise these three critical factors. With the onset of industrial revolution 4.0, we can fairly say that we are optimising efficiency, performance, productivity, and, ultimately, profitability like never before. We have incorporated some of the most in-demand technologies, like Artificial Intelligence (AI), Machine Learning (ML), data science, Industrial Internet of Things (IIoT), cloud computing, and towel manufacturing division. While this is happening across manufacturing companies at scale, there is still a haze around the benefits of AI in digital manufacturing and how it has been key in driving the transformation from conventional manufacturing to digital.
Ways AI is transforming manufacturing industry
1. AI in logistics
This story is from the December 2022 edition of EM - Efficient Manufacturing.
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This story is from the December 2022 edition of EM - Efficient Manufacturing.
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