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4 ways to transform your plant into a smart factory of the future

  • Highlights

  • Achieve connectivity through sensors

  • Bring automation in the process

  • Implement cyber security solutions

  • Install smart machines

According to Capgemini’s report titled ‘Smart Factories: How can manufacturers realize the potential of digital industrial revolution’, smart factories are expected to contribute to the global economy to the tune of USD 500 billion to 1.5 trillion in the next five years.

The report also found that these factories can result in a 7x increase in overall productivity by 2022. With digital proliferation, the question is how can you transform your plant into a smart factory? Read on to know more.

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1. Using sensors for connectivity

One of the essential features of a smart factory is its connected nature where assets and systems are connected to each other to generate data required for making decisions in real-time. You fit your assets to sensors that continuously pull and update data from various sources to give you a holistic picture of supply chain processes, thereby driving greater efficiency.

With the cost of smart sensors reducing over the years and expected to reach $0.38 by 2020, you can collect more data at competitive prices. These sensors will help you predict the likely failure of a machine and prepare beforehand.

2. Implementing automation

Automation is another essential feature of a smart factory. It is estimated that 80% of human tasks are repeatable and therefore can be automated. Human-machine interfaces, servo motors, temperature controllers, and static control devices are some factory automation components that you can install in your plant.

The cost of these components can run into lakhs of rupees, for which external funding could be required. Bajaj Finserv offers loans for engineers at low interest rates, quick disbursals and easy eligibility criteria. With special pre-approved offers lined up for you, there are no queues, no forms and no details required. You can get money in bank with 1-step verification. To discover your offer, click here.

3. Enhancing cybersecurity

With connected systems, the risks of cyber breaches are equally high. In a fully connected environment, cyberattacks have far-reaching consequences. Going beyond the walls of a factory thanks to connectivity with other manufacturing facilities, cybersecurity is one of the most important aspects of a smart factory.

The cost of a robust cyber security solution can cost up to Rs.5 lakh and its running cost may go as high as Rs.2 lakh per year. Liquidity provided by engineer loans help you meet these costs.

To know how you can mitigate such cyber security threats, click here.

4. Bringing smart machines

Offering greater flexibility, autonomy, and adaptability, smart machines can detect faults and diagnose problems. Fitted with prognostic capabilities, these machines are capable of identifying malfunctioning of mechanical bearings and rotary equipment at the initial stages, thereby reducing maintenance costs.

Also, by providing relevant information to operators through sensors, these machines will be able to enhance efficiency of production.

While building a smart factory, you need to take into consideration your supply chain partners as well as end customers as any action on one of them will have an effect on the other.

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