The value-add of blockchain for businesses is estimated to grow into the trillions by 2030. Experts believe product recalls alone—estimated to cost $8 million today—could be practically eliminated through improved track and traceability enabled by blockchain.
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What is tribal knowledge and why should a company care? It is valuable, exclusive information stored only inside someone’s mind and communicated only verbally (if at all). The “someone” may have played an important role in an organization for decades and knows a thing or two that the company treasures yet cannot duplicate.
When it comes to being successful, manufacturers today have more tools than ever to succeed. Chris Mahar, Associate Editor of Manufacturing Engineering, talks with Jeff Lage, President, Advanced Manufacturing Technologies at Ellison Technologies, about how Industry 4.0 is helping manufacturers improve operations through data collection and insights. Providing tips on how businesses can get the most capacity out of their machines, remove waste and enable their machines do more.
Energy markets across the world are changing rapidly with the increase of renewables and the change to a more distributed energy network. Energy storage is key. The capabilities of large-scale batteries have expanded, allowing users to capture more value and create a powerful tool to manage energy needs.
When drilling a well, clearing a forest or excavating a building site, experienced operators count on their toughest equipment to help them get the job done.
I experienced the end of the Third Industrial Revolution as I began my career in manufacturing. Closed government and private networks gave way to an open network called the Internet.
Information technology and operations technology are unlikely candidates for a successful marriage. But to ensure that manufacturers thrive in the digital age, OT and IT must find ways to work together—or to at least, as on Tinder, swipe right to indicate interest.
Manufacturers who have deployed the digital or smart factory have put down their pencils, found new uses for their clipboards and closed their spreadsheet programs in favor of using real-time data gleaned from condition monitoring of their machinery.
The U.S. Department of Defense (DoD) is set to award $10 million in funding this year to the Digital Manufacturing and Design Innovation Institute (DMDII) here, UI Labs CEO Caralynn Nowinski Collens, said this morning. UI Labs is DMDII’s parent organization.
We all know the buzzwords circulating around digital data and the factory. You have heard them—Industry 4.0, smart factories, data analytics, and artificial intelligence (AI). The question we all have is how will this impact workers in the long term? What do these terms really mean? Nevertheless, both traditional software suppliers and makers of advanced manufacturing equipment are offering digital solutions.