Adopting Model-Based Definition, or MBD, is key and an industry expert provides some guidance.
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Russell Waddell, managing director at the MTConnect Institute, dives into why so many standards exist, what manufacturers can gain from a digital factory project, and how they can cut through the hype—to at least achieve shop floor monitoring. MTConnect, a standard with more than 10 years of history, frees up manufacturers to focus on value-add functions instead of normalizing data. And it has been installed on more than 50,000 devices worldwide. Today, the use case is not just what happened or what is happening “what is going to happen: looking at … anything that is forward-looking and anticipating what will happen next.” Perhaps most important, embracing standards allows for quick and easy integration of all types and brands of equipment.
William Crane, CEO of IndustryStar, an on-demand supply chain services and software technology company, dives into what manufacturers concerned about supply chain risk can do to worry less. In his estimation, “on-demand supply chain risk management resources have really been taking off.” It is possible, he said, to build a “supply chain competitive advantage.” Heard of agile supply chain? If not, he explains it.
UL says the novel coronavirus (COVID-19) has increased cybersecurity problems for manufacturers.