Manufacturing firms leverage Big Data metrics to achieve greater efficiency and productivity. The interactions of the real and virtual worlds are the backbone of such smart production founded on the principles of Lean. The interconnection of ‘things’ is leading the way to a truly transparent manufacturing environment, the Smart Factory.
The Smart Factory creates opportunities for radical optimization at Richards plant measured on the metric OEE–Overall Equipment Effectiveness. Companies achieve 20%+ in productivity increases in less than 12 months, which includes an increase in production hours, man-hour savings, and waste for more overall competitiveness. Empowerment of key employees is crucial to affect engagement. Shop Floor workers help detect errors during production and initiate correction of any deviation from the target to ensure a more efficient and leaner production process. These actions translate directly into bottom line business results.