Internet of Things (IoT)
The internet of things (IoT) is transforming the physical world into a form of an information system. By placing sensors in the physical objects and wiring through networks, with the help of IP, IoT has already become the next big thing in the industry.
In case of manufacturing, the chances of improving the productivity in terms of cyber system in terms of supply chain management. The goal of the production system is to run itself, build products in batches and make manufacturing vastly cost-effective. The IoT industry is predicted to grow by 30 percent, while the Internet of Things industry is expected to add $10tn to $15tn to the global GDP as predicted by GE.
There are a few characteristics that need to be kept in mind while deciding the future of manufacturing. They are:
• Increase customization of products
• The emergence of vertically and horizontally integrated and value-added networks that include both customers and suppliers.
• Proper optimization of manufacturing process according to the flexible goals
Future of Manufacturing:
The future of the manufacturing holds a lot of features, they are:
• Manufacturing will become modular in nature with the help of standard interfaces and intelligent infrastructure.
• It will become a decentralized, automatic process where the resources will carry a digital product memory which will store all the necessary information which will help make the finished product.
• With the help of data exchange and machine learning, smart machines will take control, learn to work more efficiently, and identify mistakes more quickly.
• They will also help order supplies based on real-time analysis based on future demands.
• It will also benefit employees by finding customized products in the production process and identify the forthcoming steps and time left for completion.
• The boundaries will fade because multiple factors and entire regions will become a part of the single network. It will change the supply chains into multiple factories and even entire region will become a flexible value-added system where manufacturers and co-workers will work together.