key trends in modernizing manufacturing
• The key enablers to modernization can be grouped in three categories: digitization (team collaboration tools, virtual assistant, digital twin), data (predictive analytics, self-service BI, real-time data processing), and infrastructure (5G/Wifi 6, IoT, data as a service).
• Investments in smart factories projected to reach USD 244.8 billion in 2024.
• By the end of 2021, 25% of manufacturers will apply machine learning to data.
• Working with digitization and other modern tools at a client in heavy industry, EY managed to reduce unplanned stops and increase uptime. This reduced material loss and operational expenditures and produced a Euro 1.048 million annualized benefit.
• Using Smart Daily Management, EY helped a major tire maker increase its OEE results over a four week period by 9%.
• Implementing IWS methodology, EY helped a tobacco company increase average module output and reduce the number of workshifts.
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