Implementing a transformative business operations approach is profoundly reshaping companies across diverse sectors, encompassing automotive, consumer goods, cosmetics, medical technology, and electronics, as these industries stand at a critical juncture in their digital journey, rapidly progressing toward the pinnacle of digital maturity.
With the advent of Industry 4.0 technologies such as advanced analytics and artificial intelligence, manufacturing leaders are increasingly embracing these innovations to enhance product quality, streamline costs, and boost productivity. By harnessing the synergistic potential of these technologies, companies can establish advanced production systems that fully leverage digital capabilities at a large scale, resulting in enhanced productivity.
Although there have been notable successful pilot projects and deployments, only some companies have successfully implemented their strategic decisions and realized the benefits throughout their organization. However, the experiences of these select companies that have achieved success serve as a valuable guide for ushering in a new era of operational excellence infused with technological advancements, with tooling digitalization playing a pivotal role.
The problem and the way forward
Although new technologies in the tooling industry hold significant potential benefits, several barriers hinder their widespread adoption. A survey conducted by ORNL and the University of Toledo College of Engineering sheds light on these challenges, which include factors such as a lack of expertise, high costs, concerns about reliability, limited trust in the Internet of Things(IoT), and the integration of new technologies with traditional manufacturing practices. The survey results show that, despite these barriers, industry leaders, recognize that sensors, advanced technologies, and machine learning are indispensable in the tooling industry as they offer a range of valuable advantages such as process validation, higher quality parts, production data, prolonged tooling life, predictive tooling repair, reduced downtime, better repeatability, higher parts quality and failure prevention.
Adoption and Impact of eMoldino's tooling digitalization solution among OEMs
An innovative cloud-based solution has emerged, harnessing the power of data and sensors to facilitate the digitalization of toolings with minimal installation costs. This cutting-edge cloud platform enables tracking tooling performance data from numerous sources while concurrently providing efficient management capabilities. In addition, by leveraging the cloud infrastructure, the potential for human errors in tooling management is significantly reduced.
1. Tooling asset management
Unplanned downtime can cost Fortune Global companies 11% of their yearly turnover - almost $1.5tn.
Tooling asset management offers real-time visibility into an organization's complete tooling fleet, including location, status, maintenance history, and utilization. This optimizes asset tracking, utilization, and decision-making while minimizing downtime and extending asset lifespan.
A prominent consumer goods company faced a significant challenge: "Over the years, we have lost track of tooling life, status, location, and maintenance, necessitating yearly audits at our suppliers," explained the Purchasing Director. However, implementing a comprehensive tooling library with live data on the tooling lifecycle, location, and maintenance history empowered their purchasing and tooling team to manage the toolings and share vital information efficiently.
2. Supply chain management
77% of companies are investing in supply chain visibility as they find it as a priority
By utilizing IoT sensors and custom software, companies can access the real-time performance data of suppliers, enabling executives to detect defects and ensure adherence to quality standards promptly. This functionality also facilitates analysis and tracking of supplier performance, empowering OEMs to avert delays in parts delivery and gain a competitive advantage. Effective supply chain management is paramount for business success, and tooling asset management offers valuable insights into supplier performance, fostering stronger supplier relationships and enhancing supply chain resilience.
A leading consumer electronics company encountered a significant issue: "We lack visibility into our suppliers' production and capacity, causing occasional supply shortages without our knowledge," explained the Supplier Industrialization & Planning Representative. By implementing the tooling digitalization solution, the company gained real-time monitoring of their suppliers' production status and part output, receiving early alerts for unexpected downtime and low capacity.
3. Production monitoring
The use of advanced technologies in production monitoring can decrease production costs by 10-30%
Production monitoring is a vital component of tooling asset management, allowing real-time performance monitoring of tooling assets during production. This feature aids in preemptively identifying issues to prevent downtime and maintain quality. Managers can make informed decisions on repairs and maintenance based on asset health and efficiency data. Additionally, production monitoring optimizes production processes, reduces waste, and enhances product quality, empowering businesses to stay competitive by fostering agility and responsiveness.
A significant challenge arose for a large global company in the automotive sector - " We want to be informed when problematic parts are being made and have data to backtrack the production period of the bad parts," explained the Quality Manager. By leveraging data collection and machine learning analysis of the production process, the company has gained the ability to identify the specific time during which parts are manufactured accurately.
4. Performance benchmarking
Consistent performance measurements boost supplier performance by over 26% on average for enterprises.
Performance benchmarking offers valuable insights into supplier performance based on delivery, cost, and quality metrics. This enables users to identify areas for improvement and take corrective actions, fostering stronger supplier relationships. Furthermore, performance benchmarking empowers businesses to make informed decisions about suppliers and optimize their supply chain, resulting in cost savings and increased efficiencies through strategic decision-making.
A significant problem confronted a prominent player in the technology industry - "it can be a guess-game when it comes to supplier performance review. We feel a lack of actual performance data to evaluate our suppliers, " explained the Sourcing Director. By harnessing the aggregated data facilitated by the cloud solution, the company successfully acquired a comprehensive report on supplier performance, categorized by different parts.
eMoldino presents a highly effective and validated solution, unlocking a realm of opportunities for Fortune 500 OEMs, whereby early adopters have already experienced significant advantages, witnessing a remarkable leap in advanced manufacturing capabilities.
Start a conversation with us! - identify your organization's blind spots and learn how eMoldino can help solve them.
Learn more about how eMoldino can provide real business value, request one of our case studies today or gain further insight through some of our articles!
