Innovation is critical to the manufacturing industry. But how does an idea evolve from inspiration to execution? Sometimes it’s a mystery, sometimes pure luck—and sometimes an idea comes to fruition via a carefully orchestrated process with many individuals participating, each person playing a vital role. What can you do to create an environment that’s conducive to creative thinking and encourages your people to act on those ideas?
A collaborative robot (cobot or co-bot) is a robot designed to work alongside human workers in a shared workspace. On the contrary, industrial robots typically operate autonomously and with little physical interaction with humans. The role of cobots in the Industry 4.0 will only get bigger.
The APEJ region (Asia Pacific excluding Japan) is expected to spend US$125.4 billion on robotics in 2022, tripling the spending in 2017, with a compound annual growth rate (CAGR) of 25.7 per cent from 2018 through 2022. APEJ is currently the largest robotics market and poised to account for more than 62 per cent of the global robotics spending in 2022, according to the research firm IDC.
Innovation is a central component of the manufacturing industry. It can take many forms and address many functions. It can be a simple tactic for improving shop floor operations. It can be a concept for a new type of product or service. It can be a revolutionary approach that completely disrupts the way you do business.
A digital twin is a virtual replica of a real (physical) object created by the data collected from sensors embedded in that object. The digital twin, therefore, provides a real-time digital representation of the object.
When confronted with a problem, have you ever stopped and asked “why” five times? If you do not ask the right question, you will not get the right answer. The Five Whys is a simple question-asking technique that explores the cause-and-effect relationships underlying problems.
Topics: Technology trends
Known as the technology behind Bitcoin, blockchain can be applied in a wide array of applications for business, not just limited to only the cryptocurrency arena. Even though still in its infancy, blockchain technology is believed to redefine the finance function.
The Internet of Things is a world that connects people, data, processes, and physical things. Beyond the consumer realm, the IoT is creating a new paradigm in the business world. So how will the IoT impact manufacturing?
The Factory of the Future isn’t some futuristic fantasy. It’s quickly becoming the new reality. And tech-savvy manufacturers are either on board or preparing for change. 40% of manufacturers believe that smart manufacturing and its foundational technology—the Internet of Things (IoT) — are within reach and that it’s the right time to invest.