Smart Manufacturing: A Path to profitable Growth

An article in Business (May 21, 2015) titled “Smart Manufacturing: A Path to profitable Growth” (http://www.huffingtonpost.com/brian-kennell/smart-manufacturing-a-pat_b_7314828.html) describes the benefits and capital costs involved in implementing Smart Manufacturing in the company’s operations. Analyzing the valuable data provided by the interconnected systems triggers innovation, productivity and safety in the organizations’ supply chain. Smart technologies help eliminate waste through better scheduling and coordinating the internal processes. Nevertheless, according to the 2014 Manufacturing Outlook Survey by the American Society for Quality (ASQ), 87% of US companies are not using smart manufacturing, but among those companies that are at least partially using the smart technology, 82% reported increased efficiency. One of the main constraints to implement the latest Internet of things is the high capital equipment costs. Will the government or industrial organizations evaluate alternatives to financially supporting the implementation of Smart Manufacturing?

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