The manufacturing sector has seen a rise in competitiveness because of the introduction of Industry 4.0 technologies over the last decade. It has become important for manufacturers to stand out in the industry by optimizing their systems to be as perfect as possible. One of the factors that make a factory competitive is its reliability, and a smart factory has great opportunities to improve it using the failure data from its assets.
The smart factories created using these technologies have greater efficiency and provide valuable data about the assets which can be used to further improve plant performance. The asset failure data gathered from different assets can provide insights into the reliability of assets and how to improve it. [Read more…]