Now, such processes utilize digitized ways of doing business, which increases their efficiency and enhances the overall productivity of the business processes.
The digitization of manufacturing is changing the ways of designing and servicing the products and transforming the operations, processes, and supply chain in the most digitally driven ways.
According to recent research, the total global market value of the digital manufacturing market will reach USD 1.4 trillion by 2030.
Factors such as the rise of the need for digitization in manufacturing processes, the surge in the use of robotics in business processes, and the demand for automated manufacturing processes fuel the growth of the digital manufacturing market with such massive figures.

Digitization and Modern Manufacturing

Regarded as “Industry 4.0” in Europe and “Industrial Internet of Things (IIoT)” in the US, the rising application of information and communication technology (ICT) is contributing massively to the growth of modern manufacturing.
Smart manufacturing encompasses the advent and maturation of many innovative technologies such as high-performance computing (HPC), powered computer-aided design (CAD), and advanced sensors technologies that enable machine-to-machine (M2M) communications.

In manufacturing factories, IoT refers to the embedding of sensors in production equipment such as robots, stampers, and 3D printers, among others.
Another recently conducted research reveals that the application of IoT in manufacturing will generate a global market value of approximately USD 3.5 trillion.
This suggests the rising significance of digital manufacturing, achieved by significant improvements in operational efficiencies as smart devices connect the machines with activities on the shop floor, which digitizes the manufacturing processes.
Manufacturing does not depend on huge plants and long assembly lines. Instead, most manual work processes get digitized with emerging technologies such as IoT.
For instance, drawings do not handle the shop floors in the form of books; instead, they are sent to the tablets within a few clicks.
Digitization, in simple words, refers to converting the manual non-digital processes to digital ones by altering the manual raw data to digitized ones, thereby driving digital transformation.
The same goes for the manufacturing industry, where spreadsheets get converted into Excel, Google Docs have replaced typewriters, and clay models turned into CAD files. These are a few examples only; the list of digitized business processes is long.

The below-mentioned parameters make the significance of digitization in the manufacturing even more relevant in Industry 4.0

1. Rise in manufacturing speed

The slowdown in manufacturing processes hampers the companies’ revenue streams and results in the efficiency of its operations.
Industries these days demand a quick manufacturing speed, contributing to the effectiveness of the manufacturing business processes.
Digitization boosts productivity, allowing projects to move faster and efficiently.

2. Leveraging the Industrial Internet of Things (IIoT)

Achieving IIoT remains the goal of a manufacturing organization. Manufacturing companies leverage machines loaded with sensors that provide continuous feedback throughout the manufacturing supply chain in terms of real-world data and optimize maintenance requirements and wear and tear.

3. Less Iterations

Rapid product iteration drives innovation. Better data sharing across divisions, organizations, and software suites only fuels the iteration speed. Digitization allows data to be accessed in real-time, anywhere globally, which pushes innovation trends, market opportunities, and consumer demands in digitally-driven ways.

4. Streamlined Digital Processes

Streamlining manual manufacturing processes to digitized ones is one of the significant benefits to manufacturing companies.
Apart from emerging technologies such as RPA (Robotic process automation) and IoT, digital software such as ERP too digitizes and streamlines the entire value chain of the manufacturing processes.
This makes the manufacturing processes easier, quicker, and efficient and enables manufacturing organizations to save costs and decrease the turnaround by digitizing the manual processes.
“Fox ERP for Manufacturing” is an ERP Software that simplifies the production cycle, helps track material consumption, exhibits capacity planning, and more.
It can handle discrete manufacturing processes with batch, serialize, and multi-level bills of materials and is best suited for the growing expectations of the customers bringing the finished products to market rapidly using affordable, easy-to-use & all-in-one ERP solutions.
“Its easy-to-use interface” makes it one of the most preferred ERP software among manufacturing players.

Conclusion

Digitization, like other sectors, has disrupted the manufacturing industry as well. Nowadays, organizations focus more on making complex problems easier, efficient, and sustainable, which not only cuts the extra costs but also induces efficiency in the business processes.
“Fox ERP for Manufacturing” enables manufacturing companies to streamline their business processes digitally in the most efficient ways.