4.0 Industry Technologies & Supply Chain -

 

These are all terms you have probably heard or read about before. However, behind all of these buzz words, the main goal is the use of technology and data to increase productivity and efficiency. The connectivity and flow of information and data between devices and sensors allows for an abundance of available data.

The science of data and the ability not only to extract relevant information from them, but to make accurate predictions allows the capture of real-time decisions that will significantly improve the strategies and performance actions in this sector

 Currently, supply chains aren’t anymore just systems for keeping track of products along the chain, but they have become a way to gain a competitive advantage and even build an own brand.

Thus, the fourth industrial revolution is characterized by the creation of intelligent factories, that implement and integrate state of the art technologies such as cyber-physical systems (which combine tangible assets with digital twins), IIoT (Industrial Internet of Things), data analytics, additive manufacturing, 3D printing and artificial intelligence. Applying these technologies make possible to achieve the necessary optimization and automation to reduce costs and manufacturing times. This will allow us to produce thousands of different product configurations and to manufacture very small batches of goods at a very low cost.

Time series forecasting:

Time series forecasting is an important area of machine learning. It is important because there are so many prediction problems that involve a time component. However, while the time component adds additional information, it also makes time series problems more difficult to handle compared to many other prediction tasks.

Optimized transport and Logistics:

Each agent involved in transporting, ordering and shipping goods relies on the optimization of activities that avoid high costs and poor synchronization. Automatic transactions are very useful in this context, but especial care must be taken and a person has to periodically check the proper functioning of the system. 

Predictive Maintenance:

The break-fix service is reactive and inefficient. Up to 55% of services fail because the service part is not available when needed, which translates into an increase in product downtime, stock breakdowns, loss of revenue for the product owner and a customer dissatisfied.

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