Six Costs to Reduce
The volatility of the global economy has made margins tighter than ever for today’s manufacturers. Industrial organizations are responding by accelerating their digital transformation and making investments into smart manufacturing technologies that significantly reduce operating costs.
In their new eBook, Six Costs to Reduce with Advanced Manufacturing Investments, industry analyst Tech-Clarity explains how making initial investments into the Internet of Things (IoT) and augmented reality (AR) helps manufacturers achieve better margins by reducing six key costs.
Delivering training curriculum and step-by-step work instructions to frontline employees via augmented reality improves quality, accuracy, speed, and safety without the associated costs of traditional printed materials.
Workforce productivity
See how investing in advanced manufacturing technologies can help industrial organizations further reduce operational costs in Tech-Clarity’s eBook.
with Advanced Manufacturing Technologies
Asset costs
Material costs
Energy costs
1
2
4
3
Minimal material use is essential to keeping manufacturing costs low. Industrial organizations can reduce scrap, spillage, and other costly waste by using real-time IoT data to monitor the supply of direct and indirect materials.
Today’s manufacturers are improving the availability, performance, and quality of their production assets by analyzing the data they produce, which helps lower costs related to energy, materials, and unplanned downtime or maintenance.
More efficient assets and frontline employees allow manufacturers to lower their overall energy costs. Shifting when energy is used to lower cost production times also helps businesses achieve better margins.
Download Six Costs to Reduce with Advanced Manufacturing Investments
Cost of quality
5
Safety and compliance costs
6
Delivering SOPs and work instructions through an augmented reality device greatly improves process consistency and the associated costs, while real-time IoT monitoring helps manufacturers recognize patterns or conditions that can lead to eventual quality problems.
Smart connected factory technologies are helping manufacturers to avoid penalties by minimizing risk in the environmental, health and safety area, while AR-enabled remote assistance has kept frontline employees highly productive despite physical limitations across the plant floor.
Workforce productivity
Material costs
Asset costs
Energy costs
Cost of quality
Safety and compliance costs