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Smart Factory
Smart factories are also known as “digital” or “intelligent” factories, but all of these terms refer to a specific environment that relies on automation and self-optimization to improve and streamline manufacturing operations. This involves interconnecting various machines and devices so that they work in unison to complete a project. These processes are completed without intervention from human employees, although smart factories are overseen by human managers.
What Small and Midsize Businesses Need to Know About Smart Factory
SMBs in the manufacturing industry can benefit immensely from automating and optimizing devices and machinery to create a smart factory. As an application of the Industrial Internet of Things (IIoT), it can be costly to implement these changes and incorporate them into existing machinery, so it is best for businesses that require a high level of productivity. When adopted correctly, smart factories can reduce labor costs and improve quality.
Related terms
- Procurement
- Bill of Materials (BOM)
- Advanced Driver Assistance Systems (ADAS)
- Smart Factory
- Strategic Sourcing
- Value-Added Reseller (VAR)
- Telematics
- Supply Chain
- Vendor
- Enterprise Resource Planning (ERP)
- Supply Chain Planning (SCP)
- Scanner
- SCADA (Supervisory Control and Data Acquisition)
- Total Quality Management (TQM)
- Vendor Management
- Senpai
- Radio-frequency Identification (RFID)
- Loopback
- Total Cost of Ownership (TCO)
- Electro Mobility (e-Mobility)
