How Machine Learning is changing manufacturing

typical-production-improvemensForbes magazine has a report on the ways that Machine Learning is improving manufacturing processes. It’s a very good summary of the changes that Industry 4.0 technologies are triggering in factories all around the world.

These are the main ones, as reported in Forbes:
1. Keeping supply chains operating efficiently, which means more production capacity and less material consumption.
2. Integrating data from different departments, so that the whole factory can be managed in a coordinated way.
3. Improving preventive maintenance so that the factory never stops.
4. Improving Overall Equipment Effectiveness by integrating sensor data on the most important operating parameters of a factory.
5. Increasing relationship intelligence (not exactly related to Industry 4.0)
6. Improving product and service quality by integrating this process into internal workflows.
7. Optimizing the best possible selection of machines, staff and suppliers to customize production.
8. Developing Manufacturing as a Service, which is the future for some industries that need to focus on marketing and selling.
9. Creating greater economies of scale, as buyers and suppliers can collaborate more effectively by forecasting demand and production.
10. Optimizing prices, even changing them very often depending on demand (also not exactly related to Industry 4.0).

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