Artificial Intelligence (AI) supports the oil & gas industry in myriad ways, including asset tracking, predictive analytics, data management, etc. Oil & gas operations generate massive amounts of data—up to 2 terabytes daily in some cases. Human analysis can only uncover so much, leaving numerous opportunities in the shadows. By deploying AI software tools, these disparate data can be used to bring new insights to light. These tools can identify drilling opportunities, streamline processes, enhance workplace safety, and optimize performance.
What Is Overall Equipment Effectiveness?
Overall Equipment Effectiveness (OEE) is a critical metric manufacturers use to measure and optimize production efficiency. It evaluates three key factors: availability, performance, and quality, helping to pinpoint bottlenecks, downtime, and inefficiencies in the production process.
The manufacturing industry is in the midst of a transformative period. Technological advancements are enabling unprecedented operational efficiencies and revealing previously hidden revenue opportunities. At the same time, manufacturers must contend with the baby boomer exodus, curb rising cyberthreats, and meet climate regulations.
Industrial machinery suppliers are faced with the tall task of pushing the innovation envelope, while keeping production costs at bay. Customers require machines that unlock new use cases, but at the same time don’t necessitate significant training time for employees. To strike this balance, suppliers should strongly consider the adoption of immersive engineering solutions powered by Extended Reality (XR) hardware. As ABI Research already pointed in a recent blog post, cloud-based XR platforms foster greater collaboration between engineering and design teams, reduce error rates, and accelerate the design review process.
Immersive engineering is a game-changer for industrial machinery suppliers as they aim to enhance quality and productivity, while reducing costs and their carbon footprint. Their customers, who cite machine performance improvements as a top priority, have increasingly required new tools and products as they tackle recent headwinds such as COVID-19, worker strikes, and safety recalls.
The International Manufacturing Technology Show (IMTS) 2024 marked another milestone in innovation, with exhibitors showcasing advancements across robotics, Artificial Intelligence (AI), data integration, cloud computing, and more. The usual big names were there to show the world what they’ve been up to, but they were accompanied by smaller startups hoping to make a big splash. The technological breakthroughs on display in Chicago this year embody the innovative spirit the manufacturing industry requires to address an aging workforce, increased demand, and supply chain complexities.
Working in a competitive industry demands that you become a data-driven organization. As a technology solution provider, effectively leveraging data can unlock significant advantages, such as driving market expansion and fostering innovation. Unfortunately, all too many companies lack an analytical approach to decision-making.
As the manufacturing landscape continues to evolve, companies are increasingly looking toward technology to bolster their operations and overcome emerging challenges. To better understand the attitudes, adoption rates, and pain points manufacturers have regarding technology, ABI Research conducted The State of Technology in the Manufacturing Industry survey.
In the rapidly evolving world of discrete manufacturing, choosing the right Manufacturing Execution System (MES) software solution can make all the difference in optimizing production efficiency, quality, and overall operational performance. With so many options on the market, finding the best MES provider for your specific needs can be a daunting task. To help guide your decision-making, we’ve distilled the latest competitive ranking from ABI Research, reviewing the 18 MES software providers targeting discrete manufacturers. In this blog post, we will explore the standout capabilities and key differentiators of the top six MES vendors, providing valuable insights to help you make an informed choice.
Quality control is one of the most consequential aspects of manufacturing. We’ve seen all too many times what kind of brand damage a product recall or negative reviews can inflict on a company’s public image. This is why Quality Management System (QMS) software is a must-have in the modern manufacturing plant. A QMS solution can accommodate all your quality assurance requirements, ranging from risk mitigation to safety compliance. The market for QMS software is expected to nearly triple between 2024 and 2034—reaching a US$13.11 billion valuation.