5 reasons to choose TwinThread Predictive Operations system
In an increasingly competitive business environment, technology is the most important asset for companies to maintain their competitive edge.
There has never been more potential for the use of technology to streamline and automate processes for better operations management.
Providers of such technologies include TwinThread, with its Predictive Operations platform. In this article we look at five ways businesses could use Predictive Operations to benefit everyday processes.
Automating processes can be a valuable move to make when looking to maximise production outputs while maintaining a high level of quality control.
TwinThread helps users to get the most value quickly to streamline changes in production, leaving more time for engineers to continue developing and optimising performance.
As demands are continuously changing, TwinThread makes it possible for systems to adapt to these changes quickly.
Using Predictive Operations can limit waste in the form of time and other production elements by measuring and monitoring key performance information quickly.
As processes evolve, time is one of the most valuable assets for operations to manage.
Having a system that is easy to implement and straightforward to use can reduce the strain on human resources and limit time lost through much needed learning.
TwinThread understands the importance of streamlining the implementation of a new system. Its Predictive Operations platform “was built from the ground up for industry – by industry experts” and can be easily adopted by engineers to ease pressures on operations personnel.
It has never been more beneficial for companies to use IoT to encourage collaborative efforts with full process visibility.
Allowing production systems to work together with IoT means that operations can be monitored frequently as businesses begin working remotely.
One of the main benefits of developing IoT is increased visibility of data to all devices without direct accessibility to a production line or factory.
TwinThread explains “By using our six targeted predictive applications, they can tap into any performance metric they are looking to gain visibility for.”
Improve upon what you have
TwinThread’s system applies a continuous improvement process which, in collaboration with new performance information, allows engineers and operators to focus on improving efficiency, reliability and performance.
As the system develops businesses no longer need to have the most modern system to make modern improvements to their factory or production line.
Click here for more information on the TwinThread Predictive Operations System.
IMF: Variants Can Still Hurt Manufacturing Recovery
After a year of on-and-off manufacturing in the US, UK, and the eurozone, demand for goods surged early last week. Factories set growth records in April and May, suppliers started to recover, and US crude hit its highest price point since pre-COVID. As vaccination efforts immunise much of the US and UK populations, manufacturers are now able to fully ramp up their supply chains. In fact, GDP growth could approach double-digits by 2022.
Now, the ISM productivity measure has surpassed the 50-point mark that separates industry expansion from contraction. Since U.S. president Biden passed his US$1.9tn stimulus package and the UK purchasing managers index (PMI) increased to 65.6, both sides of the Atlantic are facing a much-welcomed manufacturing recovery.
Lingering Concerns Over COVID
Even as Spain, France, Italy, and Germany race to catch up, and mining companies pushed the FTSE 100 index of list shares to a monthly high of 7,129, some say that UK and US markets still suffer from a lack of confidence in raw material supplies. Yes, the Dow Jones has made up its 19,173-point crash of March 2020, and MSCI’s global stock index is at an all-time high.
Yet manufacturers around the world realise that these wins will be short-lived until pandemic supply chain bottlenecks are solved. If we keep the status quo, consumers will pay the price. In April, inflation in Germany reached 2.4%, and across the EU’s 19 member countries, overall prices have increased at an unusual pace. Some ask: Is this true recovery?
IMF: Current Boom Could Falter
Even as Elon Musk tweeted about chip shortages forcing Tesla to raise its prices, UK mining demand skyrocketed; housing markets lifted; and the pound sterling gained value. The International Monetary Fund (IMF), however, cautioned that manufacturing recovery won’t last long if COVID mutates into forms our vaccinations can’t touch. Kristalina Georgieva, Washington’s IMF director, noted that fewer than 1% of African citizens have been vaccinated: “Worldwide access to vaccines offers the best hope for stopping the coronavirus pandemic, saving lives, and securing a broad-based economic recovery”.
Across the globe, manufacturing companies are keeping a watchful eye on new developments in the spread of COVID. Though US FDA officials don’t think we’ll have to “start at square one” with new vaccines, the March 2021 World Economic Outlook states that “high uncertainty” surrounds the projected 6% global growth. Continued manufacturing success will in large part depend on “the path of the pandemic, the effectiveness of policy support, and the evolution of financial conditions”.
Mathias Cormann, secretary-general of the Organisation for Economic Co-Operation and Development (OECD) concurred—without global immunisation, the estimated economic boom expected by 2025 could go kaput. “We need to...pursue an all-out effort to reach the entire world population”, Australia’s finance minister added. US$50bn to end COVID across the world, they imply, is a small investment to restart our economies.