INSIGHT Webinar: The real value of machine health
We recently connectyed with manufacturing executive Scott Reed and Augury's James Newman for the INSIGHT webinar “Combining Machine Health with Process Health: Tips to Achieving All of Your Production Objectives.” Here we preview that presentation with a look at what machine health actually means and how it can benefit your business. Take a look…
Smart Industry: How do you define “health” in terms of industrial assets?
Scott: It is a state of well-being from many perspectives—the cost to operate and service material selections; the reliable delivery of products and services; predictability to the operations; ensuring safety for workers; remaining environmentally compliant.
Smart Industry: How is this health changing in the era of digital transformation?
James: When we look at healthy processes, they are not only addressing current objectives and key results (OKRs), they are actually creating new OKRs based on their ability to drive cross-functional work actions, and driving out the old issues that were our "default" OKRs as we focus on new types of value.
Scott: We are recognizing that continuous data capture and artificial intelligence enables an enhanced way to view and manage complex processes. Digital transformation enables us to translate insights into actions that help deliver a company’s OKRs.
Smart Industry: Are most processes in the modern manufacturing facility healthy or do we have a long way to go in this respect?
Scott: From a macro-level, the answer might be yes. From a precision and predictability standpoint, there is surely room to improve and reset what’s achievable.
James: The leading companies are there or close to getting there, but even they have unhealthy sites/plants they are working on. And for others who aren't the leaders, they have more work to do.
Smart Industry: Are sustainability efforts and profitability competing priorities?
Scott: Absolutely not. Lean tells us why. Sustainable machine processes boost profits by reducing waste end-to-end in the plan/source/make/deliver components of supply chain management.
