Digital Thread: A Trend That Assures to Transform Manufacturing Industry
August 27, 2021
Today, extreme volumes of data are generated everywhere. And if you know how to manage your data, it can be tremendously valuable. In manufacturing industries with technologies like IoT platforms, sensors, and cutting-edge devices, huge data volumes are collected every second. However, getting the most value out of data is quite challenging. Because data is confined to a specific department or industry, making it challenging to derive valuable insights at the operational level. However, organizations can overcome this challenge by following a holistic approach to extract insights from data and provide an end-to-end view of the entire business process. The digital thread is a primary component in this whole process.
What is a digital thread?
The digital thread is an information framework to track an asset’s data through its entire lifecycle. Digital thread provides a comprehensive view of any asset, whether the data is structured or unstructured, coming from disparate or isolated sources. This allows organizations to shift their mindset from machine-oriented to product-oriented, which can remarkably impact product quality, operational efficiency, and business outcomes.
A digital thread enables you to track the entire lifecycle of the product by gathering data across all components. As a result, previously isolated data come together at operational and multi-operational levels to gain deeper insights, minimize decision cycles, accelerate growth, and enhance quality and business efficiency.
Why is Digital Thread Important in Manufacturing Industries?
Slowly but surely, every company across the globe is considering a path of digital transformation. Consequently, three factors drive companies to follow digital transformation for their products and services and change how they manufacture products.
Evolving technologies: As the technology evolves, it changes the product’s functionality, competitive edge, product development lifecycle, and complexities in manufacturing. As a result, new suppliers, tools, methodologies, quality demands, and performance accommodate new cutting-edge technologies. Consequently, manufacturing industries experience an increased volume of challenges and changes as new products are launched.
Evolving Market also pushes the manufacturing industry towards digital transformation. Staying competitive in this sector often depends on how you approach new market trends in manufacturing. If your products and services don’t follow new market realities, they will fail to perform in the long run, no matter how much cutting-edge technology you use.
Evolving Business Models are driven by market trends towards mass customization, whether the product as a service or software as a service. Consequently, it leads to new challenges in the manufacturing industry like demands, daily operations, profitability, market demands, adaptability, incurring further costs or risks.
How Does Digital Thread Benefit the Manufacturing Industry?
The digital thread connects the digital and physical world to optimize products and processes. When implemented strategically, a digital thread can become the building block for your product and business by providing deeper visibility and enhancing collaboration across various departments in your organization.
Enables agility within your organization and manufacturing marketplace:
Agility is one of the essential attributes of the manufacturing industry. Gaining real-time visibility into your products is one of the most successful ways to accomplish agility in the manufacturing processes. Most of the time, data is isolated at the team level or operational levels with no common digital thread, which results in challenges like numerous sources of truth, data security, interoperability, etc.
However, with digital thread, you can quickly upstream, downstream, assemble, or reassemble data at different levels of the product lifecycle. As a result, your employees can dive deeper into the data and gain valuable insights to enhance product quality and business performance. Ultimately, this will lead to agility and manufacturing products according to evolving market trends and business models.
KloudPLM being on cloud helps you resolve this issue. With the real time dynamic dashboards, you can track the performances and easily navigate to the operational modules. It becomes easier for the authority to sense the defects or mishappenings in the industry if any.
Connecting Products and Processes:
For manufacturing products that meet market demands, communication within a team is crucial. A digital thread helps you create an entire product lifecycle from designing to engineering to manufacturing to service. There is very little communication between the engineering and services teams in the manufacturing sector, which can lead to challenges like poor performance, failing to meet market demands, etc.
With digital thread, you can enable communication and product insights across the entire lifecycle and empower your teams with new analytics. When engineers and designers better understand how the product is performing and how its features are being used, they can quickly develop products that cater to customer’s needs.
KloudPLM has a chatter feature using which any authorized individual can post, repost, comment or chat with any team at any point of time. This makes communication between teams a lot easier and all chats remain at one place. This is a very nice alternative to the mailing systems that have been present in the market since long.
Enables Competitive Edge:
A digital thread can help you enhance product quality, regulatory compliance, traceability, and optimize product costs. In the manufacturing industry, every minor correction can significantly impact a product’s overall quality and performance. However, keeping track of data across all segments of the product lifecycle can help you stay competitive by minimizing time to quality, time to market, and taking proactive measures in the operations.
Changes can be costly and repetitive changes can impact your quarterly results. With KloudPLM, you are provided with a very effective issue management module which helps you capture, assign, track, analyze and act upon issues. The issues can either result in the form of CAPAs or change requests, making it a more responsible system for all the issues you enter into the system. With the markups functionality, the user now is made double sure about the changes he is going to make.
A digital thread is one of the significant trends to transform the manufacturing industry by equipping with the tools that lead to agility and innovation.
KloudPLM helps you break down information barriers and collaborate data across different levels of the product life cycle. As a result, you can easily extract valuable insights and transform them into actions that enhance your manufacturing operations. To start your journey with KloudPLM, schedule a demo with us today