In today’s world, it’s not uncommon for companies to be rich in data but poor in insights. Despite having access to a wealth of information, organizations struggle to properly analyze performance and drive transformational improvements. This is where ThingWorx Digital Performance Management (DPM) steps in to bridge the gap.
This week in your factory, you’ve applied maximum effort, pouring countless hours into perfecting your product. As the work week ends, a feeling of slight disappointment remains.
Could you have accomplished more? Where did it go awry? You may not be able to find the answers on your own, leaving your factory inefficient and operating below its full potential.
If this is you, look no further. With the capabilities of Thingworx Digital Performance Management, you will unleash an untapped potential of data and boost your manufacturing processes.
What is Digital Performance Management?
ThingWorx Digital Performance Management (DPM) is a cutting-edge solution designed to help organizations identify, prioritize, and improve production issues.
By capturing lost production hours and their causes, DPM indicates where to focus for the most critical impact. Also, it optimizes the finite time available, allowing organizations to reclaim lost hours and increase effective time by 20% or more. Thus, directly impacting the bottom line.
How Does DPM Work?
Consider a manufacturing facility that can produce one unit per hour. In a week with 88 hours worked, the facility manages to manufacture only 44 units. Let’s say 12 hours are lost through planned downtime and 14 hours are lost due to changeovers.
That leaves about 18 hours unaccounted for. Where did those come from? With ThingWorx DPM, you can quickly identify issues, and why they happened, and then take appropriate actions to fix them.
Moreover, DPM calculates and analyzes discrepancies, providing valuable insights to improve productivity. DPM is a comprehensive toolset that propels organizations towards peak performance by tracking performance, conducting in-depth analysis, planning, and validating improvements.
The Production Dashboard
One feature included with DPM is the Production Dashboard. The visual dashboard is a crucial tool for supervising shift performance and gathering vital data to inform reporting and analysis. It is designed for supervisors and line managers to track productivity across various production lines.
Some key features of the Production Dashboard include:
Provides insights into shift progress at the production block level
Allows for automated and manual data entry, including reason codes to capture all losses
And offers a simplified interface to minimize disruption
The Bottleneck Analysis tool is designed to automatically detect and monitor the most significant bottlenecks in your factory, providing valuable analysis and insights into OEE and OLE.
One of the challenges that customers face is a lack of visibility into bottlenecks, which leads to a disconnect between continuous improvement efforts and their impact on the business. However, bottlenecks are often dynamic and complex.
To address these challenges, DPM offers key capabilities to help identify and resolve:
Automatically identifying and tracking bottlenecks.
Systematic identification of the top constraints, which can significantly increase factory efficiency by 5-20%.
Management of the dynamic nature of competing bottlenecks.
Overall, DPM works relentlessly, making up for lost time by tracing the root cause of issues and providing precise remedies to ensure smooth and efficient functionality. Consider DPM an invaluable employee, working tirelessly around the clock without additional overtime costs!
Accelerate Problem Solving with DPM
DPM’s capabilities extend beyond surface-level analysis. By combining Pareto analysis and time loss analytics, DPM users can uncover and address a significant percentage of production problems.
For instance, a DPM user noticed quality losses between 3 p.m. and 4 p.m. Thanks to DPM’s automated analysis, the manufacturing team quickly determined that the issue was caused by a glare from the sunset, making the inspection camera unreliable.
All in all, DPM helped accelerate the problem-solving process saving valuable time and resources.
Reap the Benefits
Digital Performance Management is as remarkable as it sounds. DPM holds the secret to your production improvements and is ready to share them with you. Discover the plethora of benefits that are tied to DPM:
Standardized Measurement: DPM provides a consistent and standardized approach to measure losses, ensuring accurate evaluation of bottlenecks, and their impact on performance.
Efficient Root Cause Analysis: Leveraging AI technology, DPM identifies the root causes of bottlenecks and facilitates their permanent resolution, eliminating recurring issues.
Automated Problem Identification: DPM’s powerful AI algorithms automate the process of surfacing common issues, exponentially reducing the time spent on problem-solving.
Real-time Insights: What once took months to identify critical insights now becomes easily accessible through DPM’s intuitive interface, providing teams with immediate access to actionable insights.
Get Started with DPM Today!
In conclusion, if you want to revolutionize your performance management and take your organization to new heights, it’s time to embrace Digital Performance Management.
Remember, in today’s fast-paced world, those who leverage technology to gain insights and make data-driven decisions are the ones who thrive.
Are you ready to unlock the true potential of your organization with Digital Performance Management? Talk with an expert now to take your first steps toward success.
PTC’s LiveWorx 2023 was a huge success. EAC is proud to have been a Premier Sponsor for the leading technology trade show in Boston, MA that ran from May 15-18. LiveWorx brought over 10,000 attendees from all over the world to the Boston Exhibition Center (BCEC) to learn and share insights about today’s digital transformation for the manufacturing industry.
The exhibition hall was buzzing with energy as EAC’s booth was filled with great discussions and technical demos revolving around navigating the digital thread. As the #1 PTC Reseller and Solution Provider in North America, it was great to be back with PTC leaders and innovators under one roof while connecting with our customers and network, sharing how we help manufacturers in various industries.
With groundbreaking intelligence from PTC at the Global Partner Summit, to country star Dierks Bentley (wearing an EAC company ball cap), to hosting PTC’s CEO Jim Heppelmann at our EAC x Fishbowl Solutions Happy Hour, plus exciting guest speakers such as celebrity mountaineer Alex Honnold- LiveWorx 2023 was one for the (digital) books.
Navigating The Digital Thread with EAC
EAC Product Development Solutions is at the forefront of providing and implementing digital thread solutions for companies seeking to transform how they design, manufacture, connect to, and service their products. EAC’s advanced industry knowledge helps resolve pain points companies face from multiple facets throughout the product development lifecycle. Our experts at LiveWorx had seven successful IgniteTalx and Breakout Sessions that covered a wide range of topics, including:
- Creo Illustrate for AR Developers
- Minimum Windchill Implementation to Achieve Significant ROI
- Augmented Reality and Expert Capture
- Model-Based Definition
- Assessing Your Business Practices to Find Optimization Opportunities
- Rapid Prototyping Made Simple with Creo Additive Manufacturing
- Simulation-Driven Design with Creo Simulation Live
Thank you to everyone who attended our presentations and visited our booth at LiveWorx. We enjoyed meeting with you and learning about your manufacturing challenges, wins, and visions for the near future. We look forward to continuing the conversation and helping you improve your operations throughout the product development lifecycle. Thank you to PTC and our customers who joined us for LiveWorx 2023.
See you in Boston next year!
LiveWorx 2023 Photo Recap:
Digital transformation has become a buzzword in recent years, and for good reason. Companies that embrace digital technologies are more likely to stay ahead of the curve, differentiate themselves in the marketplace, and meet the evolving needs of their customers.
The benefits of digital transformation can be far-reaching, from improved customer experience to cost savings and increased efficiency.
In this blog, we will explore the various benefits of digital transformation, and why it is essential for companies to embrace this trend in order to remain competitive in the digital age.
What is Digital Transformation?
Digital transformation is a term used to describe the process of transforming an organization’s business model and operations through the use of digital technologies. It’s important because it can help you stay ahead of your competition, improve customer experience and attract new customers.
The benefits of digital transformation include:
- Improved customer experience: Digital transformation can help you better understand and meet the needs of your customers. With the use of data analytics and other digital tools, you can gather insights into customer behavior and preferences, and tailor your products and services accordingly.
- Increased efficiency and productivity: Digital transformation can automate many processes, reducing manual labor and freeing up staff to focus on higher-value tasks. This can lead to increased efficiency and productivity across your organization.
- Competitive advantage: By embracing digital technologies, you can stay ahead of your competitors and differentiate yourself in the marketplace. This can help you attract new customers and retain existing ones.
- Cost savings: Digital transformation can help you reduce costs by streamlining processes and eliminating unnecessary steps. This can lead to significant savings over time.
- Innovation: Digital transformation can open up new opportunities for innovation and growth. By embracing new technologies and ways of working, you can develop new products and services that better meet the needs of your customers.
See how JR Automation saved seven figures with embarking on their digital transformation journey:
Creating a Digital Transformation Roadmap
The first step to creating a digital transformation roadmap is to identify the scope of your transformation. What are you trying to achieve? What are the goals and objectives of your business? How will you measure success?
Once this has been determined, it’s time to set up a timeline for achieving those goals.
Once these steps have been completed, it’s time for action! You should now have a clear idea of what needs changing within your organization and how long it will take before those changes become visible.
Building a Digital Transformation Team
When you’re building your digital transformation team, it’s important to define roles and responsibilities. You’ll want to make sure that everyone understands their role in the process and what they are expected to do. For example, if someone is responsible for monitoring the performance of shop floor machines, they should know what the ideal OEE is of each machine, how they are going to collect that data, and how they are going to distribute it to enterprise decision makers.
It’s also important that you select team members who have complementary skillsets and experience levels. If one person has extensive knowledge of augmented reality while another knows nothing about it at all, this could lead to problems down the line when it comes time for them both to collaborate on projects together – and no one wants that!
Finally, creating a culture where collaboration happens naturally between team members will help ensure successful outcomes throughout your digital transformation project(s).
Adopting the Right Technology
The first step in digital transformation is choosing the right technology. You’ll want to consider:
Software: What are your current needs and how will they change over time? Will you need additional features or functionality?
Hardware: Do you have enough computing power and storage space for all of your data, or does it need to be scaled up or down depending on usage patterns at different times of day/year/etc.? Do you have sensors to track data that you need for production insight?
Tools: What tools do developers use to build applications on top of this platform (e.g., Creo vs. Solidworks)? How easy is it for them to integrate their code with existing systems like databases and messaging queues? Are there any security issues with using these tools – and if so, how can they be mitigated by using another tool instead (e.g., switching from MySQL database server software to Microsoft Azure).
Developing a Digital Transformation Strategy
The first step to developing a digital transformation strategy is to define the scope of the project. What are you trying to accomplish? What are your objectives, and how will you measure success?
These questions can help guide your organization through its transformation journey by setting realistic goals for both short-term wins and long-term gains.
Once you’ve defined what needs changing, it’s time for step two: defining how those changes will happen. This involves creating an action plan that includes timelines for each phase of implementation as well as resources required for each stage (e.g., time from IT staff).
Some companies may choose to tackle multiple projects simultaneously; others might choose only one area at a time depending on their resources available in terms of money/manpower/etcetera).
Implementing the Digital Transformation Plan
Develop a timeline. The first step in implementing your digital transformation plan is to develop a timeline with milestones that will help you track progress.
Set goals and objectives for each milestone. Once you’ve established your milestones, it’s time to set goals and objectives for each one of them so that everyone involved knows exactly what needs to be done at any given time during the project.
Track progress regularly by reviewing dashboards or reports generated from data collected during testing phases of development projects (if applicable). It’s important not only for managers but also employees on lower levels within organizations who may not have access
Monitoring and Evaluating Performance
Monitoring and measuring performance is an important part of the digital transformation process. It allows you to identify areas where you are successful, and areas that need improvement.
Monitoring can be done using a variety of tools, including:
Data Analytics Dashboards (e.g., Thingworx Analytics)
Digital Twin Performance (e.g., Augmented Reality)
Adapting and Adjusting the Plan
As you progress through your digital transformation, there will be changes in the market that you need to respond to.
If a competitor introduces a new product or service, or if something happens in the industry at large, it may change how you approach your own strategy.
You might also find that your goals and objectives have changed since they were first set out; perhaps there’s been an increase in customer demand for something specific that wasn’t previously considered important enough for inclusion on the list.
The best way to handle these situations is by reviewing them regularly with other members of your team – and making sure everyone has input into decisions about how best to adjust course as needed.
Communicating the Benefits of Digital Transformation
In order to communicate the benefits of digital transformation, it’s important to understand who your stakeholders are and what they want.
If you’re working in an organization with a large number of stakeholders (such as a government agency), then there may be multiple groups that need convincing. For example:
The board wants to see results from their investment in IT infrastructure. They’ll likely be interested in metrics such as ROI and cost savings.
Executives want quick wins that will help them achieve their goals, but they also need proof that this new approach will work before they can commit time and resources to implementing it throughout the organization.
Employees want something tangible they can hold onto when explaining why this change is important for them personally (and why it matters).
Digital transformation is a powerful tool that can help you achieve your business goals. It’s important to remember that digital transformation is not just about implementing new technologies, but also about changing how you work and think as an organization.
Digital transformation requires commitment from everyone involved in the process – from the C-suite down through every level of your organization.
To be successful, it must be an ongoing effort rather than a one-time project or initiative. You will need to continuously innovate and improve what you’re doing if you want to stay ahead of competitors who are also pursuing digital transformation strategies.
In conclusion, digital transformation is becoming increasingly essential for companies to stay competitive and meet the needs of their customers in the digital age. However, the process of digital transformation can be complex and challenging, which is why EAC assessments can be extremely helpful.
By conducting an assessment of your organization’s current digital capabilities and identifying areas for improvement, you can develop a roadmap for digital transformation that is tailored to your specific needs and goals.
EAC assessments can help you identify gaps in your digital capabilities, streamline your processes, and develop new products and services that better meet the needs of your customers. By embracing digital transformation and leveraging the expertise of EAC assessors, you can position your company for success in the digital age.
The internet of things and the capability to connect to the internet suddenly brings all kinds of new implications for products and their value.The internet of things is fundamentally changing how products function and how customers derive value from them.
How the internet of things is changing products and impacting what customers perceive as product value
Products today are becoming a combination of physical components, smart components, and connectivity components. Each of the 5 layers of the IoT stack plays a role — core product infrastructure, sensor systems, connectivity, analytics, and smart applications on an IoT platform.
While all three elements — Strategy, Connected Things, and true IoT platforms — seem somewhat elemental, balancing these will be central to the success of any IoT enabled business initiative.
For instance, look at a simple product, such as the light bulb.What is the product? In this case it’s the light bulb itself.What is the value of the product? I’m not talking about the monetary value, but rather the reason, need, or problem that drives the product purchase in the first place.
You might say in this specific case, the value of the product is the light that it provides, the illumination it creates, or perhaps the extension of functional hours it delivers.
What if we were to add connectivity to the product?By using an app on a device that controls the bulb via Bluetooth connection, you could now change the color of the light remotely.You could control the function of the light bulb with the sound of your voice.You could use the products new functionality to simulate the sunrise and replace your alarm.You could even sync the bulb to reflect your fluctuating stock prices! There’s a host of applications now available – just for a single light bulb.
Revisiting the original question, evaluating your new connected light, what is the product?Is it still just the bulb? What about the app that controls it, or the device that supports the application?It’s really an interesting question to consider.It’s really an interesting question to consider.For this same connected product, let’s talk about its value.
Again, I’m not talking the connected product’s monetary value, but rather the reason the product would be purchased in the first place.Would it still be just for the light or illumination, or is it the array of colors, new features and functionality?The fact of the matter is – the value of the product has changed.The connected product now adds value in the form of light, remote control, entertainment, and even overall experience.
Products and their value are changing
As a consumer shopping for an original bulb, you were most likely looking for a certain wattage or color (such as yellow or white) – not an experience.The connected product now adds value in the form of light, remote control, entertainment, and even overall experience.
Now that products are changing and you have systems of products: an app, a bulb, connectivity; the product value changes as well.You now have the ability to look for a light that can be synced to music or sound. A light that simulates the sunrise. A light that you can control from your device.You now need to weigh product value against a slew of new price points, features, and the support the manufacturer will provide over the years.
There’s no question that the value of products is changing because products themselves are changing. We’d like to help you map out this new world.If you’d like to do anything from brainstorm potential impacts to your business, develop a full strategy for IoT at your organization, create proof-of-concepts, or implement underlying technology… you’ve come to the right place.
We’re your partner in the ever-changing world of the internet of things.