Professional Digital Marketer And Blockchain, AI & Machine Learning Enthusiast
As Kevin Ross from CyberArk puts it,
“RPA is one of the hottest technologies in the IT market today, mainly due to its potential to deliver huge benefits to companies.”
Many businesses are rushing to close the gap between production and demand for their services, especially after the COVID-19 disruptions.
What lies in RPA? Why is the main focus on manufacturing? What if you decide not to obey this trend? Here is everything you should know to help you make the best manufacturing decision in 2021 and beyond.
RPA, the acronym of robotic process automation, uses artificially intelligent software to handle voluminous and repetitive tasks. Artificially intelligent (AI) software is an application that mimics human reasoning ability.
For example, the machine can learn from its environment. It then applies its knowledge to accomplish the assigned task. More importantly, the more you expose the machine (computer) to the predetermined job, the better it finds ways of perfecting the work.
Work perfection means doing the task faster with fewer errors while aiming to improve the quality of the finished task with time.
By definition, a manufacturing firm is one that focuses on raw materials to create finished products. Manufacturers have been working in 3 main ways.
First, the manufacturers relied on past data to predict the volume consumes need to manufacture and stock it. This is referred to as Make-to-Stock (MTS).
Secondly, the firms waited for customers to order a particular quantity then assemble and dispatch. This strategy is referred to as MTO (make-to-Order).
Finally, a manufacturer can combine MTO and MTS by stocking the product’s basic components guided by past data. It begins assembling when a client submits demand. This strategy is baptized as MTA (make-to-assemble).
Here are the challenges of these traditional manufacturing routes.
The fourth industrialized world needs specificity. The rate of change of consumer interests has rapidly surged and is becoming unpredictable. Why?
With big data in place, companies and consumers can make buying and selling decisions in split seconds. Now, information spreads faster due to the connection of the world with social media.
A little negative response from clients can spread faster and block potential consumers from trading with your manufacturing firm. The solution is utilizing the power of robot software, as shown below.
With stiff competition and propelled change in consumer preference, it makes much sense to produce and sell faster while minimizing costs. RPA has continued to enable firms to achieve their missions in the following ways:
Betters Customer Experience
Customers in the 21st century demand immediate attention. They need goods now-or-depart your business for the competitors. Meaning, you must produce faster.
AI (artificially intelligent) machines can make accurate decisions in split seconds, producing world-class products that consumers need.
The machines (collaborative robots) can track real-time consumer behavior changes to help you adapt speedily to the changes. The chatbots can engage customers by replying to their requests instantly and in a manner that pleases the customers.
Robots don’t salaries to get motivated. With good maintenance, the machines can last decades without paying recurring expenses such as salaries and wages.
The initial investment in robots, which used to scare away manufacturers, has drastically reduced. This is an opportunity for most manufacturers to take a deep dive into RPA.
After owning the software, it reduces operating costs further by availing a conducive working environment.
They organize the workplace, take up risky tasks, and utilize various angles of the workplace. This reduces accidents and operating costs related to a disorganized manufacturing place.
Ability to produce faster, service your customers better while managing costs is an opportunity that no manufacturer wishes to miss in 2021 and beyond. That is the motivation behind sudden focus in RPA. If you have not rethought automation, you should do so soon.
Create your free account to unlock your custom reading experience.