ERP Vendors predict the technology that will impact Manufacturers in 2024

Steve Brooks, joint Editor at Enterprise Times and Senior analyst at Synonym Advisory, shares insights from ERP vendors and their prediction of technology impacts in Manufacturing in 2024.

• Acumatica. – Debbie Baldwin, director of product management and manufacturing, at Acumatica, sees AI-enabled automation as key in 2024. She noted, “There are several ways manufacturers can embrace AI to their advantage in 2024. For example, utilizing sensor data for preventative maintenance, minimizing costly repairs, leveraging data to optimize production schedules, and employing digital twins for thorough product development simulation.”
• IFS – Bob De Caux, VP of Automation, IFS, believes, like many others, that 2024 is the year when AI will be widely adopted by manufacturers. He commented, “Manufacturing systems are becoming more complex, so AI-driven data pattern recognition is crucial for sharpening quality control, predicting equipment problems, and optimising production for fewer defects, higher overall equipment effectiveness (OEE), and significant cost savings.”
• Infor – Phil Lewis, Senior Vice President of Solution Consulting, Infor predicted that Intelligent Automation would be the technology that manufacturers look to deliver in 2024. Lewis commented, “Intelligent automation is comprised of RPA and AI. RPA has the potential to replace a great deal of manual, ruled-based, repetitive processes, bringing greater accuracy, faster, and freeing up time for teams to innovate and add value, and apply much needed skills to those areas where gaps exist. Ultimately, this means that production can be planned for with greater insight and accuracy, undertaken in the most efficient way, and with fewer errors to minimize waste and optimize fulfilment.”
• Rambase – “Rambase, whose Chief Sales Officer, Odd Magne Vea, responded to the questions and presented a very different, though valid, prediction around Cyber Resilience. When asked how manufacturers will develop cyber resilience, he answered, “In the present era of smart factories and digital infrastructure, cyber resilience will become paramount for all manufacturing companies. Ever-increasing connectivity and AI automation expose these enterprises, large and small to heightened cyber threats. A breach can disrupt production, compromise sensitive data, and incur substantial financial losses.  Robust cyber resilience strategies are essential to safeguard against evolving cyber threats, ensuring the uninterrupted operation of any organization which distracts from their true objectives. By prioritizing cybersecurity measures, manufacturing companies can protect intellectual property, maintain customer trust, and fortify the foundation upon which they’ve built their businesses over difficult years and decades.”
• Rootstock Software – Raj Badarinath, Chief Product & Marketing Officer at Rootstock, believes AI Decisioning will be most adopted by Manufacturers in 2024. He noted, “Today, manufacturers are accumulating data at a fast and furious pace. The only way for them to steer through the volume and velocity of this information is with a decisioning platform powered by multi-model AI as their nav system. This new approach—which blends various forms of AI/ML, business intelligence, and predictive capabilities—allows manufacturers to interpret data as incoming signals of demand and supply so they can adjust production capacity for optimal margins. Manufacturers can essentially speed-read market conditions to reliably fulfill customer orders, rapidly convert data into insights and actions, and continually optimize for efficiency and growth.”
• SAP UKI – Greg Moyle, Head of Energy & Discrete Industries, SAP UKI, was surprisingly conservative in his prediction, noting that “Cloud computing” will be the most adopted trend. The prediction may be an indication of the fact that large enterprises are moving to the cloud compared to mid-market organizations. It also, perhaps, reflects the success that the RISE with SAP initiative has had over the last two years. Moyle further explains, “2024 will see the manufacturing industry go ‘all in’ on industry 4.0 technologies. More and more manufacturers will transition to the cloud in order to scale up adoption of new and transformative technologies such as Artificial Intelligence and the Internet of Things to manage project workloads and improve end-to-end business visibility.”

For Full Article, Click Here