Effectively managing asset performance has been an unrealized opportunity for asset-intensive industries. As a result, industrial downtime caused by equipment and process failure in just about every industry is still causing an ever-increasing and significant impact on manufacturing EBIT, production, and quality.
Assets and equipment are not being replaced or maintained optimally as they should be, which results in higher risks, larger costs, and adverse impacts on balance sheets. As we emerge from this terrible Covid crisis, this trend of “sweating the asset” is becoming more and more prevalent
Managing asset performance is a foundational capability for asset-intensive industries as they seek to make their operations more efficient, reliable, and safer. However, many organizations still see asset management as simply keeping track of asset data or more advanced maintenance, leading to several siloed applications and failing to demonstrate clear business value. In fact, fewer than 5 percent of companies have achieved an asset performance program that helps to optimize maintenance, operations, and asset investment decisions to achieve financial results. (can you add the source of this data?)
“The way we look at manufacturing is this: the U.S.’s strategy should be to skate where the puck is going, not where it is.”—Tim Cook, CEO, Apple Inc.,
Yet too many businesses are stuck with where the puck is – in terms of siloed views of the current state of asset data in form of graphs, charts, reports, and dashboards.
As we enter a new age of value creation through Industry 4.0 technologies, opportunities to take asset performance to the next level emerge through connected assets, the Industrial Internet of Things (IIoT), and artificial intelligence and advanced analytics technologies. For organizations investing in digital transformation, proactively managing asset performance should be a critical component of the strategy; Industry 4.0 revolves around innovations for operational excellence, which cannot be achieved without a proactive strategy towards managing assets.
However, merely implementing APM software will not drive operational excellence that Industry 4.0 envisages or drive the ROI that businesses strive for. Instead, the real value of asset management can be realized only when data from systems across the business are connected and correlated – from enterprise resource planning systems to quality, maintenance, inventory management, and operations systems, and including real-time data from assets. Because asset performance is affected by a gamut of parameters coming out of real-time health, operations, and enterprise systems, companies that fail to take a holistic view of asset management will all too often fail to harness its full value.
Connecting in real-time to assets and other sources, aggregating and correlating the data is by no means simple. But that is the first step in creating an asset management strategy that will deliver a complete understanding of your assets. Benefits include better worker safety and asset availability, less unplanned downtime, and improved throughput, leading to a reduction in overall costs.
Additionally, a holistic approach to asset management also reduces reliance on tribal knowledge. Since asset insights are based on data, they will augment your new workforce as your experts retire, not to mention the benefits of increased employee engagement and developing a data-driven, proactive culture.
But it is the predictive intelligence that is layered on top of the data that gets the leaders ahead of their competition. Rooted in their own data and based on models trained in that data, leaders can predict maintenance activities to postpone or prevent asset failure. Prescriptive technologies take businesses even further along in their journey of operational excellence, giving them the ability to prescribe operational changes to alter how equipment performs.
“Your data can do a lot more than what you think.”
Bring in connectivity. Put your data to work. But be quick in delivering intelligence based on the data. Always integrate the intelligence gains into your process flows. While data is fundamental, integrated intelligence vastly increases your ROI. Do not fuss about accuracy, scalability, or performance. Get started. Deliver value and improve continuously.Because asset management as you know it is changing. Intelligent asset management is where the puck is going.
The unprecedented impact of COVID-19 has proved that to innovate past the post-COVID-19 world, businesses require an ever-increasing velocity and scale of analysis to succeed in the face of unforeseen market shifts. The National Association of Manufacturers released the findings of a survey of manufacturing leaders examining the economic and operational impacts of COVID-19.
The survey highlights that 53.1% of manufacturers anticipate a change in operations and 35.5% of manufacturers are facing supply chain disruptions as a result of COVID-19.
To respond to change, activities in a production process must be continuously monitored and adjusted as needed. including purchasing of raw materials and the handling of inventories to maintaining the quality standards of the goods produced. Decisions based on continuous analysis of such processes empower manufacturers to predict, prepare, and respond in a proactive and accelerated manner to changing market conditions, including the likes of this crisis and its aftermath.
For manufacturers to lead the way, continuous intelligence is paramount. Gartner predicts that by 2022, more than half of major new business systems will incorporate continuous intelligence that uses real-time context data to improve decisions. A recently released report by ABI Research also identified Continuous Intelligence as a top technology trend to watch in the year to come.
Powered by advanced analytics and artificial intelligence technologies, continuous intelligence solutions improve the speed, quality, and precision of real-time and near-real-time operational decisions because they ingest higher volume and variety of quality data into the decision making process.
Moreover, these systems are able to process high volumes of data – both from IoT and other disparate systems – quickly, shielding your workforce from overload. Also, as the complexity and number of manufacturing assets increase, these systems are able to apply optimization techniques to evaluate far more options than a person could consider in the same amount of time. When done right, these systems also ensure better safety and distribution of your workforce.
Because it is possible to implement continuous intelligence at scale due to advances in device connectivity leading to an explosion of data from sensors, actuators, and other devices, processing capabilities in the cloud, and streaming technologies operating at scale. Further impetus is provided by the advent of 5G to the already-present physical layer technologies, with the promise of openness, better performance, stability, security, and implementation simplicity, for faster use of IoT data in continuous intelligence applications.
Effective continuous intelligence systems display these 4 characteristics:
Continuous Monitoring: Continuous intelligence systems run all the time, listening to and analyzing events as they occur, and making recommendations that require responses by persons or systems.
Continuous Improvement: It’s important to correlate business goals with recommendations to make sure the models are working correctly and if necessary, modify rules and analytics and re-run to get recommendations aligned with business outcomes.
Human Validation: People should be able to validate the intelligence periodically so that actions can be taken when recommendations do not achieve the desired results.
Common Understanding: Although each person may have a personalized view of recommendations specific to their role within the organization, continuous intelligence provides a common operating view of processes across the enterprise.
Continuous intelligence from Makoro™ makes asset performance recommendations to manufacturers so they can deal proactively with changes in market demands. Makoro™ continuously correlates and analyzes data from IoT devices, enterprise, and operational systems and makes simple, real-time, and contextual recommendations that can be directly used by your workforce.
Recommendations from Makoro™ relate to users’ job functions and past interactions and are delivered directly to where they can be acted upon.
Users interact with Makoro™ via simple Accept/Ignore actions, which feed back into Makoro™; Makoro™ learns from the user interactions and re-trains so the recommendations get better continuously.
The fundamental network structure of #5G, combined with #IIoT will deliver a slew of secure, fast, and reliable data-driven applications for the manufacturing and supply chain.
Lower latency, higher capacity, and higher speed in 5G networks mean thousands of more connected devices, resulting in more data and faster ingestion, thereby augmenting the impact of #RecommendationEconomy delivered through #ContinuousIntelligence applications like #MakoroAI.
We are excited to announce the launch of our #newpartnership! CodeData joins hands with Enterprise Infotech based out of Melbourne, Australia, on a Strategic Partnership Alliance for Makoro™ distribution and implementation in APAC.
Enterprise Infotech is a digital consultancy focused on providing a platform for new and innovative solutions to customers in the AsiaPacific region, especially in Australia and New Zealand. Through the flagship offering of ‘Digital Podium’, Enterprise Infotech enables businesses in this region to benefit from innovation happening around the world.
Rohit Shashank Kumar, the CEO of Enterprise Infotech says: “Makoro™ with its unique value proposition and AI/ML-powered, recommendation-based approach will be a great solution for the manufacturing companies in this region. Digital Podium will provide Makoro™ the required opportunity and at the same time offer local businesses an innovative solution for smart manufacturing.”
A key success measure in the automotive industry is order-to-delivery (OTD) time. To speed up sales and to lower costs, automotive manufacturers need to reduce OTD. In order to stay competitive, manufacturers must maximize speed, efficiency and quality in how products are developed, assembled and delivered to customers.
MAKORO™ – Predictive and Automatic Recommendations:
MAKORO™ helps automobile manufacturers achieve these objectives. It allows businesses to track and manage assets critical to the performance of the business, thereby supporting optimal performance and maintenance levels. MAKORO™ applications – Line, Care and Force – deliver insights and recommendations automatically and continuously, giving businesses the ability to improve manufacturing line, asset and workforce performance from a unified perspective. By managing both critical assets and human resources closely, companies can significantly reduce process inefficiencies while improving workforce engagement. Having top operational performance can make a huge impact on a company’s bottomline. MAKORO™ helps businesses improve uptime of manufacturing assets, manage compliance and create competitive advantages.
MAKORO™ Force – for the Workforce of Tomorrow (WoT):
Success of digital transformation in manufacturing and supply chain is centered on workforce training and change management. When it comes to workforce, the real challenge is up-skilling operators and maintenance engineers in the areas of continuous improvement, predictive maintenance and their understanding of how the line operates. For workforce managers the skill shift lies in refocusing their managing efforts from asset management toward proactively managing their workforce. Insights and recommendations from MAKORO™ Force delivers recommendations on continuously improving workforce productivity.
MAKORO™ Tab – Recommendations delivered:
MAKORO™ Tab securely delivers insights and recommendations relevant to connected workers – operators and maintenance engineers – on portable hand-held systems as well as on the web to improve workforce productivity. It allows workers to move freely around the factory floor and focus on other core tasks such as accepting recommendations and completing maintenance requests rather than having to monitor systems and machines. MAKORO™ Tab also allows supervisors and managers to review insights and recommendations on the web, in real time and act upon them instead of poring into reports and dashboards, understand data and make decisions.
Partner with us, let’s solve problems together. There is plenty of hype around #predictivemanufacturing. Solve some real problems and #makeanimpact with #makoroai.
How do you want to partner with us?
Be an Implementation Partner. Bring industry experience, MAKORO™ expertise and best practices to create impactful experiences that transform our customers’ businesses.
Be a Sales Channel Partner. Partner with our sales team as affiliates, resellers and value-added providers to maximize value for our customers.
Be a Value Added Partner. Provides value added services for MAKORO™ – Support and Training, Build Custom and Marketplace Applications for customers.
Why partner with us?
CONNECT. Join a fun community that loves solving problems. Push customer experience towards total digital transformation. Interact with MAKORO™ experts and other partners. Ask questions, join forums, and explore events.
LEARN. Learn how MAKORO™ uses Artificial intelligence and Advanced Analytics to solve the most pressing problems in manufacturing. Learn about product roadmaps and release timelines. Play with preview releases. Learn about new opportunities.
GROW. Differentiate your company and highlight the expertise of your employees in the industry and in MAKORO™. Lead larger customer implementations. Create success stories. Grow your business by being a part of our customers’ success.
What is in it for you?
Stand out: We offer several levels of MAKORO™ certifications so you can differentiate yourself in the marketplace.
Make impact: PREP – our partner enablement program gives you access to case studies, best practices and the partner portal. Use them to make impact for our customers.
Earn more: Last but not the least earn significant incentives on the value of the sale upon closure. Move up to Platinum if you are either Gold or Silver.
Makoro™ monitors assets and proactively provides maintenance recommendations. Such prediction reduces unplanned downtime and time taken to repair. This in turn reduces lost revenue and improves productivity.
Recommendations from Makoro™ are contextual and delivered at the point they are used so they can be conveniently accessed and acted upon. For example, maintenance engineers may get recommendations related to maintenance requests assigned to them on tablets while they are moving around on the factory floor, while maintenance managers would receive cost of service recommendations on their work laptops in their offices.
Businesses use Makoro™ to:
Reduce unplanned downtime: Makoro™ combines data from sensors with asset service history with parts inventory and workforce availability to schedule preventive maintenance for assets.
Reduce workforce cost: Predictive ability in Makoro™ enables businesses balance their maintenance workforce better, resulting in cost reduction.
Improve quality of service: Makoro™ predictively routes maintenance requests to maintenance personnel best suited to perform the job – onsite or outsourced, as the case may be. Thus maintenance personnel can ensure highest quality of service with minimal planned downtime.
Improve consistency of service: Makoro™ provides contextual recommendations to maintenance personnel to help them perform maintenance work on the assets with a reduced time, better quality and consistency. This results in higher mean time between failure, higher workforce satisfaction and higher customer satisfaction through better product quality.
Lower cost of service: In the process of routing service requests, Makoro™ analyzes workforce distribution across geographies and skillsets. Makoro™ also tracks other workforce metrics. This helps businesses reduce skill gaps and set up programs for workforce improvements. This also results in optimized workforce distribution and will lower cost of service.
Improve performance continuously: Makoro™ allows businesses to track their customer satisfaction indices, workforce satisfaction indices and indices related to quality and cost of service. Notifications are automatically sent out when these indices change patterns.
The advent of IoT and cloud-based technologies has increased the availability of data in #manufacturing. This data will allow businesses to monitor and control their processes at a much higher level of sophistication.
The availability of huge amounts of data also opens opportunities for advanced analytics and artificial intelligence which then empowers your manufacturing workforce to make objective, transparent, and more accurate decisions in day-to-day operations. We are not talking of analytics that leads to improved visualization representation. Real-time visualization of operations is important, but with Makoro™ we are going beyond that – we are building a decision support system for manufacturing. With advanced analytics capabilities in Makoro™, we are putting reports and dashboards behind us. It is no longer necessary for your users to drill, slice, or dice data.
Moreover, just because I mention AI and Advanced Analytics, you don’t need to hire data scientists, analysts, and teams of software engineers to maintain, operate and use Makoro™.
In fact, it’s quite the opposite.
With Makoro™, we display intelligence in the form of natural language recommendations in plain English (or whatever your language happens to be) so your employees can read and understand them easily. These are recommendations that will impact your asset operation and maintenance processes for now, and many other processes later as we keep building more. But if you happen to have a data scientist on your team, we do offer data and statistics to back up our recommendations that your power user can dive into.
You ask that’s broad – how can Makoro™ be everything for everyone?
But we are not building it broadly.
We are breaking Makoro™ down into specific problems. And for each problem, we are building Makoro™ deep before we go broad. That’s really the only way to build an artificial intelligence product. If you want to solve everything, even in a specific (and vast) domain like manufacturing, the product eventually ends up being a set of loosely joined projects. We are taking up asset performance at first and solving problems around that. That’s what the team is working on now.
At the core is Makoro™ Mind – our AI platform that is capable of taking in and analyzing super large data sets from a variety of manufacturing sources and applying machine learning and deep learning algorithms to the data. The resulting models are then used to derive insights and recommendations about asset operations, which are automatically incorporated into operational flows so that as data is received from your assets, our models generate recommendations that support your workers in making operational business decisions in real-time.
Using the capabilities of Makoro™ Mind we are building three applications: Makoro™ Line – which makes recommendations about asset uptime, Makoro™ Care – which makes recommendations about asset maintenance and Makoro™ Force – which makes recommendations about improving the productivity of operations and maintenance workforce.
All this with little to no data preparation or staging effort. Because we solve very specific problems you do not need to boil the ocean to prepare data.
And also because we have a Swiss Army knife. We call it Makoro™ Prime.
Prime automates data preparation tasks that you commonly need so you don’t break a sweat. It facilitates data preparation for your training needs. Prime understands data in all sorts of formats – the ones you use and the ones we use. You can use your data in your formats. Prime will take it – without type restrictions and without limitations on data volume. Once Prime kicks in, it will cleanse, aggregate, summarize and transform your data as required for analysis. And you will have complete transparency through the process.
Sitting on top of IoT and other manufacturing and enterprise systems MAKORO™ is being built to be the intelligent infrastructure that becomes the basis for industrial applications which will allow businesses to move to predictive operations and maintenance in the short and medium-term, and to solve more strategic problems like market expansion, product differentiation in the long term, which will eventually lead businesses undertaking personalized and sustainable manufacturing.
We are building Makoro™ for Cloud. For now. But we are looking for opportunities to bring it to the Fog and the Edge. Our goal is to have Makoro™ footprints in all computing environments.
Servitization is not actually a dictionary word – it is a concept that has come about recently while innovating on business models for manufacturers to engage more proactively and meaningfully with their end customers. It has been defined as “a process of building revenue streams for manufacturers from services”.
Why is servitization important?
Traditionally manufacturers have sold products and then sold services separately to maintain those products in the field. Parts and repairs would be charged to customers. In such a model customers may end up paying for poor product quality that results in more repairs. Rolls Royce turned this model on its head when it started offering customers an outcome-based service model for its engines as early as 2010 where customers pay by the hour according to the amount of time an engine is in flight. So if an engine is down, Rolls Royce absorbs the cost. This is a great example of servitization.
Few other companies have followed suit, while several other companies are playing the concept and evaluating how this model affects their business. This is not an easy shift for manufacturers because it involves adding data capabilities to their products and taking actions in real-time based on triggers received from this data.
How does Makoro™ make servitization easy for customers?
Inside the plant, Makoro™ is already monitoring the assets that make the products. It understands the asset parameters, maintenance history, fixes and failures, and product quality. Taking Makoro™ to your end customers to deliver proactive services will be the next logical step. Makoro™ will gather data from your product’s onboard sensors, analyze this data continuously together with the product service history and data from other enterprise systems to make maintenance recommendations for the product.
For industrial equipment manufacturers, using Makoro™ to manage their equipment in the field based on the condition of these equipment represents:
A significant reduction in service times
Efficient planning of parts inventory
Service workforce optimization
Ongoing services are used to make future predictive maintenance recommendations more accurate. However, the most significant value you derive is a better understanding of your end customer, which can open up a slew of new opportunities.
For Original Equipment Manufacturers (OEMs) of industrial vehicles, Makoro™ opens up the opportunity of additional revenue stream and direct customer relationship through fleet management. And if you already run a fleet, connecting to MAKORO™ will improve overall fleet planning and performance. In either case, adopting Makoro™ for your fleet will allow you to:
Improve ETA predictions for your customers with combined predictions from Makoro™ Care and Force
Gain real-time visibility into health and status of your fleet and monitor vehicle usage through Makoro™ Line. Recommendations will start appearing automatically when there is enough data about your fleet
Reduce Vehicle Downtime through predictive maintenance recommendations from Makoro™ Care
Enhance overall fleet safety with recommendations from Makoro™ Force
Makoro™ as a solution is well suited because it has the following features:
Advanced analytics, including machine learning and deep learning, which learns from data in the field and makes field experience continuously better for your customers
An open ecosystem for incorporating third-party tools and devices, which allows us to partner with your device providers or bring our own
Automated and continuous delivery of insights and recommendations so no manual intervention is needed
Comprehensive data governance so your data is secure in transit, and in our cloud or yours
Rapid data ingestion so you can be up and running in minutes
Support for different data types so we can understand and interpret data from a broad range of devices and enterprise systems
Role-based access so recommendations are delivered to users who can interpret and act on them quickly