Key concept of smart factory and its uses:

Smart factory can be defined as place where different devices are you used with the touch of Technology. Different digitalize machineries and equipment are used in order to improve the process of production. Smart factories advantages does not Limited just the production of good but it also include planning, implementing, development and making that product available. Smart factory is a combination of 4 areas. Number one area deals with the planning of a product. Second with the production process, then generating awareness and lastly communicating the technology across entire manufacturing sector. Smart factories are considered as the one of the best invention of fourth industrial revolution. Smart factory still considered as a vision as in many places they are still not been introduced. Smart factories is a study of different fields such as robotics, artificial intelligence, analytical data iot and iiot.

The most common advantages of smart factory:

One of the biggest advantage of smart factory is the efficient use of assets. As the technology is getting digitalize it is allowing the manufacturing industry to deal with large size of data. If the data is organized properly then it would be a great help in managing and using the assets effectively. In Smart industries any individual don’t have to invest so much time in in modified or implementing the data. Smart factory uses machine learning to identify the problem and to perform correct course of action.

Smart factory a cost effective solution:

The second most pleasurable advantage of smart factory is it cut off cost of production. Suppose if you hired labor for every work you have to pay higher wages individually and have to invest in many different areas in order to fulfill their needs. Whereas the digitalized equipments are used in smart factory that does not need any kind of wages. You just have to bear maintenance cost. There will be Low wastage of materials which means you can produce a product in half of the manufacturing cost.