Information technology engineering services firm Larsen and Toubro Technology Services (LTTS) has launched a framework for the digital transformation of manufacturing enterprises.
Dubbed called Industry 4.NOW, the new framework will address scalability challenges, diminishing roles of humans and uncertain return on investments faced by the manufacturing industry across the globe while scaling their digital initiatives.
Industry 4.NOW adopts a solution-based, human-centric scalable approach to smart factories by deploying IIoT (industrial internet of things), the company said in a statement. Digital manufacturing strategies to a few factory lines or proof-of-concept don’t scale with certainty and the company's framework would address that by taking a holistic approach, it added.
According to LTTS’ research, only 9% of enterprises that used digital manufacturing strategies were able to scale the programmes at an enterprise level with uncertainty stalling innovation.
The engineering services subsidiary of Mumbai-based engineering conglomerate Larsen & Toubro said that it would adopt a return on investment-driven approach that accelerates the digitalisation. This could be achieved by integrating product lifecycle management, manufacturing operations, manufacturing engineering, asset management and product information management to create a value-based digital transformation roadmap.
The company's solutions include identifying production batch quality, predictive maintenance, factory design and simulation, energy management, downtime management and lean manufacturing techniques.
With the digitalisation of factories and industries accelerating with the adoption of IoT, the engineering services segment has been one of the fastest-growing verticals in the Indian IT services industry. The expected growth of 5G will also likely sustain the momentum in digitalisation.
In fact, industrial firms such as ABB now see software and services contributing to almost 50% of the value created by these firms.