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Manipal Journal of Science and Technology

Abstract

The adoption of digital technology into business has transformed the way manufacturers operate and deliver value to their customers. The ultimate aim of digital transformation begins with digital resources that can redevelop strategies for improving products or processes. Product Lifecycle Management (PLM) is a concept that tailors an enterprise to achieve specific outcomes. To be able to sustain in a world where digitalization is a buzzword, it would be imperative for organizations to be early adopters of technological advancements. Identifying the process wastes and eliminating them to improve the time-to-market would be a crucial deciding factor for any organization for the success of their products. With the advancements in sensors and computational methods, one can leverage these to collect and interpret the data from the real world to replicate their behaviours in the digital world. With seamless integration of machine-to-machine communication, cloud computing, and storage systems, the Industrial IoT (IIoT) provides a way to get better visibility and insight into the company’s operations and assets. This short paper focuses on the above-mentioned developments in the field of manufacturing and product development.

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