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You’ve heard of Industry 4.0, but have you heard of Inventory 4.0.? Manufacturing leaders are tackling supply chain issues with digital solutions. Leveraging Industry 4.0 solutions, a recent McKinsey survey showed 39 percent have implemented a control-tower approach to increase supply chain transparency. About 25 percent are fast-tracking automation to stem worker shortages. Steve Schulz, Ph.D., Associate Professor of Logistics & Supply Chain Management, said the program has taken a quick trajectory towards all the technology needed for this technological revolution.
Bulk solid materials are handled in many ways. One company may manage inventory and orders at the plant by local people. Larger operations may do inventory management at a corporate office miles away. Some even count on vendors to monitor inventory levels themselves and order material as needed (called Vendor-Managed Inventory). BinMaster products were designed to fit all these situations. BinMaster sensors are more accurate and hearty operating in a wider range of environmental conditions. Cloud software has evolved. It’s more intuitive, graphically friendly, and accessible by any device any where internet is available.
Food, consumer products, packaging…nearly everything…involves the use of bulk solids at some point during their manufacture. In the retail world, inventory record accuracy costs an average of 1.75% loss of revenue. Their suppliers also suffer up to 0.73% loss of revenue. In a world of Industry 4.0...
