Glossary

This glossary will help you fully understand the ins and outs of the industry.

AIoT

The AIoT (Artificial Intelligence of Things) refers to applying AI to IoT-based technologies. In the industrial manufacturing context AI (Artificial Intelligence) has not a lot of use without the IoT (Internet of Things). This is a trend that is already happening...

Artificial Intelligence (AI)

Artificial Intelligence (AI) is intelligence demonstrated by machines and software. In manufacturing, AI is a technology that enables machines to ‘see’ and analyze the production environment and make on-the-fly decisions based on what’s actually happening on the production floor. AI is revolutionizing manufacturing by...

Cloud computing

Cloud computing is the delivery of computing services, such as servers, storage, databases, networking, software and analytics - over the Internet (“the cloud”) to offer flexible resources and faster innovation. It allows the enormous scalable computing resources as a service over the internet...

Connected factory

A connected factory is a manufacturing facility that uses digital technology to allow seamless sharing and communication between all devices, information and elements involved in production including people, machines, materials, kits and sensors...

Digital Thread

The digital thread refers to the communication framework that allows a connected data flow and integrated view of the asset’s data throughout its lifecycle, from raw material to end product. The digital thread concept enables…

Digital transformation

Digital Transformation in manufacturing is about developing digital capabilities while adopting Industry 4.0 paradigm, to gain an edge in today’s competitive market. The increasing competition in the manufacturing industry makes organizations to focus...

Digital Twin

A Digital Twin is a virtual representation, a digitalized version of a physical asset or process. This virtual representation is more than just a model of the physical asset. Thanks to IoT sensors, the twin can receive continuous...

Edge Computing

The edge computing framework is quickly finding its way into manufacturing, where these new technologies can potentially lead to massive productivity gains. Edge computing allows smart manufacturers looking to enhance the responsiveness of their manufacturing systems further. The key advantage of gathering analytics...

Industrial Internet of Things (IIoT)

The IIoT (Industrial Internet of Things) refers to any type of shop floor equipment that is connected to the internet as well as sensor technologies that collect and share vast amounts of data in real time by network connection…

Industry 4.0

Referred to as the 4th industrial revolution, Industry 4.0 represents the shift of manufacturers to automation and advanced technologies such as AI, cloud computing, machine learning, big data etc. Industry 4.0 solutions focus on…

ISO 27001

ISO 27001 is the international standard that outlines all requirements for the establishment and maintenance of a robust information security management system (ISMS). Its best-practice approach helps organizations manage their information security by addressing people and processes as well as technology. ISO 27001 provides a model for…

JIT (Just in Time) Manufacturing

Just-in-time' is a management philosophy, originally referred to as the production of goods to meet the exact customer demands, in time, regarding quality and quantity, whether the customer is the end-user of the product or another process further along the production line. Instead of building large stocks of what manufacturers think the customer might want...

KPI

KPI stands for Key Performance Indicator, and they are meant to do just as the name suggests - to indicate performance levels. KPIs are quantifiable metrics that offer insights into business performance and are important for manufacturers to measure specific metrics helping them focus on what’s most important. KPIs are used to monitor the performance of...

Lean manufacturing

Lean Manufacturing methodology originated in Japan and was derived from Toyota’s 1930 operating model. It refers to a collection of processes and tools involved in production working together to minimize waste and increase production efficiency. The Lean manufacturing approach is about the elimination of waste or activities...

MES

Manufacturing Execution System (MES) is an automated system used in manufacturing, to track and document the production process on the factory floor – from raw materials to finished goods. It provides full execution control, management and monitoring of factory-floor production and logistic processes. The data can be added manually...

MoM

Manufacturing Operations Management system (MOM) is the foundation for a digital smart factory, a holistic solution that provides full visibility into manufacturing processes enabling manufacturers to steadily improve manufacturing operations’ performance. As the evolution of a Manufacturing Execution System (MES), a MOM system consolidates...

OEE

Overall Equipment Effectiveness, or OEE is one of the common several important metrics manufacturing managers use to improve their facilities’ effectiveness and productivity, in attempt to produce more using their existing resources. OEE is intended to be a yardstick for measuring improvement. The measure includes machines, workforce, tools and...

Predictive maintenance

Predictive maintenance monitors the performance and condition of equipment during normal operation. It allows manufacturers to monitor their machine’s performance and plan maintenance and repairs ahead of time, to reduce the likelihood of failures...

Production Downtime

Downtime in manufacturing is defined as any period of time when a machine or work-station is not in production, which can result in production delay. The total amount of downtime a factory experiences includes any stops during production that cause a loss of revenue for the company. Downtime in production is separated into two different categories...

Smart manufacturing

Smart manufacturing is the way machines, computers, employees, materials, and software interact during production processes, relying on Industry 4.0 and IIoT-based technologies. By connecting the physical and digital environments…