Unlocking Value in Manufacturing through Data Sharing

To realize the vision of the Factory of the Future, manufacturers are starting to implement advanced analytics and artificial intelligence in their operations. Leveraging these technologies end-to-end, from engineering to delivery, would unlock more value and innovation but remains challenging.

Advanced analytics and AI require large amounts of data from various sources to train decision-making and prediction algorithms. Not all manufacturers have sufficient data nor expertise to fuel these applications, so they need to obtain data from, and work with, other companies. This will help them improve their ability to anticipate problems and gain efficiency in their production processes.

Additionally, most manufacturers have low transparency into their value chains. Close collaboration is needed to understand product location, condition and authenticity. With more transparency into production processes, companies can not only provide better quality and new solutions but also prevent fraud, improve inventory management and respond to unexpected disruptions.

However, there are challenges the industry alone cannot address. Success will only happen if all stakeholders in production ecosystems come together and continue to solve important policy, standardization, and technology questions that data sharing raises. 

Shedding light on these issues, this project can help manufacturers make the best of their collective data and build successful data ecosystems in manufacturing by providing a tool to overcome barriers and achieve excellence, the Manufacturing Data Excellence framework. Drawing learnings from successful, value-adding data-collaborations around applications such as asset optimization and connected production networks as well as from an incubated pilot on carbon dioxide transparency along the supply chain, this framework will lay out prerequisites and principles for data sharing excellence, help companies assess their readiness and highlight key priorities to leverage data value.

To learn more and engage in this project, please contact memia.fendri@weforum.org

This project is run in collaboration with Boston Consulting Group.

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