Benefits include reduced costs, improved quality, shorter lead times, increased flexibility, and better customer satisfaction.

Predictive maintenance uses data analysis and machine learning to predict when equipment failure is likely to occur, allowing for maintenance to be performed before issues arise.

Key components include sourcing, production, inventory management, distribution, and customer service.

Robotics improves manufacturing by increasing efficiency, precision, and safety, while also reducing labor costs and repetitive tasks.

Lean manufacturing is a systematic approach aimed at minimizing waste while maximizing productivity and efficiency.