ThinkIQ Expands Manufacturing Software as a Service (SaaS) to Include More Data FunctionalityApril 21, 2021 by Stephanie Leonida
ThinkIQ is aiming to bring manufacturers a bit closer to smart manufacturing with its new platform tools.
ThinkIQ is a software-as-a-service (SaaS) company that utilizes a cloud-based system to provide manufacturers with end-to-end data insights that can help transform processes required for Industry 4.0 manufacturing.
The company’s platform combines artificial intelligence (AI) and machine learning (ML) to provide visibility and traceability of products along the supply chain. Recently, ThinkIQ announced a suite of new solutions being offered through its SaaS manufacturing platform. The company provides its network of customers with data functionality tools in the form of its Visualize, Insight, Transform, and Enterprise solutions.
ThinkIQ and UST
Earlier this year, ThinkIQ partnered with UST, a company based in Silicon Valley specializing in the digital transformation of businesses through its IT services and solutions.
ThinkIQ's predictive analysis diagram showing how they plan to achieve smart manufacturing. Image used courtesy of ThinkIQ
UST has plans to use ThinkIQ’s platform to provide an enhanced product offering for its customers within smart manufacturing and consumer packaged goods (CPG). The platform can help companies like UST understand its raw materials and catch any product integrity issues.
ThinkIQ’s CEO, Doug Lawson, expressed his belief that the combination of UST’s expertise and the ThinkIQ platform will provide even greater traceability and visibility to help bring more connected, efficient smart manufacturing forward.
ThinkIQ’s New Platform Solutions
In a recent news release, CTO and CPO of ThinkIQ, Niels Andersen, commented, “The addition of the newest solutions within our platform will help manage the manufacturing process from supply chain to customer.”
ThinkIQ’s new platform builds upon its existing offerings and provides an even greater capacity for customers to monitor its data, stock, and overall supply chain efficiency.
Anderson added, “Having this truly transformative intelligence and insight into your supply chain helps organizations make smarter decisions about their processes which in turn makes them become more profitable and more competitive.”
ThinkIQ’s new Visualize functionality allows its customers to view data from multiple plants or facilities in one centralized area. ThinkIQ Visualize combines the existing data stream with on-premise gateways and connectors to provide this extended visibility.
ThinkIQ Insight provides users with a material-centric view of business operations. Image used courtesy of ThinkIQ
Customers can expect advanced visualizations, initial cause & effect identification, industry benchmarking, and cross-plant key performance indicators (KPIs).
If there are any issues concerning the product or material integrity, this functionality can help customers get to the issue expediently. Notifications and alerts can aid issue identification. Other potential benefits could include the reduction of recall risks and improvements to product yield.
Combining Machine Learning and Standardized Data
ThinkIQ’s next functionality, ThinkIQ Transform combines ML processing with a continuous stream of standardized and contextualized data to reveal root causes and effects. This is the final transformational stage in reaching Industry 4.0 Manufacturing requirements.
Manufacturing data is correlated to the most important metrics and processed using manufacturing-specific ML algorithms. Plant managers and control system designers can have a comprehensive view of operations from the beginning of the supply chain to the production line and beyond.
The last feature of the new platform is ThinkIQ’s Enterprize. It provides traceability of raw materials through to product delivery. This functionality can help optimize supply chains and provide real-time contextualized data throughout the manufacturing process.