Key Points
Instances are aplenty in the realm of industry..
These steps will translate into an estimated 2-4% improvement in the steel sector's EBITDA and inventory reductions of 10 days or more as they improve client interactions, enhance service levels, and realise significant cost reductions in the long run.. Prominent Integrated Steel Plants like SAIL, RINL, Tata Steel, JSW Steel, JSPL, and AM/NS have seamlessly integrated Level 0 field sensors, ushered in Level-I and Level-II optimisation systems, implemented robust Enterprise Resource Planning (ERP) systems for production planning, and erected resilient communication backbones to enable vertical integration..
Core operations and maintenance areas can benefit from data analytics, augmented reality/virtual reality-based training and simulations, Industrial Internet of Things (IIoT), cloud-based computing technologies, video analytics, and other Industry 4.0 innovations, making steel production safer and more environmentally friendly...
The requirement of Iron ore, coking coal ,ferro alloys and others is expected to increase both in terms of quality and quantity . AI concepts need to be applied in exploring, identifying, and developing new mines by applying the vast available data with Geological Survey of India and the Indian steel plant...
With strategic investments, collaborative efforts, and a firm focus on digitalisation and the availability of a thriving Indian start-up ecosystem for developing focused software as a service model and tapping into ongoing revolutions in IoT, 5G, Drones and digitalisation, the steel sector will ensure the nation's progress and competitiveness in the global market...
