A Blueprint for the Real Time Enterprise
Manufacturing and production processes have had to be controlled and managed in real time from inception because they change in real time frames. This has been a natural premise of industrial systems from the very beginning.
A major shift in the business of manufacturing has occurred over the past decade which is driving the dynamics of the business of production and manufacturing into the real time domain. Business variables, such as energy prices, feedstock prices and even product prices have rapidly transitioned from highly transactional time frames into real time frames. For example, a decade ago it was not unusual for an industrial plant to establish a contract with its energy supplier that essentially set the price over an extended time period, of often 6 months or even a year. Today, in most parts of the world, long term fixed price energy contracts are not being offered and the price of energy can change multiple times in a day. The implications of this transition are clear. Industrial business functions must operate in real time to be effective and efficient. Industrial companies that do not move to real time business operations will be at a severe disadvantage in their marketplace.
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Author: Invensys, Peter G. MartinInvensys, Peter G. Martin | File Type: PDF