2024, a new year for Factor's innovation processes
As an industrial project in Europe, Factor faces the near future with the determination to gain in international competitiveness and adaptability to the technological challenges demanded by digital transformation.
To this end, we are immersed in a strategic plan whose main axis is called innovation, in products, processes and technologies; useful for improving solutions for our customers.
In the plan we are developing, there is a very specific line of action: the development of the Data Culture. Data in our business operations is the value that helps us to improve all business variables. Times, processes, materials, use of tools, machine availability, product quality, etc. Through data capture, analysis and visualization tools, we are able to generate the analytical capacity to improve processes and therefore, value for the customer.
One of the fundamental infrastructures for the development of this type of processes associated with ICT is the 5G. In this line, Factor collaborates with the Instituto Tecnológico de Informática (ITI) of Valencia to develop a private 5G network that will allow us to implement the applications and technologies that we are in the process of developing with better efficiency and productivity parameters.
These applications are associated, on the one hand, with the automation of the current lathes and numerical control centers, as well as new robotization projects that will help us to reduce times in preparation, loading/unloading and logistics processes. On the other hand, the low latency internal 5G network will provide our team with information and training in real time through augmented and virtual reality, as well as the necessary data for detailed analysis of industrial and business processes.
To this end, in 2023 we completed the implementation of Power BI, a Microsoft business intelligence service that has enabled us to customize new dashboards for data visualization by integrating multiple sources of information from our processes. In addition, the software helps us to make faster and more effective decisions thanks to advanced data analysis and the collaboration of team members who share these reports.
Herein lies our most important "tangible". The Factor team. Professionals who, thanks to their perseverance and ability to learn, develop an autonomous and collaborative work that allows us to improve 1% every day. This is the way. Small steps that improve our agility, the main Factor of our transformation.