Nippon Steel to invest $1 billion in digital transformation
Nippon Steel in new medium to long term management plan has announced JPY 100 billion or more into its digital transformation strategy over the next five years, with the aim of becoming a digitally advanced company in the steel industry.
Specifically, the company will strengthen its business competitiveness by making full use of data and digital technologies and implementing the following production and business process innovations. First, Nippon Steel will realize smart manufacturing by utilizing advanced digital technologies such as Al and the Internet of Things in order to advance the innovative evolution of strength in manufacturing.
Through this initiative, Nippon Steel will expand the formalization and standardization of technology, including implicit knowledge of know-how, improve labour productivity through automation and predictive detection, and achieve production stability and further improvements to quality through the advancement of manufacturing technology.
In addition, Nippon Steel will establish a foundation for remote operations management that will ensure the same level of operation and quality at our overseas facilities as that in Japan.
Second, as a measure to improve customer responsiveness, Nippon Steel will build an integrated production planning platform from order to production to delivery, thereby strengthening its flexible and optimal supply framework.
In addition, Nippon Steel will develop a linkage relationship with supply chain information and other information, and work to create new value which Nippon Steel intend to pass on to customers.
Third, as a measure to enhance global management base, Nippon Steel will build an integrated data platform that provides real-time visibility of various management information and KPIs, enabling rapid improvement action and strengthening business intelligence, a data-based management support system.
This will accelerate Nippon Steel decision-making from the management level to the front line and improve problem solving.
