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LS Electric Co. Ltd. and Microsoft Corporation agreed to work together for the development of innovative factory solutions. They signed a memorandum of understanding (MOU) for the partnership at the 2023 Hannover Messe Exhibition that was held in Germany from April 17 to 21.
Hannover Messe is an international event, a trade show for showcasing industrial transformation and innovation, especially in the fields of sustainability and digitalization. At the exhibition, LS Electric and Microsoft proceeded to confirm their deal by officially signing the contract.
As per The Korea Economic Daily, the two companies will work on enhancing data connectivity in smart factories. They will also focus on generating data insights for production facilities and carry out power efficiency reviews in production lines.
LS Electric and Microsoft will also delve into the application of Azure Synapse Analytics and Azure Machine Learning services for ultramodern manufacturing environments. This will also be used for the formation of up-to-date business models based on power data and smart energy.
The companies will also check if the smart factory systems like the Warehouse Management System (WMS), Manufacturing Execution System (MES), and Quality Management System (QMS) are properly providing necessary data for factory-specific issues such as defective products and out-of-stock items.
The companies confirmed that their cooperation would also go beyond the smart factories to include digital transformation (DX) businesses. Korea IT Times reported that through this business deal, LS ELECTRIC and Microsoft would promote extensive collaboration in the smart factory sector that will include verifying data connectivity, securing data insights to resolve problems at the production facilities, and more.
"We plan to secure the capability to continuously upgrade smart factory solutions that are globally competitive through our partnership with Microsoft," LS Electric’s managing director, Cho Wook Dong, said in a statement.
