If you know where the industry is headed, you put yourself in a better position to get there before anyone else.
Thanks to the break-neck pace at which technology has continued to advance, the top trends in manufacturing are no longer ones that only the largest businesses can afford to embrace. In the past, concepts like smart manufacturing and zero-touch automation required tremendous capital investment to take advantage of... but, thankfully, those days are over.
Where costs have dropped across the board, innovation has run rampant – leading to a best-case scenario for small and medium-sized manufacturing companies. All of this has ushered in not only a bold new era of productivity but profitability as well.
It is a fluid field and trends come and go at the speed of light. Because of this, manufacturers should not be surprised to find that the latest trends have emerged this year. Here are some manufacturing trends you must pay attention to by the end of 2022.
The Era of IoT and AI is Upon Us
Digitalization and Smart Manufacturing
The use of digitalization has become a large part of the manufacturing landscape. With the use of IoT and AI technologies, manufacturers have been able to automate many processes. This has reduced the amount of time needed to complete tasks. Thus, it has allowed manufacturers to move away from manual processes and focus more on production. A lot of manufacturers have been able to increase their efficiency with the use of smart manufacturing. Many manufacturers have embraced Industry 4.0 and have been able to implement the various technologies that come with the ecosystem. This has enabled them to make better and smarter decisions. It is not just about the production of products either. It is also about the operations of a company and how this can be automated. For example, smart manufacturing enables companies to track their components and ensure that they are working together. This helps to avoid any issues with quality. Moreover, it also ensures that the company can maintain a consistent level of quality. The use of AI has also allowed manufacturers to predict issues and make sure that they can make the right decisions. This has helped to reduce risks and make sure that each operation is done in the most efficient way possible.
Collaboration Among Supply Chains
Collaborative manufacturing is coming for you. The manufacturing technology that powers the next generation of products. It is already here to create faster more flexible production lines that can streamline supply chains and reduce costs while also improving quality and customer service. Look no further than the digital revolution. The same forces that have empowered consumers with an unprecedented level of transparency and control are now transforming the way businesses interact with their supply chains and suppliers. Collaborative manufacturing—the use of multiple parties in a workflow to produce end products more efficiently and cost-effectively—is at the heart of this digital transformation. If you are reading this, then you have probably already noticed how collaborative manufacturing is changing your industry. Even if you have not yet seen it, it is only a matter of time before you do.
Enterprise Resource Planning Software
Enterprise Software Consortium
The growth of manufacturing needs software to be able to manage various operations. This has always been true for large manufacturing companies that have a vast number of operations. It’s also now true for SMBs. To manage all of these operations, the manufacturers must use enterprise software. This enables them to work smarter as they can centralize their operations. In addition, they also have access to information that helps to track the progress of operations. There is also the need to reduce costs and improve the efficiency of a manufacturing company with the use of the software. Thus, manufacturers can use software to enable them to analyze the performance of their operations. This helps them to find areas in their business where they can explore cost savings.
The Future of Your Manufacturing Business is Born from the Technology of Today
With all three of these manufacturing trends combined, SMBs like yourself suddenly have access to a powerful weapon to wield not only as you fend off competitors, but on your quest to create a true experience for your customers that they will not be able to find anywhere else. From a research perspective, the manufacturing industry is highly dynamic. As a result, market developments within the manufacturing industry are often unpredictable. These developments include emerging technologies and business models, which are likely to augment the adoption of the trends. Therefore, businesses within the manufacturing industry need to remain up to date with the latest developments in the industry. The manufacturing industry has undergone positive changes in recent years. The digitalization of the manufacturing process, the adoption of the 5th Industrial Revolution, and the collaborative manufacturing model are among the most recent changes. Manufacturers will need to stay on top of these trends to ensure that they are competitive in the market.
To further explore critical manufacturing trends like these, or to your advantage via custom solutions or functionality-rich ERP systems like Epicor or Acumatica, terrific – we'd love to help. Please feel free to email us today, send us a text, or give us a call to schedule a conversation.