The face of manufacturing technology is gradually being transformed by the digital transformation of manufacturing, ongoing convergence of IT and OT, and the usage of IoT in combination with several other technologies. Just like how the industrial revolution had an impact on manufacturing, now, digital transformations are all set to bring big changes in the manufacturing landscape. Manufacturing companies are now able to shift from traditional mass production to customized production with the help of advanced technologies. Furthermore, the highly dynamic consumer expectations and the advent of connected devices and platforms are driving the persistent digitization of the manufacturing process. Also, sustainable alternatives will replace existing processes, and manufacturing companies will soon find it difficult to avoid the Industrial Internet of Things (IIoT).
With several new technology trends paving their way into the manufacturing industry, business leaders must keep abreast of its benefits from a business perspective. Contact us for personalized recommendations.
Here are some of the manufacturing technology trends to watch out for in 2018.
Manufacturing companies are now pushing for green, sustainable alternatives rather than traditional manufacturing. Green initiatives are becoming essential components for saving money for manufacturing companies. The availability of raw materials and resources becoming tighter each day is giving rise to a circular economy. In a circular economy, recycled and reusable materials can be processed and used to reduce the cost of manufacturing items. Green manufacturing is one of the manufacturing technology trends that will grow in importance this year as green initiatives are pushing consumers toward companies that embrace sustainable motives.
Off-site IT Investments
In-house IT departments are becoming obsolete in the manufacturing industry. Cloud-based technologies are gaining more momentum and major manufacturing companies are planning to increase their investments in customer relationship management (CRM) tools. With the growing need to enhance cybersecurity, more companies will outsource their manufacturing technology and IT services to third parties who provide additional, value-added services. This change will also help small and medium-sized businesses to easily access the latest technologies with reduced investment requirements.
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Customization in Inventory Management
Traditional inventory management systems will soon become outdated in the manufacturing industry. Companies will soon revamp their manufacturing technology and inventory management using advanced computer analytics systems to manage inventory in real-time. This has a variety of benefits including reducing overhead and improving operations, eliminating shrinkage due to theft, and avoiding damages and errors during shipping.
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IoT and Industry 4.0
IoT is rapidly becoming an indispensable element in manufacturing technology. With the help of this connected technology, manufacturing companies have streamlined and simplified various processes. IoT in manufacturing technology can provide real-time inputs and alerts with which companies can easily detect defects or damaged goods. Such simple yet critical implementations of IoT helps reduce cost and wastage. Industry 4.0 is the current trend of automation and data exchange in manufacturing technology. This has given rise to smart factories in which cyber-physical systems evaluate the physical processes of the factory and make decentralized decisions.