Manufacturers are constantly working to overcome challenges and enhance processes, with industry trends driven by technology, market needs and business goals. The ongoing effects of the COVID-19 pandemic, combined with advancements in automation and connectivity, are creating new opportunities and innovations. Read the blog to explore the latest manufacturing trends shaping the future.
Neutral Carbon Future
The World Economic Forum stated that the manufacturing industry contributes to one-fifth of global carbon emission and energy consumption with 54%. A large number of Fortune Global 500 companies are striving for carbon neutrality as the environmentally-aware consumers demand it.
This is why more and more companies are now turning to green, clean production methods to respond to these ESG considerations.
Rise of Smart Factories
The use of smart technology in factories has become more frequent and now more factories are using it for fully integrated system where machines are linked through data and monitoring.
When newer equipment with sensors is integrated to replace the older ones, the manufacturers achieve better efficiency, lower costs and preventive maintenance. Continued decline in costs and well understood advantages make smart factories critical in Industry 4. 0 era.
AI-Driven Factory Automation
Technologies like digital twins, AI, machine learning, AR and VR are transforming manufacturing by allowing remote monitoring, servicing and operation of equipment without being on-site.
With near real-time communication and enhanced computing power, these tools provide flexibility and safety, leading to fully automated “dark factories” becoming more common in the industry.
Bridging Skills Gap
Manufacturers are struggling with lack of workforce and increasing customer needs and expectations, thus there is need to improve efficiency. Because of increasing demands, organisations are required to assess their workflow and increase output while closing the skills gap with professional development.
In this way, manufacturers can meet the existing difficulties and maintain competitiveness in the industry focusing on operations improvement and workforce support.
B2B to B2C Shift
Improved technology and changing supply chain management initiatives are enabling the manufacturers to eliminate the conventional intermediaries including retailers and distributors by directly engaging consumers through the internet.
This kind of transition from B2B to B2C is becoming more frequent due to expansion of online shopping allowing manufacturers to have better connections with consumers and optimize their sale.
Data-Driven Supply Chain
The disruptions in the global supply chain drew attention to the weaknesses of conventional models and forced companies to work more on the issues of flexibility and dependability. Inventory management through data is one of the ways of realizing supply chain opportunities.
In general, manufacturers can reduce the impact of risks where they are uncertain and maintain business continuity, synchronizing changes with events in the field when data is utilized.
Future-Ready Manufacturing
By embracing these trends with a forward-thinking mindset, manufacturers can establish themselves as industry leaders and pave the way for a successful future. With the help of smart factory technologies, predictive maintenance, and digital twin application, manufacturers can increase performance.
Deciding to reshore strengthens supply chain management and paying attention to carbon neutrality demonstrates that manufacturers became more environmentally friendly and are ready to take on the role of leaders in the context of the climate crisis.
