Latest Trends in Manufacturing Technology

manufacturing-technology

With the ongoing involvement of software in each and every industry, the apps and smart devices will surely make an impact in manufacturing technologies and some recent trends in manufacturing technology will redefine industry standards. In order to run a business successfully, these principles need to be applied to the manufacturing operations and also think about what each of these trends means for the target market.

Existing methodologies to be replaced by Green Manufacturing:

With more manufacturers focusing on going green, sustainable alternatives to traditional manufacturing will dominate the market. Green initiatives are essential for manufacturers to save money. With the tightening of availability of resources and raw materials, a circular economy is evolving.

Low-Cost Marketing and Funding Solutions to be explored as an alternative:

New products can be created with the help of new technology that can also be sold in new markets. More companies are still looking for cost-efficient methods to develop and test stereotypes. The solution to this may be social media and crowdfunding. With social media providing another channel for communication, it can be leveraged to gain insight and feedback for prototypes from customers and experts during the research and development process.

Offsite IT investments:

More and more companies are moving away from in-house IT departments. Cloud-based technologies are replacing outdated and legacy systems. Manufacturers are planning to launch new CRM tools. Enhancing cybersecurity and maintaining new system implies more companies will outsource their Information Technology services to third parties that provide additional value-added services.

Impossible to avoid IIoT ( Industrial Internet of Things ):

For initial investment reasons, a few companies have held out on implementing IIoT(Industrial Internet of Things) in manufacturing. However, this may not continue in the coming year. Any new system purchased will be connected to the internet. More companies will be able to lower prices by lowering the manufacturing cost, shipping and repair and replacements. The increasing use of wearable will also enhance the productivity of factories that use smart systems.

Traditional Inventory Management will be replaced by Customization:

In the year 2017, Inventory Management will rely on advanced computer analytics systems to manage inventory in real time. This will do away with shrink from theft, damages, and errors during shipping, reducing overhead and improving operations.

Responsiveness Will Become Synonymous With Real Time:

Responsiveness has always been a difficult task for manufacturers. B2B and Omnichannel sales are making this challenge even more difficult. Creating greater visibility and production speed are helping manufacturers to get good price quotes for new products. It also helps them to get products from the factory to the end user more quickly.

For more information contact iACT Global.