Manufacturing Industry: Agility Demands New Technologies with Urgency
The Manufacturing industry is very broad, and so are the new technologies that improve its performance. However, there is a maxim for 2022 and the near future: we must transform risks into advantages. This thought is key for manufacturers to maintain themselves at the vanguard.
Deloitte studies, based on the Oxford Economic Model (OEM), indicate a GDP growth in manufacturing of 4.1% by 2022. This “encouraging scenario” is motivating companies to incorporate new technologies, gain market share and expand into new markets.
Supply chains become extremely relevant for the Manufacturing Industry
The strategies for the supply chain in 2022 will be multiple. Various companies indicate that they will add or diversify their suppliers in existing markets.
When speaking of technologies, the integration of data for better visibility and planning of supply and demand appears as an imperative. It is important to highlight that this set of operational and visible data for all, provides greater knowledge in operations, from floor control, for example, to purchase of supplies or payment to suppliers.
Being able to bring together data from different facilities, production lines and equipment, visualizing supplier dependencies and their effects on overall logistics, adds significant value.
Digital supply networks and data analytics are powerful enablers for more flexible responses, especially when outages occur. Not “connecting the dots”, through the available data, can be catastrophic.
There is no operational efficiency without technology adoption
Manufacturers must bring theory to life and exploit existing digital capabilities, from functions on the factory floor to the CEO’s office. Being able to be more connected generates more reliable processes, which leads to being able to anticipate and not react to urgent events.
In terms of operational efficiency, year after year, investments in Industrial IoT are expected to be more massive and lower cost.
Let’s take an example. A manufacturer (for confidentiality we do not reveal its name) of heavy equipment, has been accelerating its convergence, ‘man, machine and methodology’, by optimizing using sensors (IIoT) to track assets and connect its machinery to the cloud, to allow information in real time on maintenance.
Others, for example, are transforming abandoned or highly precarious industrial facilities with Industrial IoT, robotics, automation platforms, and AI-enabled tools to support production.
And be careful with AI-based solutions. Investment in AI technologies is also expected to see an annual growth rate of over 20% through 2025.
Discrete Manufacturing is among the top three industries expecting to invest more in AI, mainly in quality management and preventative and automated maintenance.
The smart factory represents a disruptive leap, moving from traditional automation to a fully connected, flexible, personalized, safe and more productive environment.
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