As digitalization grows, so does the manufacturing sector. Now than ever before, manufacturers have the opportunity to use advanced manufacturing capabilities throughout the life of a product. However, the immediate and future of manufacturing is defined by the ever-evolving trends and technologies. These trends and technologies have an impact on both todays and future industries. As such, manufacturers must have a keen understanding of every current and developing trend. What is now a clear manufacturing path can be full of uncertainties tomorrow. The idea of having several product lines to cover industrial operations is no longer viable. Customers also want improved products and transparency from companies. Due to these and other things, manufacturers need to be a step ahead. Continue reading to discover the latest trends in manufacturing equipment.
1. Internet of Things (IoT). Internet of Things involves connecting unique devices within an existing internet infrastructure to achieve specific goals such as cost reduction and improved safety. IoT exists due to three primary factors: readily available internet access, small sensors, and cloud computing. Most companies suggest that IoT increases profitability. IoT empowers manufacturers to make informed decisions by providing crucial and real-time information. Currently, about a third of production equipment incorporates smart device intelligence. IoT provides companies with new opportunities for connected operations and transformation of business processes.
2. Predictive Maintenance. Any breakdown in equipment is costly to manufacturers. You will have to repair, deal with downtime, and even loose production. Studies suggest that a single hour of downtime costs over $100,000. As such, manufacturers need to look for a way that will ensure that all equipment is in their optimal condition. This is where predictive maintenance comes in to help. Predictive maintenance comes with several advantages. You will cut maintenance costs by 20%, improve the life of your machinery, reduce unplanned outages, and many more. Predictive maintenance uses performance metrics to monitor your equipment. You can use IoT to automate data collection to understand how your equipment works and when they fail. The ability to predict when you should perform maintenance will save you valuable time, money, and resources.
3. B2B2C. Previously, several manufacturers utilized the B2B (Business-to-Business) model. However, today’s manufacturers are shifting to B2B2C (Business-to-Business-to-Consumer) business model. B2B2C involves selling directly to consumers. Here, the company enjoys several benefits such as faster time to market, increased profit, brand control, better customer data, and price control. For you to sell directly to customers, you need to choose an e-commerce platform that supports both B2B and B2C sales operations. The platform has to deliver, secure payments, manage customer services, and track marketing activity. Your e-commerce platform should also provide you with a full view of all your B2B and B2C customer interactions. https://www.vooner.com/liquid-ring-vacuum-pumps/ is an example of such a platform.
4. Wearable Technology. IoT has increased the adaptation of wearable technology in the manufacturing sector. Most companies have now invested in wearable devices with different sensors that can be used by their employees. Wearable technology allows you to monitor, increase productivity, and improve safety. You can also collect crucial information, track workplace activities, and provide customized experiences depending on needs and desires. Most companies use wearable technology due to its portability, convenience, and operation efficiency.
5. 5G/Smart Manufacturing. The 4.0 industrial revolution is already here with us. Smart factories are now the norm in manufacturing. Smart manufacturing uses connected devices, artificial intelligence, and IoT for its business operations. Smart manufacturing allows devices to sense their environment and interact with each other. As factories of the future continue to develop, manufacturers need to understand that they must adapt to this change. 5G provides manufacturers with an opportunity to create new revenue streams. Tomorrow’s companies will rely on sensor technology and connected devices to guide operations. 5G has a high capacity, wireless flexibility, and low-latency performance, making it the perfect network to support manufacturing.
6. Cybersecurity. With so many connected devices, manufacturers need to understand how to deal with security. As technology grows and companies become more connected, manufacturing equipment and customers will be impacted. For instance, charging your phone on a nearby USB port can lead to severe consequences. Companies must educate their employees on cybersecurity. Every company must address its organizational concerns and implement a clear and effective cybersecurity strategy. With the rise of malware attacks and ransomware, manufacturers have to prioritize cybersecurity.
For industries to stay competitive, manufacturers must identify business needs, invest in technology that will meet them, and adapt to processes.