With the current state of technology, we’re on the brink of an industrial revolution. Due to this, manufacturers will be able to lower their operating costs, provider better customer support, and get the job done much more efficiently than ever before. With that in mind, what are the top 7 manufacturing trends that will leave their mark on the manufacturing industry in 2020?
1. Predictive maintenance technology will reduce downtime
Those who are not familiar with the ins and outs of manufacturing often have a hard time imagining how much a single hour of downtime can cost. According to what the Information Technology Intelligence Consulting says, the damages can easily be measured in the hundreds of thousands of US dollars. The predictive maintenance technology is now advanced enough to allow for accurate condition monitoring, which should reduce the unplanned downtime by 50%.
2. Resource planning systems will streamline the process
Resource planning software is one of the key ways to attain an edge over your competition. MRP software has the benefit of providing real-time information, thus allowing you to adjust your business operations on the fly. By being able to make faster decisions in the manufacturing process, the chances of unexpected downtime can be reduced even more.
3. 3D printing will cut down the costs of manufacturing
With the power of 3D printing, certain machinery and parts will become much more attainable and cost-effective to make. Better yet, it will allow manufacturers to produce something on demand, thus eliminating the need for producing items in advance and having to warehouse them. Back in the day, putting together heavy equipment used to take months on end. Now, the same process can be completed at a much lower cost and be finalized within days.
4. Man and machine will team up to dominate the playing field
Modern assistive technologies such as augmented and virtual reality will allow man and machine to form a powerful alliance. It’s estimated that the manufacturing landscape will greatly benefit from this. VR, in particular, allows manufacturers to quickly visualize the final result of their modifications and tweak them before entering the production stage. Moreover, it can be used to quickly spot an error and reduce inspection times.
5. IoT will unlock real-time metrics reading
Imagine having your entire operation being connected to the internet. Well, thanks to the internet of things (IoT), this is gradually becoming a reality. Through cloud-connected sensors, the data gathered can be fed into an analytics app, where manufacturers can analyze it to make several improvements to the process.
6. Big data analysis will offer real-time insights
The data collected through connected sensors needs to be processed before it can be put to a good use. But with how powerful cloud computing has become, making the collected data usable is now finally a reality. By doing this, manufacturers can detect potential problems before they even arise, optimize production, and improve the overall manufacturing process by a great margin.
7. Leveraging supply chain will pave the way towards attaining a competitive advantage
While pricing remains an important aspect of staying competitive, it’s also about delivering more value than what your competitors can bring to the table. In that spirit, leveraging supply chain is a great way to attain a competitive advantage. Thanks to what the new technology allows for, manufacturers will be able to have more control over the inventory and more visibility. Customer satisfaction will be improved as well.
