How to rethink your value chain and adapt your manufacturing business with future trends
Manufacturing is undergoing a huge transformation. The arrival of technologies such as artificial intelligence, robotics, and 3D printing has reshaped how products get designed, produced, and delivered. In a nutshell, manufacturers found a new approach to creating more customized, efficient, and sustainable solutions for their clients. And while at it, they are improving productivity, quality, and competitiveness.
How does this new reality reflect the current state of the industry?
From where I stand, I see two unfolding scenarios:
Small manufacturers seem to face more barriers to adopting these technologies. Lack of skills, capital, infrastructure, and regulatory support play a role. Especially as they encounter increased competition from larger players who can scale up faster and offer lower prices.
For midsize and large companies, the process is smoother. Giants like Raytheon have shared how embracing digital transformation has impacted every function in their company and highlighted the importance of preparing personnel for it. “In the end, digital transformation is all about people. It’s about being able to work from anywhere and to leverage new tools to improve how we collaborate,” said Bill Gundrey, executive director for digital engineering and operations at Raytheon Missiles & Defense.
If this is the “now,” what lies ahead in the future of manufacturing?
I would say it transcends the adoption of new technologies. It is about rethinking the entire value chain, from product development to customer service, regardless of the size of the company.
We are about to enter a phase where manufacturers have to embrace a more agile, collaborative, and customer-centric approach. One where they respond quicker to changing market demands and customer preferences. Leveraging data and analytics to optimize operations, reduce waste, and enhance innovation is critical. So then again, adopting the digital technologies we already mentioned is pivotal to moving forward.
The future of manufacturing will also be about finding solutions to the problems industrial activities generate. Manufacturers will address issues like pollution, emissions, resource depletion, and social inequality. The starting point will be implementing more circular and inclusive business models for industrial production. For example, semiconductor company STMicroelectronics is using digital technology to bring their products to market faster while aiming to double their capacity by 2025 and become carbon neutral by 2027.
To wrap up, I believe that accomplishing this mission goes hand-in-hand with investing in the workforce. Any manufacturing engineer should be able to practice lean manufacturing or the agile methodology to change how their mass production processes work. By empowering them with skills and opportunities, they will thrive in the digital age and create a better tomorrow for all.
If you need support in taking off on your digital transformation journey, Verdusco Consulting is here for you. We have the automation talent you need to make your digital projects a profitable reality. Contact us here.
