Here're the Technological Innovations that Manufacturing Industry Should Adopt
Grow Your Business, Not Your Inbox
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
The advancing technology has eased the lives of people in a big way. From morning till bedtime, one engages with technology to complete daily errands such as cooking, washing clothes and shopping. With the increasing reliance on technology, companies are adopting high-tech tools to render faster and better services to customers. In efforts to gain an upper hand in the market, companies are now exploring untapped niches to entice more customers.
Since industries are changing globally, a series of setbacks have been faced by the secondary sector, essentially manufacturing businesses. The intrusion of digitalization has led to these changes in the industry.
What is Causing Industrial Changes in the Manufacturing Sector?
The manufacturing sector, also known as secondary sector, processes raw materials into new products which are ultimately employed by consumers. Similar to other industries, the manufacturing industry is also affected by the industrial changes that are taking place rapidly. These changes are adversely affecting the manufacturing industry and the causes of these changes are as follows:
• Excessive global competition
• The dearth of required energy
• Lack of skilled labour
• Complex supply chain
• Intricate global sourcing environment
• Increased focus on customization, thus putting pressure on the reconfiguration of software
• Decreased batch runs among small manufactures which, ultimately, reduces lift out for manufactures
To overcome these challenges, the manufacturing sector needs to adopt new technology innovations. By doing so, business operations will surge and improve in manufacturing businesses.
Important Technology Tools that Manufacturers should Use
To improve the production line, the manufactures can employ varied kinds of technology tools. Popular technologies such as cloud computing, artificial intelligence and augmented reality can upgrade any average manufacturing business and further, automate it. Besides the aforementioned software and tools, another array of tools is available in the market, which can improve the quality of manufactured goods and meanwhile, decrease the cost of production for the manufacturing firm.
1. Using the Total Lifetime Value Calculator (TLVC) for Generative Designs
As generative designs are changing, it becomes intricate for manufacturers, vendors and other sources in the manufacturing chain, to compare saving and expenses while applying generative designs in different deployment strategies. With TLVC tool, the manufacturers, as well as other participants in the manufacturing industry, can contrast strategies and then narrow down the best ones to deploy generative designs.
2. Employing Additive Manufacturing (AM) in Applications
AM is the new technology that will be turning helpful for manufactures in the offing. Essentially, it is called the standard form for applications in technology. For generating AM, objects from 3D models need to be assembled and meanwhile, subtractive technology is avoided.
By adopting AM, manufacturing businesses will view positive impacts in the operations and have a better insight into the industry. Further, it changes the very nature of PLM.
3. Deploying of Digital Factory Data
By employing digital factory data in the manufacturing unit, a manufacturer will be able to test how the increase in data will change revenue flow in networking services and connectivity. Further, he/she can see the impact of data in other segments—analytics, manufacturing platforms, security services and professional services.
4. Utilizing Autonomy Solution Provider (ASPs)
ASP is essentially a sub-division of technology which renders mobility solutions and navigation to various vehicles. By employing ASPs, the manufacturing units can focus and develop various things such as machine vision, artificial intelligence, sensor fusion and so on. In the later stage, companies can add the aforementioned components across various platforms. With this addition, ASPs separate retrofitted components from mobile root providers.
These tools can raise the production line of the manufacturing business and further deploy them with necessary components to adapt digitized transformation.