Smart Manufacturing: Maximising Growth Through Data Optimisation

Smart Manufacturing: Maximising Growth Through Data Optimisation

Manufacturing Technology Insights | Tuesday, May 02, 2023

Smart manufacturing is paving the way towards a more data-driven, efficient, and sustainable future for the manufacturing industry.

FREMONT, CA: 👍The dawn of the digital era has transformed the manufacturing industry. The implementation of technology to enhance operations has become a vital factor in maintaining competitiveness and profitability. Leveraging data is critical for unleashing the full potential of smart manufacturing.

Manufacturers are placing greater importance on achieving profitable growth while maintaining high-quality standards of quality. Optimising the operations and processes in order to boost productivity and profitability while ensuring that product quality is not compromised.

Obstacles to Profitable Growth

Technology adoption is on the rise in the manufacturing industry. 80 per cent of manufacturers lack an all-encompassing solution for supply chain planning. A significant amount of effort is required to encourage businesses to integrate advanced technology into their production processes. Cybersecurity risks are a noteworthy concern for manufacturers looking to implement smart manufacturing initiatives. 45 per cent of manufacturers consider improved quality as the most important positive outcome they expect from technology. Improving the quality of products is critical for manufacturers to ensure their products meet the necessary standards and are of high quality.

Maximising the Use of Data

The implementation of smart manufacturing technology can assist companies in maximising data usage. In today’s data-driven world, companies must concentrate on making the most out of the information they gather. Smart manufacturing technology can help companies make better decisions, enhance effectiveness, and lower expenses. Technology is necessary to manage risks and foster growth in the manufacturing industry. Companies must partner with experts who possess comprehensive knowledge and experience in their industry, providing them with advice and direction in implementing a solution that meets their requirements, allowing them to achieve desired outcomes.

Positive Impact on Employees

Adopting advanced technologies can benefit both businesses and employees as it leads to job maintenance and the growth of manufacturers.

Smart Manufacturing in the Asia-Pacific (APAC) Region

𓄧 Almost half (44 per cent) of the APAC manufacturers aim to adopt smart manufacturing within the succeeding year.  While India, Australia, and China have already integrated some aspects of smart manufacturing into their operations.  The obstacle for APAC manufacturers is employee resistance to technological change, lack of skills to manage smart manufacturing implementation, and a lack of precise understanding of the value and return on investment of smart manufacturing. Industrialists have seen the most significant return on investment, in their quality management system, through smart manufacturing adoption, followed by the manufacturing execution system, and enterprise resource planning. Cybersecurity risks are a more consequential obstacle that all respondents, including those from APAC, are looking to mitigate with smart manufacturing initiatives. Manufacturers are progressively realising that they lack the necessary technology to compete with their rivals. Improving quality is the primary favourable outcome that manufacturers need to achieve with smart manufacturing initiatives. Technology adoption is expected to maintain or increase employment, with a third of manufacturers anticipating repurposing existing staff. The smart manufacturing industry is gaining momentum, with an increasing number of manufacturers adopting advanced technologies to optimise their operations and processes. The use of data is key to unlocking the potential of smart manufacturing and improving product quality, efficiency, and profitability. However, there is still much work to be done to ensure that companies adopt advanced technologies in their production chains and mitigate cybersecurity risks. The adoption of smart manufacturing technology can have a positive influence on employees, and companies should seek guidance from experienced partners to implement the right solution for their needs.

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