Manufacturing
The manufacturing sector, like every other industry, faces its own set of obstacles. Although not all problems may be simply addressed, a significant percentage of them can be overcome with proper application of technology whenever possible.
Technology intervention in the sector is not new. The introduction of the conveyor belt altered how the assembly line would function, smoothly! Similarly, timers, counters, forklifts, robotic arms, and so on have aided in the creation of process-based industries (such as the manufacturing sector).
Technology intervention in the sector is not new. The introduction of the conveyor belt altered how the assembly line would function, smoothly! Similarly, timers, counters, forklifts, robotic arms, and so on have aided in the creation of process-based industries (such as the manufacturing sector).
Major Challenges of manufacturing industry
Forecasting Demand for Products
Inventory and project management
Improving Efficiency at Manufacturing Plants
Skilled Labor Shortage
Scaling up the business
Sales Lead management
Selling direct to customer
Maintenance and overheads
Increased Sales and revenue
Automation in manufacturing
The digital age has seemingly brought along many opportunities that businesses can leverage to make good of their investments. However, the industry still has to contend with many known as well as newer challenges – some technology-related while others are not so technical.
Ecology
• Switching off unused objects
• Use of green solution
• Renewable energy
Competitiveness
• Low manufacturing costs
• Use of innovative solutions
• Flexible response to fluctuations of demand
Flexibility
• Personalized products
• Efficient production
• Large variability in production control
Safety
• Software prevents defects
• Sensors protecting worker safety
• Immediate reaction
Productivity
• Solution to eliminate errors and wastages
• Produce more products
• Shortened cycle times
Profitability
• Advantages of mass production
• Optimized processes
• Low stock inventories and production efficiencies
Manufacturers can revolutionize their work using Industry 4.0 as it contains ample benefits. The major goal of Industry 4.0 is to make manufacturing and related industries more efficient, faster, and more customer-centric besides going beyond optimization and automation and identify new business opportunities and models.
