IoT is only one of the many high-potential digital technologies. Manufacturing companies also have access to technologies such as advanced analytics, drones, AI, 3D printing, Blockchain, robotics, and wearables.
Fremont, CA: The manufacturing industry is certainly not slacking in reaping the benefits of the Internet of Things (IoT). IoT is changing many aspects of the way day-to-day operations are conducted. Manufacturers should make sure that factory operations are fit for the future to accelerate transformation. As a consequence, it is important that companies continue to adopt and leverage the latest trends and disruptive technologies to gain a competitive advantage.
Let us look at some trends ruling the manufacturing industry:
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Skills Gap - Manufacturers nowadays are facing the challenges of a shrinking talent pool - specifically in developed nations. Some roles would soon disappear, but these are likely to be the repetitive and tedious tasks best completed by robots. Other open positions would be the ones with high value and extensive use of knowledge to exploit the data within the system. Agile and adaptive change management is essential to allow one to effectively move between roles and obtain access to or develop the new skills they need.
Advanced Technologies - IoT is only one of the many high-potential digital technologies. Manufacturing companies also have access to technologies such as advanced analytics, drones, AI, 3D printing, Blockchain, robotics, and wearables. Every company's requirements are unique, so there is definitely no 'one size fits all' for the factory of the future.
Digital Transformation - It allows for every aspect of factory operations to be connected and monitored. This IoT data can be utilized to simply enable operational systems to improve performance or integrated with data from other enterprise systems to change how the entire factory and supply chain operates.
Monetization of Data - Data is an asset for companies in the manufacturing industry. Through applied AI and advanced analytics, data will provide user feedback, drive all processes, detect operational errors as well as improve the volume and quality of production output.
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