1. Green manufacturing will replace existing methodologies.
Taking the 2016 election, manufacturers were not sure what the most appropriate investments would be. President Donald Trump's election seems to have revitalized efforts to bring more manufacturers back to the US, and the push for green and sustainable alternatives to traditional manufacturing will continue to dominate the market, says Stuart Hall of Global Manufacturing,
Green initiatives are more than just a political ideal. They are becoming essential components to save money for manufacturers. As the availability of resources and raw materials has grown stronger, a circular economy is evolving. Unlike traditional and linear economies, a circular economy takes advantage of product flows from both directions. In other words, recycled and reusable materials can be processed and used to reduce the cost of making articles. As a result, companies can continue to make a profit by keeping ecological motives in mind. In addition, green initiatives are pushing consumers towards companies that adopt sustainable ideals, so this trend of all recent trends in manufacturing technology will continue to grow in importance over the coming year.
2. Businesses will use low-cost financing and marketing solutions.
New technology can help manufacturers reach new markets and create new products. However, more companies continue to look for cost-effective ways to develop and test prototypes, and social media and crowdfunding may be the solution, explains Catalyst's Joe Birkedale. Most companies already have technologies to interact with customers, but crowdfunding and social media provide another channel of communication. This communication can be harnessed to obtain information and feedback for new prototypes of consumers and industry experts while in the research and development process. Thus, companies can eliminate costs during the design process and deliver an appropriate product in a timely manner.
3. More off-site IT investments will be made.
The days of internal IT departments are obsolete, reports Steve Menaker of the Cincinnati Business Courier. Cloud-based technologies are replacing legacy legacy systems, and major vendors are planning to roll out new investments in customer relationship management (CRM) tools. In addition, the growing need to improve cyber security and maintain a new system means more companies will outsource IT services to third-party entities, including third-party logistics providers (3PL), which provide additional value-added services. Ultimately, this push to outsource technology will make more technology available to small and medium businesses.
4. Avoiding IIOT will be impossible.
Some companies have maintained the implementation of IIOT in manufacturing for initial investment reasons, cyber security concerns or other issues. However, this will become an impossibility in 2017. Any type of new system purchased will have connectivity to the Internet, as long as the company has access to the Internet. Therefore, more companies will be able to lower prices through reduced manufacturing cost, shipping and repair or replacements. Meanwhile, increasing use of wearables will improve the productivity of smart factories by increasing visibility, reducing risk and ensuring accountability among employees. Ultimately, the age of manual processes and little knowledge has ended.
5. Customization will replace traditional inventory management.
According to the Global Dispatch, traditional inventory management operations will change in 2017. Inventory management will become more reliant on advanced computer analysis systems to manage inventory in real time. This will eliminate theft contraction, damage and errors during shipping, reducing overhead and improving operations. In addition, companies will be able to manage warehouses more efficiently by eliminating problems of overstocking or underestimation, and new technologies, including 3D printing, will make it easier to customize inventory requirements.
6. Receptivity will become synonymous with real time.
Manufacturers have always faced a battle with responsiveness. Business-to-business and Omnichannel sales make this challenge difficult. However, increased visibility and speed in production are helping manufacturers create price quotes for new products and get factory products to the end user faster. reports Louis Columbus of the supply chain 24/7. On the client side of the equation, better pricing will translate into better public perception and positive word-of-mouth marketing across social channels. In other words, the manufacturer's responsiveness will be synonymous with real-time commands from the end users. As a result, manufacturers will see increased communication and collaboration across the supply chain.