As the manufacturing industry is transitioning into the digital age, it is gradually becoming a hotbed of innovation. The manufacturing industry accounts for about 70% of U.S. industrial research and development spending, contradictory to the popular misconception that manufacturers are slow to adopt new technologies. In fact, experts believe that digital transformations will redefine the future of manufacturing. Modern industries are increasingly getting automated and software driven, reducing the human intervention involved. The application of advanced technologies in manufacturing such as nanotechnology, cloud computing and (IoT) is turning tables for manufacturers in ways unimaginable a few decades ago. The use of advanced technology in manufacturing will help companies adapt to the ever-changing consumer demand, ensure shorter product cycles, and get the products quickly to the market.
Advanced technology in manufacturing
This technology is also known as 3D printing. Though 3D printing was initially introduced in the 1980s, the technology has garnered significant attention over the past few years. It involves processes that develop three-dimensional products. The end result of using this advanced technology is a high precision replica of an original design, which translates to less wastage in the production process and, in turn, saves manufacturers a significant amount of money.
Nanotechnology was initially employed in the aerospace and biomedical arenas. This technology is now being used to manufacture lightweight stronger materials for boats, sporting equipment, and auto parts. It is also used in the production of personal care items such as eyeglasses. This technology is believed to be of a significant importance in the future of manufacturing.
Industrial internet of things (IIoT)
IIoT is poised to revamp the future of manufacturing by redesigning the way in which products are designed, developed, and serviced. Advanced technology in manufacturing including smart devices, Internet-enabled machines, connected sensors, and machine learning within the plant provide data used to improve the equipment and process performance. IIoT also provides closed-loop product feedback, which, in turn, enables companies to gather usage data from products in the field to drive design and developments in the future of manufacturing.
Big data and predictive maintenance
Manufacturers can significantly increase their productivity and efficiency by using technologies that allow them to collect, process, and measure big data in real-time. These innovations include electronic devices that connect factories through the internet and web pages that double as dashboards for controlling the processes. By using predictive maintenance technology, manufacturers can predict snags and defects and thus cut downtime and costs. The future of manufacturing will witness big data and predictive maintenance in various aspects of the factory.
How can SpendEdge help manufacturers to stay on par with industry trends and redesign their processes to meet the changing market demands