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Trending Technologies in Manufacturing

By CIOReview | Friday, May 25, 2018

The manufacturing industry is witnessing a change at unprecedented speed. In addition, this disruption has proved that it’s no longer simply about the survival of the fittest, but about the survival of the fastest and most flexible. The organizations to prevail will be those who can surf atop the waves of technological changes, rather than be drowned by them. In order to eliminate old barriers and seize new and emerging opportunities, manufacturers have primarily opted for cloud technology. As of 2018, cloud solutions currently provide the framework drive business and technological innovation in five areas as follows:

The Rise of Blended Businesses

The old-school model of traditional manufacturing is far beyond over. Currently, the manufacturers are going through the transition of becoming omnichannel retailers and service providers. As time passes, more will take on the role of distributors, owing to the retailers bypassing traditional wholesalers and buying directly from manufacturers instead.

Collaboration of People       

The IoT is currently at its peak in terms of innovation. But what about the collaboration between people? The full spectrum of stakeholders including employees, partners, and customers is fast emerging as a priority for manufacturers. Technologies around cloud, mobile, and analytics are opening new avenues to reinvent the customer experience along with the overall stakeholder experience.

Data-Driven Intelligence with Predictive Analytics

Several manufacturers have tried leveraging predictive analytics in recent years with mixed results. As of 2018, experts have predicted a large uptick in the analytic capacity as manufacturers capitalize on advanced data capture and algorithms for analytics on the rapidly growing volume, variety, and velocity of data

Innovation in Supply Chain Optimization

Although supply chain optimization is not a new idea, it is poised for a quantum leap in 2018 driven by technology. More and more manufacturers continue to embrace the “omnichain” model for unifying unifies internal and external processes across extended networks.

Future-Proof Flexibility

Manufacturers are aware of the accelerating pace of change throughout the industry. IoT has suddenly gained a real phenomenon that is rewriting the rules of high-performance manufacturing.

Check Out: The Manufacturing Outlook