A Look into Trends Governing The Future Manufacturing In Industry

⚡ Quick Answer

Six trends are reshaping manufacturing: smart factories that pair machines with data analytics, ESG moving into the corporate framework, IoT in the supply chain, data-driven prediction of order and maintenance, AI and AR/VR virtual monitoring, and employer-employee insurance as a retention tool. The common thread is that each one depends on connected devices generating data someone can act on.

1. Smart factories:

Now machines with the latest technology work faster and better. The link between machines and data analytics makes analysis simpler.

You can contact an IoT solutions company to make an automated factory. It will lead to effective maintenance.

2. Sustainability:

Environmental, social, and governance issues (ESG) play an important role in determining the framework for companies. It is prominent from the government, stakeholders, and customer perspective.

⚙ Correction

The published version expanded ESG as “Environmental, sustainability, and governance.” The standard expansion is Environmental, Social, and Governance — the S is social factors such as labour practices, health and safety, and community impact. Corrected above.

3. Supply Chain:

Adding IoT solutions & services to the supply chain can give an edge against competitors. Use technology to monitor and manage a supply chain.

4. Data-driven:

Machines, assembly lines, smart sensors, robots, and other devices generate enormous amounts of commercial data. Historically, manufacturers haven’t taken advantage of this wealth of knowledge. As more and more companies implement such connected devices and technologies, data analysis becomes crucial.

Manufacturers are using data to predict order, supply, and maintenance. It reduces downtime.

Sitting on factory data nobody reads?

Smart sensors are the easy part. The hard part is a data layer that turns machine output into a maintenance schedule. We build that layer.

Talk to Our IoT Team

5. Virtual Monitoring:

Artificial Intelligence (AI), Augmented Reality & Virtual Reality (AR & VR) help manufacturers overcome COVID-19 challenges by providing virtual monitoring.

6. Employer-Employee Insurance:

Employee health becomes a primary concern. Employer-Employee Insurance provides an advantage to both employer and employee. At present, this is more relevant. It draws and maintains employees.

Worth Knowing

Five of these six trends are technologies. The sixth is a financial product — an employer-employee insurance scheme is an arrangement in which the employer takes a life policy on an employee, valued mainly for its tax treatment. It is a real retention lever, but it belongs to a different category from the other five, and a reader arriving from a technology search will not expect it here.