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Labor shortages, higher demand, and supply chain disruptions are some of the challenges manufacturers have to face. Manufacturers are turning to new technologies to become more resilient. These technologies also provide a way to grow despite these challenges.
As a new year starts, now is a good time to learn more about the top tech trends that are creating new opportunities in manufacturing.
The Internet of Things
The internet of things (IoT) isn’t new. However, it’s a technology that has reached a maturity stage allowing for significant cost savings. Companies often use IoT solutions to avoid downtime through preventive maintenance.
The IoT is also opening up new possibilities for transforming the post-sale cycle. For instance, the German company Weinmann now uses an IoT telemetry system in some of its medical devices to predict failure.
This technology can unlock new value for manufacturers. It can help them set themselves apart as partners for service and maintenance after a sale is completed. The IoT is also a cornerstone of our next trend: automation and remote manufacturing processes.
Automation and Remote Processes
Remote work was a defining trend for many sectors throughout the pandemic. However, manufacturers continued to rely on in-person work for most tasks. With most industries dealing with a labor shortage, remote manufacturing could become more commonplace in the future. In fact, Gartner predicts that companies will perform half of their manufacturing remotely by 2024, with in-person work needed only for specialized tasks.
Automation is making remote manufacturing possible. One of the most successful examples of automation is Tesla’s Gigafactory model. The automaker released impressive behind-the-scenes footage that shows hundreds of robots at work in its Shanghai facility. This factory has the capacity to produce 500,000 vehicles per year with fewer than 20,000 human workers.
Machine Learning and AI
Machine learning and AI have the potential to support better and faster decision-making. A machine learning model can help with predictive maintenance, reduce quality issues, reduce waste and result in more accurate inventory forecasting.
Rolls Royce recently transformed the quality inspection process for its engines by leveraging AI and machine learning. The manufacturer reduced data collection from 50 billion data points to 2 billion by identifying the metrics linked to failure. It used machine learning to set a baseline for each of these metrics. With this new model, Rolls Royce could spot an entire group of engines at risk of failing.
Additive Manufacturing
Exciting innovations are emerging in the world of 3D printing. Faster printing is now possible. Companies have begun using new materials, like glass. Some companies are also working on additive manufacturing at the nano scale.
Rocket Lab is a promising manufacturer that uses additive manufacturing in the aerospace industry. It has been providing orbital satellite launches and is building its Neutron rocket. This reusable launch vehicle uses 3D-printed engines to greatly reduce the cost of a launch.
Blockchain
Manufacturers have struggled to tackle supply chain disruptions. Blockchain technology could solve these problems to offer better sourcing and supply chain monitoring. Companies can also apply it to improve quality assurance, counterfeit detection and compliance.
The Re|Source Initiative is an interesting use of this technology that will launch in 2022. Four different organizations partner to provide manufacturers with more accurate sourcing data for the cobalt used in EV batteries. Their work results in a more ethical sourcing process and greater transparency for consumers.
Find New Partners in Innovation With IndustryNet
These tech trends will create new opportunities and help manufacturers address key challenges and seek new partnerships to achieve innovation. Looking for suppliers? Search, source and quote for free on IndustryNet.
