How Manufacturing Business Technology is evolving

Manufacturing business technology has come a long way since the industrial revolution, and it’s expected to grow even further in the years to come. The industry is becoming more efficient every year with new software, apps and other tech that allow factories to streamline their processes and cut costs. If your business still hasn’t adopted some of these, we can help you learn about all the ways manufacturing business technology has evolved, plus how it can save your company money and make you more profitable in the long run.

Smart Factories

In the past, many manufacturing plants relied on huge, expensive machinery that was often difficult to install and maintain. In contrast, smart factories have smaller equipment that is easier to use and can be connected through software platforms. This allows manufacturers to scale up or down production to meet demand without investing in additional machinery. Instead of hiring a team of engineers for every new product, companies can hire only those with the skills needed for the job.

The Internet of Things

A recent study by IBM concluded that over the next 10 years, Internet of Things technology will have an economic impact on the United States of up to $6 trillion. This makes sense because the IoT connects people, business, and things together to create a data-driven environment where devices can be monitored and controlled remotely. In other words, IoT creates a more intelligent and connected world.

Big Data and Analytics

Manufacturers are leveraging data analytics, big data, and predictive modeling to make better decisions and improve their production efficiency. There are many different types of software that can help with this such as visualization tools, inventory management systems, enterprise resource planning (ERP) solutions, and customer relationship management (CRM) solutions. In short, these solutions are helping companies be more proactive about their business.

Additive Manufacturing

Also known as 3D printing, Additive Manufacturing (AM) is a process for making three-dimensional solid objects from a digital file. There are two main types of AM technologies: Direct Metal Laser Sintering (DMLS), which uses an energy beam to fuse metal powder into shape; and Selective Laser Sintering (SLA), which uses an energy beam to fuse liquid plastic into shape.

Advanced Robotics

According to the Business Insider website, a new report suggests that by 2020, robots will be doing tasks formerly reserved for humans. This includes both low-skilled and high-skilled jobs. The report also predicts that by 2025, robots will take over about 75% of manufacturing jobs in the US. Robots are becoming increasingly intelligent and are designed to work alongside humans.

Cybersecurity

Increasingly, hackers are finding their way into the networks and systems of manufacturing businesses. Hackers can steal intellectual property, personal data, and even hold critical infrastructure hostage in an effort to extort a ransom. Cybersecurity breaches are becoming more common, with an average of 230 successful hacks per day last year alone. As hackers become more sophisticated, so must manufacturers to stay one step ahead.