In manufacturing businesses, shareholders, upper-management staff, and shop floor technicians all understand that the demands of running manufacturing operations both on a domestic and global stage cannot be ignored, particularly when exacerbated by the digital shift of a post-pandemic world.
There are various challenges the everyday manufacturer has to adhere to, such as predicting and managing disruptions on both the supply chain and shop floor. Mass production, standardisation, customisation and collaboration are ever-evolving for manufacturers, and require support that traditional legacy systems cannot provide.
Given the economic climate, it is possibly now more important than ever to maintain a fiscally healthy business model as a manufacturer. Britain has always been a vital player in the global manufacturing ecosystem - as of 2022, the UK stays the:
- 9th largest host of the global share of the manufacturing industry.
- 10th largest exporter of manufacturing goods.
- 5th biggest importer of manufactured goods.
- An employer of 2.5 million workers in the manufacturing sector.
- A producer of £183 billion worth of manufacturing products per year.
- 33rd for manufacturing GDP per capita.
And with no sign of slowing down!
Experts are placing tremendous importance on future technologies, predicting that “75.4 billion interconnected IoT devices will be in our daily life approximately by 2025.” With this much demand, manufacturers are realising it is critical to digitalise, modernise, and keep up with contemporary times by investing in the most efficient manufacturing production planning software tailored to their needs. Currently, buzz is being generated about the implementation of “smart factories” - integrating data, software, hardware, AI and human beings to redefine the manufacturing process.
What are smart factories? How exactly does their implementation change the manufacturing operation? What can they bring to the table to make life easier for manufacturers?
Learn about the benefits of a smart factory and how it can be a window of opportunity for your manufacturing business.
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