7 Predictions and Trends in the Manufacturing industry
Domestic manufacturing in the US is growing by four to five percent. At the same time, manufacturing companies are expanding their operational flexibility. How can your business keep up with the coming changes in the marketplace? These are the most expected trends and developments in the manufacturing industry.
1. SMAC Stack
SMAC stands for Social Mobile Analytics and the Cloud. Put these four things together and you get the SMAC Stack. It combines four tools that enterprises are using to drive higher customer engagement and achieve more efficiency.
2. Social Media
Manufacturers are increasing activity on their social media accounts, improving communications between producers and their clients. With social media, customers can compare products made by different manufacturers and then select and buy those products with only their smart phone or tablet.
Customers are not the only ones using mobile technology extensively. Manufacturers can use mobile devices to increase connectivity, making communication easier and allowing more efficient data sharing.
Eighty-one percent of manufacturers think big data has a positive impact on production and 65% think big data will drive business in the future. Using analytics, manufacturers will find new ways to save money on labor, production, maintenance, and customer service.
5. Cloud Computing
Cloud computing will provide manufacturers with greater visibility and control over the manufacturing process, improving quality control and performance management.
6. Greater Capital Investment
Manufacturers are making new investments in development and research. The investments will allow manufacturers to develop new tools, find new ways to increase productivity, and become more cost-effective.
7. Next shoring
As demand in international markets and developing countries continues to grow, manufacturers are likely to outsource more of their operations. Next shoring, however, allows manufacturers to develop products closer to where they will eventually sell them.