With the current economy, the geopolitical risks, and the pressure electric and gas corporations are now facing, the global manufacturing sector is set to have some major shake-ups coming into the new year. Undergoing unexpected or dramatic changes within the industry is nothing new, but it helps to be prepared.
In 2023, there are major trends on the rise for manufacturers to be aware of. Here is what to expect.
Pressure from both consumers and consumer advocacy groups is pushing companies toward green manufacturing. This is true even of supply chains. In particular, transportation and electricity are major contributors to pollution and greenhouse gases.
A greener supply chain is about more than just sustainable power or electric vehicles. Green warehouses use sensors to monitor electricity and water use, preventing excessive waste. Smart packing can ensure that space is optimized, allowing more goods to be shipped while conserving fuel.
Of course, it starts with sustainably sourcing raw materials. Businesses need to seek partnerships with those who are committed to ethical supplier standards.
But why stop with the supply chain? Waste can also be reduced during the manufacturing process using CNC machining. CNC machining produces high-quality, consistent parts.
For example, CNC machining allows for the creation of precision pins and shafts with little waste. These precision parts are essential to the automotive industry, the military, and any industry where high precision is required.
Cloud adoption will continue to increase, bringing with it additional analytics and features. Unfortunately, it will also bring the potential for greater security threats to manufacturing organizations.
Many manufacturers still think in physical terms, not realizing the risks presented when using newer software systems and cloud programs. Since 2021, the manufacturing industry was listed as one of the most targeted industries for cyber threats. If all of this talk about cybersecurity sounds like fear mongering, think again. Toyota's main supplier Denso was hit with a ransomware attack earlier this year.
Cybersecurity and cloud adoption are merely small pieces of something much greater. That something is the Internet of Things (IoT). IoT describes devices such as cameras, badge readers, and other smart devices. These devices are connected to each other within homes, offices, or other commercial spaces.
The Industrial Internet of Things (also called the IIoT or Industrial IoT) is different from traditional IoT. IIoT connects devices in industries such as manufacturing, power generation, and transportation. For many manufacturers, artificial intelligence (AI) and automation technology are also essential to IIOT.
The IIoT allows for smart sensors and actuators to gather data and provide real-time analytics. These analytics can offer predictive maintenance. Service technicians can be aware of potential issues before they become major problems that impact operational efficiency.
IIoT also allows for asset tracking. Manufacturers can track the condition and location of products throughout the supply chain. It can also lead to greater customer satisfaction. When connected products are used by consumers, the data collected can be analyzed, allowing manufacturers to better understand how customers are using their products.
In manufacturing, AI allows data to be used accurately, and at a much faster pace than the capacity of humans. AI has proven to be an asset when it comes to analyzing sources of error or responding to abrupt changes in demand in real time.
AI can also be used to validate whether intricate goods have been accurately produced by comparing the actual products to the intended design or prototype. This can be done with a high degree of accuracy, allowing for efficient quality control. By using AI to confirm the accuracy of production, manufacturers can ensure that their products meet the required specifications. This can help reduce waste and costs
Much has been made recently of The Great Resignation. A term used to refer to the massive exodus of workers quitting their jobs, often moving on to another company. The U.S. Bureau of Labor Statistics first started tracking statistics on quitting in 2009. During the pandemic, the rate of job quitting hit a record high.
Most of the talk around quitting has focused on frontline workers such as those in healthcare and education. However, all industries have been affected to an extent. Manufacturing is no exception.
Employees are leaving their jobs for better opportunities. What does this mean, exactly? It means better wages, better benefits, a better work-life balance, and better working environments.
The stress of the COVID pandemic and the lack of employee safety have acted as an additional catalyst for many workers.
On top of that, the manufacturing workforce is getting older. Some future retirees have years of experience. Losing them is going to be a big hit to the manufacturing industry.
Employers not only have to attract new talent, but they need to retain existing talent. Competitive benefits and a safe, positive working environment will help. Expect the difficulty of finding new and exceptional talent to be a continuing manufacturing trend in the industry in 2023.
Industries are forever changing, especially with the recent pandemic and a shift towards digital initiatives and standardized platforms. That's why you need Hartford's team of experts.
For decades, our products have satisfied tier 1 and 2 suppliers and OEMs. Our precision pins, balls, and bearings have powered motor vehicles, military equipment, medical devices, and even small engines. Wherever you go, you're likely to find a Hartford Technologies product.
We can help with your industry-specific needs. Give us a call at 860-571-3602, or fill out our form and request a quote.