The Future Of Modern Manufacturing Technologies – 2024 Review

Recognizing the trend of implementation of modern technology in the everyday manufacturing process is something we must all do. In this case, focusing on the elements that can boost results whole, improving the overall system of production in the minimum required time, is the primary goal.

Living in the IT age where consumer demand for personalized products and customized offers are a must, new options are necessary. Modern production processes find solutions in the disruptive technologies that are present on the market, along with procedures and measures, which are taken to ensure productive functioning.

When speaking about the introduction of smart technologies, we inevitably mention its overall benefits. The modern world of production has high hopes with the current implementation of 3d printing market options, advanced robotics, the Internet of Things, Blockchain market options, artificial intelligence, advanced analytics, and others to boost new manufacturing procedures.

Along with such expectations, the workforce is going to need readjusting their skills and education, with an accent to attracting new level IT skilled category of employees. We have done the research and prepared a few crucial elements that await the future of modern manufacturing technologies.

Advanced Analytics

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Look, fortunately for all of us, advanced analytics has proven its worth by putting the foundations for the future continuous growth of manufacturing intelligence. Meaning the experience and knowledge gathered from the production floor will be a contextual insight which adequately used with an existing production data, boosts the system of future process.  The rapid use of advanced analytics will eliminate any delays in production, predict the accurate timing for new-marketing actions for products, and guarantee quality with quantity.

Using the data will allow the analytics to recognize and pinpoint problem areas that require solving. Business intelligence will adopt this method as a proven way to reduce costs and increase profit in the production process. Such tool-kit will be a necessity for all who intend to stay competitive and relevant on the market.

Upgraded Maintenance Through Smart Technologies

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Maintenance is an essential part of the decision-making process of every company in this field. Down-time of production and the costs of repair is a constant threat, and assessing the state of critical equipment requires practical measures. According to the research, the down-time of the process at hand costs a significant amount per hour (over $90 000), and the mentioned equipment becomes a key priority for maintenance. The same study shows that over 85% of manufacturers rely on introducing real-time monitoring for boosting their predictive maintenance programs.

Whether for inventory control or improved scheduling accuracy of maintaining the productive level of the process, modern technologies increases the overall performance. The companies in this line of the industry with the adaptation of the predictive maintenance smart technologies have significantly extended the lifespan of the machinery, simultaneously decreasing the cost of maintenance over 25%, and lowered the unplanned outages around 60%.

For example, CNC production with the minimum required efforts in support and production reaching maximum results by automating the process. If you need quality computer numerically controlled equipment machine options, check this.

Robotics in the Industry

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Here’s the best part, the longly awaited implementation of robotics in this matter was a tabu topic too many years. Production companies have welcomed the idea with “open arms” and a clear managing strategy for the future. The study shows that advanced robotics will find its primary purpose in the manufacturing sector firstly, retail,  and health cair, expecting the increased growth of around $26.6B annually (2020-2021).

Industrial robots are a reliable and quality choice for manufacturing companies. The overall result concludes that lowering the potential of mistakes in the producing process, simultaneously increasing the human factor of productivity and efficiencies in the process. Note that the evolution of industrial robots will represent a key element in the future implementation of modern technology in production.

Blockchain Opportunities

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You may be wondering how and when do you include the Blockchain market? The truth be told, it has already been introduced in the manufacturing procedure exploring the vast field of Blockchain market opportunities. According to the study, the most significant growth of the market includes manufacturing technologies, media, and financial services. Finding different ways to implement the potentials of the market, connecting the existing machinery resulting in operational efficiencies, is the most significant plus here.

The expected financial growth in Blockchain manufacturing technologies is around 2.2B annually. Take in mind that the relatively new form of gathering, sharing, and using data and finances through particular rules, is an innovative procedure that is highly popular in the financial sector. And after that, in the production technology field, it is putting the foundation for continuous growth.

New Era of Employees

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Understanding the requirements of modern manufacturing technologies implies particular skills and mind-set of new employees. Let’s face it, applying and working in the manufacturing industry is not an attractive option today. The majority of people opt for a vast number of job opportunities in the IT sector as the primary target. Attracting the adequately educated and skilled workforce in the production focused companies is going to get harder with every year.

Manufacturers have to solve two questions in this part. The first is how to attract the properer workforce like app developers, 3-D printing specialists, and computer coders. Secondly, how to transform and use the existing employees to the current and future requirements of the manufacturing process.

Additional education of the modern manufacturing procedure is going to make the most of the present employee’s potentials. Firstly, the experienced workforce will appreciate the investment in their skills and education combined with their experience. Training the current and finding appealing positions in the modern manufacturing process is the suggestion of the experts.