Kerrie Jordan is vice-president of the group, product management in Epicor.
Eighty-six percent of manufacturing leaders Believe that the technologies they adopt today will be the main engine of competitiveness over the next five years. However, for many manufacturing leaders, navigating in this rapid change in pace may seem overwhelming, in particular with limited resources and the need for a clear return on investment to justify investments.
Today’s manufacturing companies need sustainable growth in an increasingly competitive market. This can happen by investing in technologies such as artificial intelligence, automation and intelligent factory technology that can optimize operations, increase efficiency and maximize return on investment (king).
The challenge is to know what to use and where to use it. Here is how technology can stimulate sustainable growth and maximize return on investment in your manufacturing organization.
Current feelings on technology in manufacturing
With efficiency, cost savings and the advantages that technology brings, manufacturing companies must have a strategy for the adoption of technology simply to keep the pace of industry – and go everything on technology can give to manufacturing companies The potential to become industry leaders. But all manufacturing organizations do not adopt technology in a way that can help them evolve and develop.
Regarding modernization, 39% of manufacturing workers and 52% of manufacturing directors say that their workplace is “very modern” compared to others in the industry, according to our Future of work in manufacturing report. Because managers have contributed to the adoption of leading technology in their organization, they probably see more efforts to modernize at work than their workers. However, their low modernization rating can be due to the fact that managers and workers see the technology that surrounds them all the time outside of work – AI, digitization, intelligent devices – which they may not see when they enter work every day.
With regard to technological investments, 49% of manufacturing workers and 65% of manufacturing directors said they are investing more than ever in new technologies in 2024, according to our research. Of course, if an organization does not invest in the integration of new technologies in the organization, workers and managers will say that it is not very modern. However, technological investments do not occur overnight and require a budget, planning, integration and training.
If the will is there, manufacturing organizations can benefit from many types of technologies, from factory operations to back office analyzes.
Current technology used in manufacturing
There are a number of technologies that have positive impacts on manufacturing today because they transform processes and stimulate efficiency.
Generative artificial intelligence (AI) is the most recent and most varied technology adopted in manufacturing, with a certain number of use cases between commercial units. AI can be used to analyze data from information that makes operations more effective and can generate better decision -making. AI can also help facilitate digital visualization technology so that you can more precisely model the processes before implementation. And AI can be used to optimize employee planning, monitor machine maintenance and rationalize other processes that require specific planning, monitoring and logic. Overall, 76% of manufacturing leaders See AI as having the potential to identify ineffectiveness in production calendars, and 51% see its potential for forecasting the prices of raw materials.
Automation and robotics are technologies already well integrated into manufacturing factories that can alleviate manual and repetitive processes or perform tasks that can be dangerous for humans. Automation can reduce costs, speed up processes, improve safety and facilitate the manufacture of lights. Manufacturing organizations also use the Internet of Objects (IoT) devices and sensors to optimize factories by monitoring processes and environments and data monitoring so that improvements can be made. Sensors can also help also improve supply chains.
Technology that can maximize return on investment
In addition, technology can help manufacturing organizations maximize their return on investment through organization, forecast and more.
Business resources planning systems (ERP) are designed to collect data from the entire organization in a single centralized center. This gives manufacturing leaders better visibility on their operations to better understand their efforts and impacts. This includes information on the areas of improvement that can guide decision -making and maximize the return on investment.
Predictive analysis is another way to maximize the return on investment by analyzing the data collected from the organization and industry and by applying analyzes to predict the relevant perspectives. Instead of relying on intestinal feeling, manufacturing leaders can increase their expertise with data to make informed decisions on the next steps in their operations.
As mentioned above, intelligent factory solutions such as IoT and AI devices can monitor factory processes, environments and machines for improvements and maintenance that can cause cost savings. Companies that invest in “Smart Factory” technology see a Gain from 10% to 12% At the exit, use and productivity.
Technology that can improve sustainability
Finally, while businesses seek to increase their sustainability efforts and impact, they can use technologies like those listed above to help reduce waste, optimize energy consumption and improve the chain resilience supply. The long -term advantages of the integration of sustainable practices into technological progress include a better reputation of brand and regulatory compliance.
Build technological manufacturing today
Manufacturing leaders have many opportunities and many technology integration options in their organization. AI, automation, IoT devices, ERP, analysis and other technologies can improve operations, make factories safer, generate decisions, improve sustainability and create a base on which manufacturing can grow.
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