Manufacturing and Industrial Trends

contract manufacturing

The landscape of the manufacturing industry is constantly changing. With industry experts always working on new technologies that digitize manufacturing, advancing changes possible become increasingly possible. Even now it is possible to produce highly advanced components, consumer products or virtually anything else on-demand and made exactly to order, that may have never been thought of a possible previously.

As always, along with technological advances come trends, in the manufacturing and industrial sector we are seeing a variety of these trends making their way now. Leasing vs. Owning is on trend currently on the rise. Traditionally, manufacturing companies that needed to produce products would have purchased the necessary equipment and set up a factory. Then, they would build and assemble the products according to their own standards, resources, schedules, etc.

Today, an increasing number of manufacturers will rent or lease equipment, rather than purchasing it outright.This can lower the cost of production while also increasing the process flexibility by enabling the manufacturer to use capital equipment cost-effectively. Especially if its requirements call for only a short run of production. Operations like this are among those many testing out these new ideas with smaller or non-critical parts.

Smart manufacturing, another term that could be considered a trending topic in the industrial and manufacturing industries today. Smart manufacturing is a concept for industrial operations that emphasizes applying and leveraging Internet-connected machinery to monitor manufacturing processes. The goal is to identify opportunities for automating operations and to access and apply data analytics, and thus to improve manufacturing performance.

To get the most out of Smart manufacturing, industry experts say it is important that you embrace the Industrial Internet of Things and all it has to offer. The Industrial Internet of Things is still considered a developing reality, however, the infrastructure being built now will continue expand and evolve to guide businesses in the 21st century.

Whether it is Green or Smart manufacturing, renting or leasing equipment or one of the countless other advancements/trends in the manufacturing industry, we can count on one thing…change is constant. While some staples will remain the same, it is important to stay on top of the latest technology without jumping into it too soon. That is what we pride ourselves on here at Precise! Give us a call for more information!

Posted on August 18, 2017. Categorized as . Tagged as .

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