The current business climate is driving manufacturing companies to build a more digital and data-driven workforce. As the industry adopts more and more technology and influences the future of US manufacturing, what challenges do they continue to face, and how can they strategically steer their organizations?
Adoption of automation in processes and on plant floors
Industry 4.0 is referred to as the Internet of Things or IoT, and in the past few years, it has ushered in a new era of technology to change the way industry works, such as adopting robots.
In the meat processing industry, the implementation of automation has been relatively slow, but mainly because developing robots that can efficiently and accurately perform the work of human workers has proven difficult. In addition, there is a controversial history of robots in industrial facilities (the first robots in the facilities were placed in cages to prevent injuries). In recent years, several automation initiatives at meatpackers have been abandoned due to the increased waste of high-value meat. But the COVID-19 pandemic has prompted meat producers and other industries to adopt and integrate the technology.
Using data to improve the decision-making process
Most companies have access to the same set of data sources, such as website analytics or application monitoring, to make decisions. Other traditional data can be collected internally using metadata from emails, notes, and contracts to provide insight into communication trends and industry patterns. Alternatively, companies can follow the guide offered by the casinos online.
When supplemented with traditional data, the alternative data provides a unique insight into more accurate forecasts. A standard function of alternative data is to identify process performance and ways to improve net profitability. And while alternative data continues to become mainstream in the financial industries, other sectors are also reaping the benefits and adopting data-driven growth strategies. Due to their impact on the economy, production data is of particular interest to policymakers trying to understand forecasts and available opportunities better.
Due to personal COVID-19 limitations, 84% of recently surveyed manufacturers are using their website more often to acquire new customers – as opposed to 72% before the pandemic. As the use of technological advances increases, manufacturing leaders should be aware that their industry is one of the most targeted by cybercriminals. Research shows that cybercriminals are moving away from targeting the financial sector and are now targeting manufacturers. Moreover, according to the EEF (formerly the Federation of Engineering Employers), more than 45% of manufacturers were victims of a cybersecurity incident.
Online videos and chats are now more visible, so make sure your employees use secure internet connections to protect your business and customers.
Manufacturers should at least have a secure website. Buyers, sourcing specialists, engineers, and other purchasing decision-makers expect a hassle-free and safe experience online sourcing suppliers and products. But, if your website isn’t set up with essential components like secure HTTPS encryption, and potential customers see a warning like an image below, they may turn to a competitor.