There’s no escaping the need to embrace technology. No matter the sector you operate within manufacturing, the shift is fast approaching. Therefore, the majority of MNFT companies are working on modernisation, embracing Industry 4.0, and integrating advanced technologies into their business strategies as they prepare for what’s ahead.
The European Commission wants the coming years to be known as “the digital decade” and has put together a list of targets that it plans to meet by 2030, including a focus on how businesses will be transformed over the next few years. According to the plan, 75% of EU companies are expected to use key technologies such as AI, Cloud, or Big Data by 2030; meaning more than 90% of SMEs reach at least a basic level of digital intensity .
A Positive Effect On Manufacturing
Already, digital transformation is having a powerful effect on manufacturing. Known as Industry 4.0, the modern manufacturing business is now expected to be embracing the latest technologies, which can help to improve efficiency, productivity, and, ultimately, the customer experience, whilst helping to conserve costs.
Key technologies include cloud services, IoT (Internet of Things), simulation models, nanotechnology, and many more. These different technologies offer a range of benefits, including the ability to integrate systems with automation, making better use of available data, and real-time sharing of information across locations. IoT devices, for example, enable real-time, accurate monitoring throughout the production process, which can boost efficiency without raising costs.
As a result, the manufacturing sector has seen impressive growth in recent times, as investors recognise the potential of digital transformation. This is certainly welcome news following a dip in manufacturing profits caused by the Covid pandemic, in which many major hubs based in China were forced to close down their operations.
The Role of Digital Transformation in MNFT
To obtain quick ROI, district manufacturers and OEMs must prioritize digital transformation, as it has become a critical influencer of business outcomes. By using digital technology effectively, the manufacturing industry has improved global industrial issues, data-driven planning and supply chain efficiency through reliable operational methodologies that harness new-age technology.
For example, by leveraging predictive analytics and artificial intelligence, manufacturers can collect equipment data, enabling the application of real-time data obtained across the distributed value chain and manufacturing operations.
The fast-paced nature of the digital landscape, namely the emergence of Industry 4.0, means that wise business leaders will certainly be looking on with interest, in order to beat the competition by adopting the latest digital transformation tech.
Digital transformation trends in Manufacturing to look out for in 2022:
- Artificial Intelligence (AI)
- IIoT (Industrial Internet of Things)
- Cloud Transformation
- 3D Printing
- 5G and Smart Manufacturing
- B2B and B2C Commerce Cloud
- Navigate Hypergrowth With Morpheus
Navigate Transformation With Morpheus
Regardless as to what stage your organisation has reached in the growth cycle, the specialists at Morpheus can help you to achieve your transformation objectives. We are experts in delivering tailored talent resource solutions that can power your business’s development, particularly during the challenging the period of digital transformation.
Why not get in touch today at Morpheus Consulting Solutions Ltd, 85 Great Portland Street, First Floor, London, W1W 7LT (+44 (0) 203 589 0800) or Morpheus Talent Solutions Ltd, Spaces Maylands Avenue, Hemel Hempstead Industrial Estate, Hemel Hempstead, HP2 7TG (+44 (0) 203 589 0800) and discover how Morpheus can connect you with the talent your business needs in order to grow and succeed.