JANUARY EDITION

A New Future of Innovation and Efficiency for Industrial Manufacturing


Insights Generated by Experts for Experts

Online SmartGroup™ Recap

Generated by 39 Expert Panelists

13 DAYS

5 POSTINGS

1,605 VIEWS

Distilled & written by:

Dennis Owino

Featured Expert Participant

Jackie Rauchberger

Head of Marketing

THEME #23

What are the top predictions for the industrial manufacturing industry in 2021?

RUNDOWN

2020 was a tough year for many enterprises thanks to the COVID-19 pandemic. The crisis has accelerated the adoption of digital technologies. The manufacturing industry is changing significantly. In 2021, Industry 4.0 will gain traction and the sector will become more flexible.

The COVID-19 crisis is redefining business models. The use of conferencing is growing and will become a more cost-effective method of doing many kinds of work (NPI, root cause FA, and even training).

Industrial manufacturers will look at conducting an in-depth assessment of their entire supply chains to mitigate risks primarily presented by COVID. They will focus on localizing the supplier base.

Consumer demand patterns have shifted dramatically. Industrial manufacturers will ensure they provide best-in-class customer experiences.

Employee safety will become a top priority. Industrial manufacturing companies will also focus on environmental sustainability.

KEYPOINT # 01

Digital Production Visualization Gathers Momentum
As the apprehensions around manual non-value adding activities continue, digitalizing production for better visualization of performance will gather momentum.

KEYPOINT # 02

Greater Shift towards Industry 4.0
As more businesses show a return on investment from "intelligent manufacturing" and advanced process control, there will be more and more shift towards incorporating advanced process control online.

KEYPOINT # 03

Demand Management Tools with What-If Capabilities
The economy globally has been impacted by the COVID-19 situation, further adding uncertainty. In such times, manufacturers should invest in demand management tools (forecasting with what-if scenario analyses).