CURRNT MARKET INSIGHTS

A VIRTUAL EXPERT PANEL DISCUSSES 2021 PREDICTIONS FOR INDUSTRIAL MANUFACTURING 

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SUMMARY - 1 MINUTE READ

Thought leaders in Industrial Manufacturing dedicated to exploring and understanding the latest trends, technologies, tactics and best practices tackled the top 5 predictions and trends in 2021 for the Industrial Manufacturing industry. 

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STATUS REPORT SUMMARY

2020 was a tough year for many enterprises due to the COVID-19 pandemic. The crisis has accelerated the adoption of digital technologies and 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 focus even more so on environmental sustainability.

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KEY POINTS DISCOVERED DURING THE PANEL DISCUSSION:

• Digital Production visualization gather momentum
• Greater shift towards Industry 4.0
• Demand management tools with What-if capabilities
• Greater use of Artificial Reality within factory
• Localization/Supply Chain risk mitigation

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FEATURED PANELIST - Abhijit B.,  H., Manufacturing Consulting SME & Digital Transformation

1. Digital Production Visualization Gather Momentum

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Extract of Abhijit B.'s insights and opinion:

In line with Industry 4.0 improvements, there are companies which have already graduated to advanced analytics and data science. However, there is a plethora of companies which still do not have a visibility of their own operations.

As the apprehensions around manual non-value adding activities continue, digitalizing production for better visualization of performance will gather momentum. Companies will be keen to embark on their Digital journey with basic connectivity and visualization.

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