NEXT-GEN TECHNOLOGIES DISRUPTING THE SMART MANUFACTURING

 According to a report, companies that fully exploit the innovations and advancements at the heart of the Fourth Industrial Revolution will have a significant advantage in navigating four long-term shifts that are critical to managing unprecedented disruption in the global manufacturing industry. With recent global events, particularly the COVID-19 pandemic, causing significant disruptions on a scale unprecedented in modern history, there have been calls for a "great reset" across all sectors of the global economy: a decisive set of actions that will not only deliver value to businesses, but will also benefit society as a whole. The way prominent corporations have responded to supply chain shocks that have revealed operational vulnerabilities exemplifies this. These businesses have taken advantage of the crisis to implement technological advancements and embrace new ways of working, allowing them to adjust swiftly during periods of upheaval while remaining viable and functioning.

Read More :- https://www.pukkapartners.com/insight/next-gen-technologies-disrupting-the-smart-manufacturing

Advantages Of Being A Part Of The Smart Manufacturing Environment

When you join an ecosystem, you gain access to innovative skills that can help you transform, as well as the collective wisdom of everyone. Today's producers must produce more relevant, better products at a faster rate to stay competitive. The stakes are high when it comes to leveraging new technologies and tech-savvy individuals to evolve production processes. Given the complexities, most manufacturers do not have these areas completely figured out, despite the fact that their future success is dependent on them. Ecosystems can assist firms accelerate their digital transformation, resulting in near-term growth and long-term strategic benefits. Furthermore, these ecosystems may have a direct impact on financial success.

Conclusion

Despite the economic downturn, now is not the time to slow down the implementation of smart manufacturing. Rather, the current circumstance appears to be ripe for digital technologies to alleviate many of the issues that manufacturers are facing as they try to keep their businesses running throughout the global pandemic. Companies who are continuing to invest in smart manufacturing in the current market situation are allocating an average of 36% of their global budget for all factory-related projects to smart manufacturing, according to the survey. The ecosystem strategy is effective, but it is difficult to implement. It usually necessitates a concerted effort that includes leadership commitment to smart manufacturing, an organizational strategy, strategic partners chosen to enable or give specific benefits, and continual nurturing of the partnerships and their shared goals.

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