Manufacturing has evolved dramatically over the course of the last two decades. Having said that, maintaining physical plants and integral supply chains remains as relevant as it ever has.
Technology is advancing at an amazing speed and this inevitably means that manufacturing is far more globally integrated than ever before. The challenges and complexities that we face across many production-based businesses is also dependent on the depth and type of talent that secures their future. To increase competitiveness and drive down costs, companies have also turned to continuous improvement efforts with Six Sigma and Lean Manufacturing as core principles. They have expanded their supply chains from a regional to a global platform supported by complex analytical systems.
Key issues facing manufacturers of today:
- Internet of Things (IoT)
- Contract Manufacturing
- Data & Analytics
Most manufacturers struggle to keep up, let alone stay on the leading edge. The future of manufacturing is undoubtedly advanced technology and talent – with talent being seen as the top driver for competitiveness.