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With the introduction of industry 4.0, the manufacturing industry has gone through a drastic change. New tools and techniques allow manufacturing companies to enhance their productivity, cut down expenses, gather essential business insights, and provide top-notch customer support.
According to industry experts, the next race will be to unite the human race with machines. The industrial revolution 5.0 is all about striking the right balance between the workforce and smart systems. The covid-19 pandemic has only exacerbated the adoption of intelligent technologies. Companies that leverage the power of autonomous systems will gain a fair share of the manufacturing industry.
Here are the top 4 trends that will dominate manufacturing in 2021:
1. 3D printing is on the rise
3D printing is helping the manufacturing industry to increase its production speed and become cost-effective. The rapid prototyping feature of 3D printing allows manufacturers to test initial product prototypes in a safe setting. The plus point is that companies don’t have to mass produce items and warehouse them. Instead, they can manufacturer items on demand. This feature saves time and cost.
Another benefit of 3D printing is that it significantly decreases the time to process tooling sets — molds, fixtures, and jugs — required to manufacture heavy equipment.
Also Read: How can ERP software help manufacturing companies enhance their operations?
2. Introducing employee safety measures will become mandatory
2020 saw the spread of the covid-19 virus globally. There isn’t a single place on the planet that hasn’t been affected by the virus. Millions have been infected and hundreds of thousands have lost their lives. The pandemic has also changed the business landscape. Employee safety has become the prime focus of businesses, especially manufacturing and supply chain companies, where people come in close contact.
Manufacturing companies will have to pay extra focus on safeguarding their employees’ health. They need to create employee healthcare plans, frame emergency policies, and provide immediate medical assistance to those who contract the virus.
It’s necessary to monitor who enters and leaves the facility and enforce social distancing measures to minimize the virus’s spread. For those who have to travel to different places frequently, manufacturing companies must provide a Personal Protection Equipment (PPE) Kit to lower the chances of contracting the virus.
3. Manufacturing companies are becoming B2C oriented
Manufacturing companies realize the benefits of becoming B2C companies. The following reasons explain why:
a. Higher profits: B2C companies sell directly to customers. Instead of selling their products at wholesale prices, manufacturing companies can sell them at retail prices and maximize their profits.
b. Better customer relations: B2C companies are in close contact with customers that allows them to understand their needs, wants, and ambitions better.
c. Excellent branding opportunities: Generally, third-party vendors dilute the original manufacturer’s name and often misrepresent the brand’s reputation. B2C companies directly interact with customers, which plays a significant role in deciding the final product’s price.
d. Less time to reach the market: The traditional route to market is long. It requires manufacturing companies to collaborate with vendors, suppliers, and distributors and respect the contract terms. But B2C companies can conduct market research, quickly prototype, test, and launch their products in the market.
Also read: How B2B Companies can focus on Improving Customer Experience Remotely?
4. The AR and VR market is hot
Until recently, customers preferred a professional to come onsite to fix equipment. They were apprehensive of repairing and troubleshooting by themselves. But the covid-19 pandemic has forced everyone to stay at home, including service technicians.
Customers are opening to the idea of remote-working solutions. This has been possible because of assistive technologies like Virtual Reality (VR) and Augmented Reality (AR) that allow service technicians to fix, replace, or repair equipment remotely. It diminishes the risk of contracting viruses for both — customers and employees.
Conclusion
New developments in technology are helping the manufacturing industry to grow rapidly. Companies are using improved tools and techniques to increase their profits, decrease their expenses, gather business insights, and monitor the market. You can keep in mind these top 4 trends that will dominate manufacturing in 2021 before making any essential business decision.
At Sage Software Solutions (P) Ltd., we are home to world-class ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. To know more about it, SMS SAGE to 56767. You can also write to us at sales@sagesoftware.co.in
Disclaimer: All the information, views, and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views, or objectives of Sage Software Solutions (P) Ltd.
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