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There is a major shift in the way the manufacturing sector operates in 2021 due to the disruption caused by the pandemic in the last 12 months. Supply chains are deranged, stopping the flow of materials, and assembly lines are forced to halt operations due to the lack of workforce and parts. Employee health is also a serious concern as physical interaction has become risky.
This new operating paradigm drives the need for manufacturers to acknowledge these challenges by redesigning their processes, operations, and manufacturing IT solutions to be more agile and competitive. Furthermore, manufacturers have to plan their pandemic exit strategy by “Responding- Recovering - Renewing” to stay relevant and ensure they are not wiped out of the industry space.
IT integration into the manufacturing landscape, a revolutionary approach of the past decade, is now propelled with greater vigor. IoT has become increasingly common, and assistive technology such as augmented reality (AR) and virtual reality (VR) has made it possible for technicians to provide remote assistance by sending customers AR- and VR-enabled devices and walking them through basic troubleshooting and repairs.
Offshoring, which was seen as business expansion, is now looked upon with uncertainty. And the development of local, lower-risk suppliers to supply critical parts -in case of supply stoppage across borders- is encouraged. Reshoring and near-shoring have become the latest trend in the manufacturing space to ensure the supply of goods and services even amidst emergencies.
As manufacturers have to review these metrics and insights, they require data at a granular level from internal systems and external sources, which is then analyzed within the specific business context. Acquisition of data helps manufacturers glean actionable insights in near real-time and make intelligent business decisions.
To help organizations select the best Manufacturing Technology Solutions, we present to you CIO Application’s “Top 10 Manufacturing Technology Solution companies- 2021.”
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