Whether it’s taking a ride or getting instant medical care, smartphones have completely changed the way people live and do their daily tasks. Likewise, rapid changes in operating techniques and means of production have transformed manufacturing. Innovative companies like Tesla are the best example of how technology can materialize seemingly impossible ideas and change our view of reality. Modern food processing equipment, robotics, sensor technology and smart machines are no less striking.
There is something that drives manufacturers to constantly explore ways to improve efficiency and agility. Managing market volatility is one of the biggest challenges manufacturers face today. In order to successfully meet this challenge, manufacturing leaders need a solid combination of speed, agility and responsiveness. The characteristic of being agile and responsive can also help companies deal with a number of challenges, for example fluctuating raw material costs.
Most successful businesses focus on improving production processes and improving customer relationships. Small businesses are even paying more attention to meeting customization requests and improving productivity. Regardless of the size of a business, the manufacturer struggles to maximize capacity utilization and achieve annual cost reductions. The only way to achieve these goals is to carefully implement innovative production solutions.
Industrial automation technology indicates that opportunities for growth and profitability never fail. A business leader must identify the strategic opportunities and technologies that can offer the greatest potential for profit. It is also important that a new solution aligns with competitive differentiators and core capabilities of a business.
It is highly likely that by 2020, business owners across all industries will have invested millions of dollars in a wide range of automation and manufacturing technologies. Nanofabrication, 3D printing, artificial intelligence, smart machines and the Internet of Things (IoT) will dominate the future.
Investment decisions can depend on a company’s priorities and goals, market conditions and forecasts. The introduction of new technologies is subject to an in-depth cost-benefit analysis. The way to conduct a cost benefit analysis may vary from industry to industry.
Automation technologies such as robotic welding, smart sensors, quality control systems, metal fabrication, magnetic inspection, and material handling equipment can help businesses achieve the following goals:
Improved data availability
Faster responsiveness to customer expectations
Better employee engagement
Small businesses need to learn how to implement automation and improve productivity in a cost-effective manner. Manufacturing success now largely depends on how efficiently a company can adapt and meet market expectations.
Source by Basharat K