The Industrial Manufacturing Complex (IMC) in the United States continues to drive economic growth. Its success is fueled by continuous digital improvements that help untangle enterprise-wide business systems and processes. In this article, we will explore the top five industrial manufacturing trends that will shape the industry in 2023.
1 – Talent Management
Retaining and redeploying top talent is paramount to the success of IMC enterprises. Talent drives innovation, allowing top companies to thrive during challenging times. Today, these resources are limited and constrained, but the need for skilled talent continues to grow.
Investing in leading talent management processes, deploying solid human capital frameworks, and enhancing employee engagement can enhance the desire for top talent to stay. Modern talent management solutions can aid with performance feedback assessments and career development goals. Leveraging leading human capital cloud applications can enhance the talent management process and help retain and redeploy top talent.
2 – Supply Chain Automation
Raw and component material disruptions due to the pandemic caused enterprises to reassess their supply chains. Incorporating advanced analytics and predictive modeling solutions can aid in the “true” planning and modeling of supply chain demand and supply by leveraging data in all directions of the supply chain for more accurate planning and scheduling.
Nearshoring and reshoring manufacturing operations domestically can avoid future supply chain disruptions. Installing RFID tags for tracking products in the field, incorporating software and performance software in products, and using GPS improves customer support by assisting service teams in providing field maintenance and support. Implementing project-based cloud enterprise resource planning, asset management, and field service solutions can replace the web of complex technical solutions currently servicing the enterprise, allowing talent to access these enterprise systems from anywhere, anytime with cloud business solutions.
3 – Data Analytics
IMC enterprises excel at the collection and storage of massive amounts of data. However, only a few know how to leverage these “gold mines” of information. Analytical solutions that harness the data mines aid in the visual consumption of “real” costing information, customer performance, supplier performance, financial performance, and operational performance. This allows factually based decision-making for business and process improvement.
Incorporating shop floor manufacturing execution systems to integrate into the manufacturing and operating assets allows IMC enterprises to harness real-time data to aid in reducing downtime, fractional downtime, and inefficiency identification.
4 – Industry 4.0 and Automation
The replacement of legacy software applications with a comprehensive, integrated cloud business offering provides the foundation for continued cost improvements and operational efficiencies. Focusing on the deployment of Industry 4.0 and associated automation helps address the talent shortage by replacing activities historically performed by the skilled workforce, reducing errors, and increasing production efficiency.
Designing and deploying a predictive maintenance solution within the four walls of operations will assist the organization in identifying and avoiding costly downtime by identifying trends in asset and operational performance and addressing mechanical and tooling issues in advance.
5 – Digital Transformation
The final initiative is to unravel the complexity and focus on the core areas of the business. Initiating a strategic digital business plan will help eliminate standalone technologies. Harnessing solutions aligned to streamline the complexities of the business allows talent to focus on essential business aspects – selling, making, and servicing the products it makes without concerns about the technologies required to make it happen.
The future characterization of IMC in the United States depends on talent focus, increased supply chain automation, greater use of analytics, cloud business technology adherence, and a focus on flexibility and agility. Enterprises that address these trends will support talent management, supply chain planning, and data analytics needs while reducing the complexity of operations, thus streamlining the business model accordingly.