The manufacturing industry is poised to see massive shifts over the next 10 years. Will you be ready?
Experts and pundits from all over the globe are all offering their takes on what the Industry 4.0 world will look like. However, the consensus is that nothing will ever be the same again.
But despite the fact that we’re entering (yet another) industrial revolution, there are a few things that haven’t changed.
Any manufacturing company that succeeds over the next 10 years will have to master these 4 long-standing challenges in the industry.
1. Maintaining Uptime
As the marketplace grows more competitive and more efficient, you can expect the overall output to reach sky-high numbers. However, that is also going to make any downtime more expensive than ever.
Right now, conservative estimates put the average cost of downtime at roughly $100,000 per half an hour in this sector. Who knows what that number could look like by 2029.
This places a higher-than-ever importance on maintaining and maximizing the equipment you’re using right now.
For example, if you have a mechanically coordinate measuring machine(CMM), you need to keep it in peak condition to ensure quality assurance. You can start right now by reading these CMM tech tips you can use to maintain your machine.
2. Marketing Complex Information
Tech isn’t just evolving on the factory floor. The tools that we use to promote content continue to change, which means marketing in the already-hyper-specific manufacturing sector is also poised to change.
A new report from The Content Marketing Institute and Marketing Profs reveals that41% of respondents have a documented content marketing plan. That number may seem low, but it is nearly twice the 21% reported last year. This means that the industry, as a whole, is getting more organized from a content perspective.
Not surprisingly, the ability to concisely communicate complex information remains one of the biggest challenges in the sector, with over a third (36%) of those surveyed saying they’re still struggling with it. However, this number has been slashed from 60% from last year.
Millennial-aged employees now make up the biggest percentage of the overall North American workforce. However, they are not flocking to careers in the industrial sector in the same way that Gen Xers or Baby Boomers did.
Manufacturing companies now find themselves selling their company to would-be applicants, while also simultaneously selling a career in this sector, as a whole. They need to position manufacturing (and their company, of course) as a lucrative, stimulating, and safe career option.
4. Employment Safety
Part of the issue that these companies have when recruiting young people is the idea that factory work is dangerous.
The industry has about 300 fatalities a year, which is a vast improvement from where it was a decade ago.However, there is always going to be a perception that sitting behind a desk is safer. So, many Millennials will opt to do that instead.
The 4 things we’ve covered today will drive the manufacturing industry as we enter the 2020s. However, if you take a closer look, they have all been important since the 1920s.
Committing to uptime, marketing, recruitment, and safety hasalwaysbeen the foundation of a successful manufacturing company. And they will be the pillars of prosperity in the Industry 4.0 world as well.