5 keys to unlock the value of global supply chains for Aussie manufacturers

TRENT MUNRO| May 18, 2018
5 KEYS TO UNLOCK THE VALUE OF GLOBAL SUPPLY CHAINS FOR AUSSIE MANUFACTURERS
We live in a global marketplace - as the arrival of Amazon has confirmed. And it’s quickly becoming apparent that the Australian market alone is too small for manufacturers to survive against global competitors. But that doesn’t have to mean game over.

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OCM Manufacturing Inc

OCM Manufacturing provides OEMs with global electronics product design, manufacturing & logistics for low- to mid-volume products, as well as turnkey product development for industrial controls. Our full range of electronic contract manufacturing services provides a one-stop resource.

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The Unrelenting Growth of Technology in Manufacturing

Article | May 13, 2021

When the manufacturing industry began to embrace digital technology a decade ago, it adopted a new identity — smart manufacturing or Industry 4.0. Applying cloud, automation, analytics, machine learning and big data to production operations created a connected ecosystem for manufacturing and supply chain management, and became a high-growth market. At the start of 2020, the sector was on track to grow into a market worth more than $300 billion in the coming five years. Then the pandemic hit. By spring, millions of workers had lost their jobs. Some plants closed temporarily or slowed production so workers could spread out to maintain a safe distance from one another. Investment in smart manufacturing fell too, by 16 percent between March and April alone. Some researchers predicted that such a pull-back would dampen investment through 2025. But the conversations we’ve had with C-suite manufacturing executives and service providers suggest investment in smart manufacturing will intensify. By 2025, it could be worth more than $400 billion. It’s no wonder.

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5 Stats to Reshape Manufacturing Customer Experience in 2022

Article | November 20, 2021

The manufacturing business has always prioritized providing the excellent and most user-friendly products worldwide to its target consumer groups. However, digitalization and customer interaction approaches have altered the manufacturing industry's traditional business model. Now, manufacturers must prioritize improving the customer experience for their target consumer group and keeping up with new trends daily to flourish and remain competitive in the upgrading market. Because, in the end, the buyer is the one who drives your business and generates money. Manufacturers are committing significant efforts to improve the customer experience in the following years. To assist manufacturers in their sincere efforts to improve the customer experience in the manufacturing industry, we have compiled some key facts that must be understood and executed by the industry's or business-specific needs. Before going into manufacturing customer experience statistics, it's essential to understand why customer experience is so critical in the manufacturing industry. The Importance of Customer Experience in Manufacturing Customer service and experience are critical components of any business, which is true in the manufacturing sector. Customer experience can be described as any activity taken by a business to positively influence a customer's impression and opinion of the business, its products, or services. “You’ve got to start with the Customer Experience and work back toward the technology, not the other way around” – Steve Jobs. Customer experience benefits your business in a variety of ways, including the following, It increases customer retention It increases the customer lifetime value It creates brand loyalty It influences brand reputability It can deliver businesses with a competitive edge. Manufacturing Customer Experience Statistics Make your manufacturing business more customer-centric and reap the benefits that many customer-centric companies, such as Apple, Nissan, and Chick-fil-A, are experiencing. To better understand what the customer and industry have explored regarding the customer experience in 2022, below are some statistics from well-known businesses. #Stat 1 Businesses that prioritize customer experience see an 80% increase in revenue. (Source: Forbes) A positive customer experience increases customer interest in the product and acts as a form of word-of-mouth marketing. This way, the business benefits from increased sales and organic promotion by genuine consumers, critical for any manufacturing organization. # Stat 2 73% of customers say that customer experience influences their purchasing decision. (Source: PWC) Customers are not solely concerned with the product's quality or pricing. Instead, they are interested in the complete experience they get while purchasing a product. Therefore, if customers have a negative experience during the purchasing trip, it is pretty likely that they will leave the purchase process in the middle and hunt for other viable solutions on the market. Whereas, if the purchasing journey and post-purchase service are satisfactory, they will gladly purchase the goods and suggest new clients to your business. # Stat 3 By 2023, AI and machine learning will manage around 40% of all consumer contacts. (Source: Super Office) Manufacturing production and revenue are increasing as a result of technological advances and applications. However, the customer experience is not far behind in implementing cutting-edge technology like AI, VR, and AR. For instance, chat bots are the best example of how artificial intelligence, natural language processing, and machine learning are being used to increase consumer engagement. Virtual interaction is becoming more prevalent in the manufacturing industry daily, and both manufacturers and customers like this digital interaction. “Our interactions with our customers have become much more virtual, which frankly seems to work well for the customer and us.” -Scott Heide, Chief Executive Officer at Engineering Intent Corporation Technology application in manufacturing will be maximized, and businesses intend to automate the customer experience by 2023. # Stat 4 According to 70% of customers, an ideal customer experience should be quick, convenient, and cooperative, as well as friendly. (Source: Adobe) Customer service is a skill, and it's always a good idea to put yourself in your clients' shoes. According to an Adobe study, 70% of customers want a quick and convenient service that saves them time. In addition, they anticipate full collaboration throughout the purchasing process, including post-purchase servicing. # Stat 5 72% of customers with a good consumer experience will tell six or more people about it. (Source: Nice Reply) In the first statistic, we discussed word-of-mouth marketing. You will always receive referrals for the excellent products or services you provide to your target consumer group. Customers that have a positive experience will always bring you two additional potential customers, and this number will grow exponentially with each pleasant experience delivered by your organization. How did MacDonald's plan to increase revenue simply by improving the customer experience? When McDonald's revenues started to decline, they focused on the customer experience rather than marketing strategies. They began by listening to their clients and giving them a more streamlined experience. Customers told McDonald's to simplify the menu, increase order accuracy, and use higher-quality ingredients. McDonald's also improved store interiors and introduced digital self-order kiosks and table service, reducing customer wait times. BTIG predicted a 4.1% increase in revenues as these modifications were made. As a result, McDonald's may outperform competitors by improving total customer service. Final Words Customer experience is crucial in manufacturing, and manufacturers must leverage digital customer experience trends to improve their reputation. These a fore mentioned customer experience statistics can assist you in shaping a compelling client experience for 2022 and propelling your organization to new heights of success. FAQ Why should a manufacturing company invest in customer experience? Client experience improves customer retention, builds brand reputation, and gives companies a competitive edge. So manufacturers must invest in the consumer experience. What is the difference between customer service and customer experience? Customer service is one aspect of the customer journey, whereas consumer experience is the sum of all customer encounters with the brand. What does a customer experience include? Customer experience is the overall perception of your business or brand. It is the consequence of a customer's engagement with your website, customer service, and the product they purchase. So, it is the aggregate of all elements from browsing to buying to the product experience. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "Why should a manufacturing company invest in customer experience?", "acceptedAnswer": { "@type": "Answer", "text": "Client experience improves customer retention, builds brand reputation, and gives companies a competitive edge. So manufacturers must invest in the consumer experience." } },{ "@type": "Question", "name": "What is the difference between customer service and customer experience?", "acceptedAnswer": { "@type": "Answer", "text": "Customer service is one aspect of the customer journey, whereas consumer experience is the sum of all customer encounters with the brand." } },{ "@type": "Question", "name": "What does a customer experience include?", "acceptedAnswer": { "@type": "Answer", "text": "Customer experience is the overall perception of your business or brand. It is the consequence of a customer's engagement with your website, customer service, and the product they purchase. So, it is the aggregate of all elements from browsing to buying to the product experience." } }] }

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The Future of Additive Manufacturing: Trends and Predictions

Article | January 21, 2022

3D printing technology and its role in future manufacturing are grabbing the interest of industry experts. In terms of elevating future products, future additive manufacturing has a lot to offer the business. Additive manufacturing is developing and stretching its wings on a daily basis, becoming an integral part of every industry, including manufacturing, healthcare, education, and more. In this article, we'll shed some light on the 3D printing future trends, which will assist the business in deepening its impact across industries. Furthermore, we will explore whether the additive manufacturing business is worth investing in as well as who the major players are that have already invested in the future of 3D printing. Future Trends in the Additive Manufacturing Industry Enhanced Machine Connectivity Making AM solutions (including software and hardware) easier to integrate and connect to the factory floor is one of the key AM trends we predict to advance in the coming years. It has been a long time since the AM hardware market has been filled with closed, or proprietary, systems. These systems generally function with materials and software given or approved by the machine OEM and are not easily integrated with third-party alternatives. Closed systems are important for process dependability, but they also restrict collaboration and connectivity. Companies expanding their AM operations will need to connect their machines and software to their production environments. When it comes to additive manufacturing, using siloed solutions is a surefire way to fail. Importantly, we see hardware manufacturers increasingly focusing on solutions that can be integrated with the production floor. For example, a 3D printing market leader like Stratasys is a good illustration of the trend. In December, the business announced an extension of its previously closed machines' connection.Consumers may now integrate and control their additive production using software programs of their choosing, not just Stratasys' systems. For AM facilities, system connectivity is no longer an option. It's exciting to see the AM industry players recognize and solve this requirement. AM and AI Continue to Converge AM growth is incorporating AI and machine learning. AI can help with material development, machine setup, part design, and workflow automation. So, in the future, we anticipate seeing more AI and AM technology integration. Combined with AM systems, AI will improve process control and accuracy. For example, Inkbit is currently working on an AI-powered polymer vision system. This technology can scan 3D printing layers and anticipate material behavior during printing. Generative design, already generally recognized as a key digital advance in AM, may tremendously benefit from AI and machine learning. It has so far been utilized to improve load routes when strength and stiffness are dominant. It can also be utilized to optimize thermal or vibration. AI and machine learning will advance generative design, allowing new concepts to be completely suited to AM.While we may be a few years away from fully developing the capacity to automatically adapt designs to process, we anticipate significant breakthroughs this year that will bring us closer. AM Will Drive Decentralization In order to future-proof their supply chains, many manufacturers are following new supply chain models and technology that allow them to cut prices or switch goods more easily. Increasing flexibility and agility will necessitate distributed, localized production, assisted by additive manufacturing.To reduce the number of steps required to manufacture complex metal or polymer structures, shorten lead times, and enable digital inventory management, digital inventory management can be automated. These advantages make it ideal for the distributed manufacturing model. We believe that in the near future, more businesses will actively explore distributed manufacturing with AM. According to a recent HP survey, 59% of organizations are now considering hybrid models, while 52% are looking into localized digital manufacturing. 3D Printing Future: Major Predictions In Jabil's 2021 3D printing trends survey of over 300 decision-makers, 62% of participants claim their organization is actively using additive manufacturing for production of their product components, up from 27% in 2017. Many such manufacturers are on the lookout for the latest additive manufacturing trends and forecasts. So let's begin. Increasing Flexibility and Customization Customized goods are a popular consumer trend, impacting several sectors. Rather than buying a mass-produced item, customers are increasingly demanding a custom-made item that meets their specific needs. Additive manufacturing's low-volume production capabilities simply enable personalization and customization. 3D printing allows for more responsive design options, particularly for additive manufacturing. Manufacturers can afford to make smaller batches, allowing designers and engineers to alter product ideas and develop them cost-effectively when inspiration strikes, the public mood is understood, or customer feedback drops in. Materials Drive the Future of Digital As the additive manufacturing ecosystem grows, the importance of materials cannot be overstated. Besides high equipment costs, materials and limited additive manufacturing ecosystems have hindered the 3D printing industry's growth. The market is flooded with 3D printing materials, but few are advanced enough to fulfill industry standards.Due to volume constraints in most sectors, suppliers and manufacturers aren't motivated to develop innovative materials for new uses. However, the future of 3D printing is in engineered and application-specific materials. Various sectors have unique difficulties that demand unique solutions. New designed materials will revolutionize new uses, including highly regulated sectors. Industries will reward those who can promptly introduce 3D printing materials adapted to specific industrial and engineering needs. This will allow more 3D printing applications to be supplied and the whole digital manufacturing flywheel to start spinning. 3D Printing and a Sustainable Future Finally, additive manufacturing promotes sustainability and conservation. Besides decreasing trash, 3D printing saves energy. The Metal Powder Industries Federation studied the difference between making truck gear using subtractive manufacturing (17 steps) and additive manufacturing (6 steps). 3D printing uses less than half the energy it takes to produce the same product. 3D printing also reduces the need for moving products and materials, reducing the amount of carbon emitted into the environment. So we can see that digital and additive solutions already contribute to a more sustainable future. Is Investment in the Future of Additive Manufacturing Worth It? In recent years, there has been an explosion of investment in industrial 3D printing. Hundreds of millions of dollars have flowed into the industry in recent years, assisting new businesses. Desktop Metal ($160 million), Markforged ($82 million), and 3D Hubs ($18 million) have all received significant funding in the past. According to a recent report and data analysis, the global additive manufacturing market will hit USD 26.68 billion by 2027. A rising level of government support for additive manufacturing across regions is driving market demand. For example, America Makes, the foremost national initiative in the US since 2012 dedicated to additive manufacturing (3D printing future technology), received USD 90 million in support from the government, commercial, and non-profit sectors. Given the industry's expenditures and the expanding need for 3D printing, investing in the additive manufacturing industry or 3D printing is certainly encouraged. Final Words Additive manufacturing is being used in practically every industry, and companies are researching how technology might be used in their specific fields. The numerous advantages and sustainability that 3D printing provides are the major benefits that manufacturers and other industry professionals notice with 3D printing.Future manufacturing will be significantly more accurate and simple to run thanks to 3D printing technologies. Considering the trends and projections listed above, you may have a better understanding of 3D printing's future and make an informed investment decision. FAQ What is the future of 3D printing? 3D printing, or additive manufacturing, has the potential to empower everything from food to coral reefs. 3D printers may soon be seen in homes, companies, disaster zones, and perhaps even outer space. Why is 3D printing important to society? 3D printing results in waste reduction and so eliminates the need for periodic waste reduction, reuse, and recycling. So it helps society with no carbon footprint. Why is it known as additive manufacturing? The term "additive manufacturing" refers to the fact that the building process adds layers rather than removes raw materials.

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Top Electronics Manufacturing Trends to Watch in 2022

Article | October 13, 2021

The electronics manufacturing business is adopting new technologies to create smart electronics manufacturing products for its consumer base. Next-generation technologies are shaping the future of the manufacturing industry by enabling it to create technologically advanced and user-friendly products. Matt Mong, one of the manufacturing industry's leading professionals, stated in an interview with Media7, “Be Different. Don’t position your product in an existing category. Instead, create your category and make the competition irrelevant and obsolete.” – Matt Mong, VP Market Innovation and Project Business Evangelist at Adeaca. The year 2022 will be a year of advancement and development for the electronics manufacturing industry. So, manufacturers are eager to embrace new technologies and produce more innovative, more user-friendly goods that become part of consumers' daily lives and meet their needs. To make the manufacturing process manageable and deliver advanced products, we will look at the top five trends flourishing in the electronics manufacturing industry. Top Five Electronics Manufacturing Industry Trends Future manufacturing technologies are transforming the electronics manufacturing industry's processes and products. Let's look at the top electronics manufacturing industry trends for 2022, which will propel the sector to new heights of technological advancement. Utilizing the Benefits of the Internet of Things The Internet of Things is being used in both the manufacturing process and the products themselves. It enables electronic manufacturing products and processes to become more intelligent and performance-driven to fulfill business and customer needs. In electronics manufacturing, the Internet of Things (IoT) enables businesses to solve common production challenges such as product quality issues, changing demands, and a complex global supply chain. As a result, it increases productivity and efficiency while reducing human effort. Industrial units may gather and analyze real-time data and processes using IoT-based sensor systems. Additionally, it assists organizations in managing data and transforms traditional manufacturing into an intelligent manufacturing unit. Using an ERP System to Maintain the Company's Competitive Edge ERP (Enterprise Resource Planning) is a centralized management system for all operational and business activities. The software automates all manufacturing processes and enables the electronics manufacturing sector to achieve higher precision throughout the manufacturing process and product delivery. ERP has the potential to boost productivity, improve efficiency, decrease expenses, and increase profitability. ERP enables electronics manufacturers to forecast, plan, modify, and respond to changing market demands. By using an ERP system in your manufacturing unit, you may expand your business and increase revenue. Making Use of Big Data The electronics manufacturing industry benefits from the use of big data to make critical business decisions. It aids in the integration of previously isolated systems to provide a comprehensive view of industrial processes. It also automates data gathering and processing, allowing for more excellent knowledge of each system individually and collectively. Big data also assists manufacturers in discovering new information and identifying trends, allowing them to optimize operations, improve supply chain efficiency, and find variables that impact manufacturing quality, volume, or consistency. In addition, big data assists the electronics manufacturing industry in keeping up with the rapidly changing digital world. Using AR and VR to Create Consumer-friendly Goods AR and VR are future manufacturing technologies that are changing electronics manufacturing products and driving growth. Robotics is a crucial usage of virtual reality in electronics production. Manufacturers may use powerful virtual reality software to design goods. This implementation of virtual reality software reduces production errors and saves time and money. AR in electronics manufacturing allows product developers to generate interactive 3D views of new products before production. AR and VR are part of Industry 4.0, the digital revolution of conventional electronics production units. Adoption of 3D Printing on a Wide Scale One of the essential advantages of today's electronics 3D printing is that companies can quickly prototype PCBs and other electrical devices in-house. In addition, 3D printing has simplified the electronics manufacturing process, and it is currently being utilized to manufacture multilayer printed circuit boards. It uses material jetting technology to spray conductive and insulating inks onto the printing surface. Let's look at an example of an analogy that worked for Jinzhenyuan - The Electronic Technology Co. Ltd., managed by Mr. Huang Runyuan, Jinzhenyuan's General Manager, and based on the concept of Industry 4.0. (Reference: Forbes) Jinzhenyuan - The Electronic Technology Co. Ltd. Takes a Significant Step Forward with Industry 4.0 Jinzhenyuan - The Electronic Technology Co. Ltd., formed in 2012, sells its products globally. In addition, it manufactures cellphones, computers, cars, and a variety of other consumer electronics. Due to changing market needs, the firm planned to upgrade its production facility to industry 4.0 by the end of 2017 to participate in smart manufacturing. The company increased production efficiency, shortened production cycles, and cut costs due to the digital revolution. Today, Jinzhenyuan is regarded as a model of digital transformation in the community in which it works. Let’s observe the statistics for Jinzhenyuan following the deployment of Industry 4.0. 32% improvement in total production efficiency 33% cost reduction 41% decrease in R&D to production cycles 51% reduction in substandard parts rate – from 3,000 to 1,500 per million Final Words The electronics manufacturing sector is on the verge of a digital revolution that will improve the production process efficiency and cost-effectiveness. Many of the world's biggest firms, like Apple, Microsoft, Hitachi, and Saline lectronics, are developing future agile factories to keep up with the world's digital transformation. Future manufacturing technology will help your manufacturing company make the manufacturing process more efficient and boost the business revenue. FAQs What are the future electronics technologies? Smart grid solutions, wearable technology devices, prefabricated goods, the Internet of Things, and robots are some of the future electronics innovations that will propel the business forward. Is the supply chain benefiting from new technology trends? Yes, supply chain management benefits from smart technology as well. Trucks equipped with cutting-edge technologies can get real-time data on the weather and road conditions ahead of time. It contributes to the supply chain process's reduction of possible risks. Which manufacturers are implementing the industry 4.0 concept in their factories? Whirlpool, Siemens, Hirotec, Tesla, Bosch, and Ocado, among others, have turned their traditional factories into digitally smart ones that incorporate all of the cutting-edge technology necessary to improve and optimize the production process. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What are the future electronics technologies?", "acceptedAnswer": { "@type": "Answer", "text": "Smart grid solutions, wearable technology devices, prefabricated goods, the Internet of Things, and robots are some of the future electronics innovations that will propel the business forward." } },{ "@type": "Question", "name": "Is the supply chain benefiting from new technology trends?", "acceptedAnswer": { "@type": "Answer", "text": "Yes, supply chain management benefits from smart technology as well. Trucks equipped with cutting-edge technologies can get real-time data on the weather and road conditions ahead of time. It contributes to the supply chain process's reduction of possible risks." } },{ "@type": "Question", "name": "Which manufacturers are implementing the industry 4.0 concept in their factories?", "acceptedAnswer": { "@type": "Answer", "text": "Whirlpool, Siemens, Hirotec, Tesla, Bosch, and Ocado, among others, have turned their traditional factories into digitally smart ones that incorporate all of the cutting-edge technology necessary to improve and optimize the production process." } }] }

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Spotlight

OCM Manufacturing Inc

OCM Manufacturing provides OEMs with global electronics product design, manufacturing & logistics for low- to mid-volume products, as well as turnkey product development for industrial controls. Our full range of electronic contract manufacturing services provides a one-stop resource.

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