5 Stats to Reshape Manufacturing Customer Experience in 2022

MANUFACTURING-CUSTOMER-EXPERIENCE
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.

Spotlight

Fonon

Fonon designs laser-based material processing technologies for advanced industrial manufacturing and manufactures state-of-the-art equipment utilizing those technologies. The company products empower manufacturers in the areas of application-specific 3D metal printing (additive manufacturing), and 2D and 3D laser cutting, marking and engraving applications (subtractive manufacturing).

OTHER ARTICLES
Manufacturing Technology, Industrial 4.0

Maximizing Operational Productivity with MES in Industry 4.0

Article | June 14, 2024

Enabling production agility, the top players in MES offer multiple benefits to producers and help them earn high ROIs. Read how the best MES in Industry 4.0 helps firms stay ahead of the curve. Contents 1. Manufacturing Execution System: The Excellence Executor 2. MES and Industry 4.0: A Significant Convergence 3. Core Challenges and Solutions in MES Application 4. Top MES Players Boosting Production Excellence in Industry 4.0 4.1 MasterControl 4.2 L2L 4.3 Aegis Software 4.4 Tulip Interfaces 4.5 Fulcrum 4.6 Katana 4.7 iBase-t 4.8 Parsec Automation Corp 4.9 Bright Machines 4.10 Caliber 5. Conclusion 1. Manufacturing Execution System: The Excellence Executor The modern manufacturing world demands the incorporation of innovative systems that can efficiently streamline diverse production tasks through the product lifecycle and augment productivity, effectiveness, and overall performance. Correspondingly, a manufacturing execution system (MES) caters to the demands of the shifting manufacturing sector through impressive analytics, real-time data collection, control functionalities, and complete manufacturing process management, empowering businesses to thrive amid the burgeoning trend of data exchange and automation. Essentially, an MES is an information management system that connects, manages, and oversees varied manufacturing processes. It gives stakeholders crucial insights into factory floor operations and empowers manufacturers to make intelligent decisions to minimize downtime and optimize profits. The MES in Industry 4.0 has indeed emerged as an excellence executor, promising the merits of advanced technology and facilitating the integration of smart manufacturing practices. 2. MES and Industry 4.0: A Significant Convergence An MES acts as a digital support system for manufacturers, bridging the gap between physical manufacturing processes and digital insights. With the forward-looking MES in Industry 4.0, companies can effortlessly gather and analyze data in real time, ensuring judicious resource employment and greater adaptability to industrial changes. The convergence of MES and Industry 4.0 is, therefore, highly monumental, as it empowers manufacturers and drives innovation with smart manufacturing. The system further enables businesses to leverage predictive analytics and real-time data insights, encouraging them to identify improvement zones, take corrective measures, and experiment with advanced technologies. This builds a culture of innovation and ensures a responsive manufacturing domain. Moreover, the top MES tools allow for enhanced customization, productivity, and viability, addressing the diverse needs of varied manufacturing businesses and promoting sustainability through waste minimization and improved resource utilization. 3. Core Challenges and Solutions in MES Application The adoption of MES comes with its own set of hurdles, which manufacturing companies must keep in mind to ensure effective implementation and attain desired production goals. In this regard, the core challenges faced by companies in MES adoption include: Difficulty in Integration with Pre-existing Systems Integrating MES software with existing manufacturing systems, such as SCADA and ERP, is complex and time-intensive. This complexity is further heightened in factories that rely on legacy systems, necessitating meticulous planning and execution. Data Inconsistencies and Inaccuracies Another prominent challenge in the MES integration would be the possibility of data scattering as the software collects data from diverse sources like sensors, machines, etc. A significant threat in this regard would also be the introduction of errors due to manual data entries and inaccurate data analyses because of inconsistencies in data units and formats across varied sources. Complexity Owing to Extensive Customization The unique demands of a manufacturing environment necessitate heavy customization of the MES software, leading to inflated implementation costs and deployment delays. Furthermore, scaling the MES to meet the expansion needs or more significant production volumes can take time and effort. Issues of Ensuring Compliance with Industry Regulations Manufacturing industries work within strict regulatory frameworks and are expected to meet industrial standards and requirements, like ISO standards for quality or general manufacturing. Therefore, the MES software must comply with these regulations. This notably requires thorough documentation and verification, adding to the time and cost of the software implementation. Resistance from Employees A significant challenge in the adoption of MES is opposition from the workforce. Employees familiar with their current workflows may hesitate to adopt new technology, showing apprehensions and active resistance to change and inducing disruptions in factory operations. High Implementation Costs Adopting MES software entails many expenses relating to hardware infrastructure, software licenses, customization, user training, and so on. Furthermore, budgeted costs may be exceeded due to integration difficulties or other unanticipated challenges, leading to delays and overspending. Nonetheless, companies can benefit from MES software and maximize their operational efficiency with thorough planning. Some of the pioneering solutions that manufacturers can adopt to overcome the challenges mentioned above include: Middleware Solutions Ensuring Easy Integration A carefully established strategy can ensure a smooth MES integration. Companies can achieve this goal through practical measures, such as collaborations with renowned MES vendors and IT teams and adopting flexible MES systems and APIs. Maintaining Data Consistency through Effective Governance Establishing robust data administration practices can help manufacturers secure homogeneity in data formats and units across different sources. Moreover, companies can maintain data accuracy and reliability with automated quality checks and necessary training on data entry standards. The Right Balance for Cost-effective Customization To address the challenge of costly customization, manufacturers can further analyze the areas that require customization and those that don’t. Adopting a modular architecture can help incorporate modifications seamlessly without affecting core functionalities. Furthermore, companies can ensure optimized customization through close collaborations with MES vendors and experts. Thorough Compliance with Industry Regulations Companies can collaborate with regulatory experts to establish and design MES systems, including features such as audit trails, electronic signatures, and batch records, to ensure complete adherence to industrial standards and requirements. These features enable manufacturers to ensure transparency, accountability, and undeterred compliance with industry-specific standards. Establishing a Culture of Learning for User Adoption Resistance from employees remains a significant problem when implementing MES software. Companies can effectively meet this challenge by promoting a culture of continuous learning. With carefully structured user forums, guides, and training programs, businesses can instill the necessary skills and confidence in their employees, encouraging them to embrace change and new technologies without inhibitions. Cost-benefit and Budget Evaluation for Favorable ROIs With a thorough cost-benefit analysis, companies can make intelligent decisions regarding MES expenditure and select a system that promises high ROI. Additionally, incorporating an emergency fund for unanticipated expenses into the budget and reviewing the spending plans can help avoid cost overruns. 4. Top MES Players Boosting Production Excellence in Industry-4.0 As augmenters of quality management, the top players in MES help businesses streamline their core production operations and achieve peak financial gains. Here’s a list of the leading MES software providers that render an unparalleled competitive edge to companies: 4.1 MasterControl Meeting the demands of Industry 4.0, MasterControl is a leading cloud-based quality and manufacturing software provider that focuses on curtailing expenditures, augmenting product quality, and streamlining production processes. The company’s striking MES fulfills regulations related to varied industries, especially life sciences. From ensuring paperless operations on the plant floor to limiting deviations and post-production review times, MasterControl renders multiple benefits to manufacturers, driving business success. Importantly, with an impressive array of features like electronic batch and device history records, equipment calibration, and advanced analytics, MasterControl allows unmatched control and visibility into manufacturing processes and ensures regulatory compliance while optimizing production tasks. Moreover, from providing high data accuracy through electronic logbooks to minimizing downtime and facilitating informed decision-making, the company offers a true competitive advantage to businesses, enhancing their efficiency and ROI. 4.2 L2L L2L, or Leading2Lean, provides impressive plant and production management solutions to manufacturers and induces powerful collaborations among workers across various modules, viz. L2L Dispatch, L2L Production, L2L Maintenance, L2L Connect, and L2L Studio. These modules aim to augment businesses' operational productivity. From rendering real-time visibility of floor operations to streamlining machine connectivity for quicker data access, L2L focuses on improving manufacturing tasks and reducing worker obstacles. With more than 225,000 users worldwide, L2L's platform makes production plants more proficient and cost-effective. Furthermore, operating 24/7, L2L remains committed to offering plant managers unmatched insights into floor operations, allowing easy and quick resolution of manufacturing problems. Significantly, the MES provider leverages the L2L Dispatch module for handling disruptions, L2L Production for optimizing manufacturing processes, L2L Maintenance for limiting downtime, L2L Studio for strengthening workers with tailored apps, and L2L Connect for gathering and evaluating machine data, providing comprehensive solutions for continual growth to manufacturing businesses. 4.3 Aegis Software Established in 1997, Aegis Software offers advanced software solutions to manufacturing firms through intelligence, automation, and connectivity. Being at the forefront of Industry 4.0 transformation, the company serves various industries, including automotive, military, medical, aerospace, and electronics. Through its prime offering, FactoryLogix, Aegis Software effectively augments operational speed and productivity, reducing manual data entry and assembly correction time. The company’s adaptable and modular MES, FactoryLogix, is built on an IIoT (Industrial Internet of Things) backbone. It streamlines and accelerates production processes, curtailing costs and conforming to industrial regulations and standards. It further offers real-time operational visibility and empowers businesses to adapt to customer demands promptly. With IIoT connectivity and AR capabilities, FactoryLogix adds context to data, enabling intelligent decision-making and augmenting floor instructions. 4.4 Tulip Interfaces Tulip Interfaces is a prominent software provider leading frontline operations and tackling businesses’ operational challenges associated with productivity augmentation, error-proofing, and real-time data evaluation. The company focuses on empowering workforces worldwide through connected apps, enhancing their efficiency and allowing complete traceability across operations. Significantly, with a striking suite of solutions, Tulip Interfaces ensures error-free task execution through digital guidance and curtails costs through quality control measures. Furthermore, by providing digital records of all manufacturing activities, the software provider makes for regulatory compliance, allowing high traceability and operational efficiency. Also, through notable integration with machine learning, the forward-looking software provider helps operators detect flaws, reducing associated costs and work delays and promising increased revenues. 4.5 Fulcrum Promising a manufacturing SaaS platform to small and mid-sized companies, Fulcrum is an innovative manufacturing software provider that replaces traditional MRP, ERP, and CRM systems. It boasts a completely digital, paper-free workflow and stays committed to enhancing activities of all manufacturing stages, from job quoting to product shipping. It augments throughput and ROI, leveraging predictive analytics, machine learning, and advanced heuristics, and further aims to reduce employees’ operational stress. Fulcrum’s manufacturing software stands out with striking features like limitless user pricing, compliance with ITAR, and readiness for CMMC 2.0. It enables intelligent decision-making through live data connectivity and effortlessly integrates into production processes and adaptive technology, meeting the changing manufacturing needs and exemplifying a revolutionary integrated manufacturing software. 4.6 Katana Katana is a leading cloud-based software provider that aims to help both offline and online manufacturing companies manage their inventory and production processes. With an intelligent auto-booking engine, Katana’s software optimizes workflows and enables manufacturers to meet production deadlines effectively. It further automates routine tasks and renders real-time insights into businesses’ daily operations, ensuring well-informed decisions and enhanced performance. The platform provider offers tools for complete inventory control and traceability, as well as data analysis capabilities for detailed oversight. It also optimizes manufacturing operations based on bills of materials and streamlines sales order handling, supporting multi-currency transactions, omnichannel integration, and partial shipping. Furthermore, it allows for cloud accounting integration and promises warehouse management tools, minimizing errors and augmenting overall productivity. 4.7 iBase-t Founded in 1986, iBase-t is a forward-looking company providing tailored software and consulting solutions to manufacturing firms. The company specifically endeavors to enhance the operational efficiency of diverse industries, such as defense, electronics, medical, aerospace, and shipbuilding, offering solutions like manufacturing execution systems, supplier quality management, enterprise quality management systems, and manufacturing intelligence (MI). Implementing Industry 4.0 strategies, the company affords unmatched precision in manufacturing operations, enabling manufacturers to quickly acclimate to changing industry trends and demands. The company’s Solumina platform correspondingly comes with an impressive suite of solutions. This includes an innovative MES that effortlessly integrates with Industry 4.0 technologies and provides real-time data insights to businesses. Furthermore, add-ons like MI bring advancements and proficiency in manufacturing. 4.8 Parsec Automation Corp From optimizing production processes to enhancing visibility and control, Parsec Automation Corp provides pioneering solutions that improve safety and productivity in manufacturing operations across different sectors, such as packaged goods, automotive, and pharmaceuticals. Through its leading MES platform, TrakSYS, the company equips manufacturers with promising tools and real-time data insights for optimized production and sound decision-making. Prominently, the company’s innovative MES platform allows manufacturers to leverage pre-defined solutions to meet common challenges associated with inventory management, compliance, OEE, and SPC. The platform further integrates with systems like PLC, SCADA, ERP, and IoT and boasts batch management and traceability tools, enabling manufacturing companies to improve product quality, compliance, and operational efficiency. 4.9 Bright Machines Bright Machines is a front-running software and robotics company that provides wide-ranging automation solutions to manufacturing firms. As a dedicated solutions provider, the company focuses on adaptable automated assembly and AI hardware frameworks to increase manufacturing agility. It further refines product design by leveraging machine learning, software applications, and computer vision. From enabling flexible manufacturing of diverse product types on the same line to offering intelligent software-enabled capabilities, Bright Machines allows companies to enhance their operational efficiency. The company further enables prompt flaw monitoring and modifiable data tracking, encouraging businesses to focus on the most crucial data for their operations. The software provider notably delivers intelligent software-enabled functionalities, such as ML-driven visual inspection and 3D navigation, guaranteeing precision and continual monitoring during the assembly process. 4.10 Caliber Centering on quality management solutions, Caliber caters to prominent companies across varied industries, such as pharmaceutical manufacturing, petrochemicals, research and drug development, etc. The company delivers influential solutions to manufacturers through its impressive portfolio, ensuring productivity, compliance, and automation in production processes. Through its striking array of solutions, the company promises augmented quality management processes that guarantee enhanced ROI and customer satisfaction. Furthermore, its CaliberBRM solution mechanizes production records, ensuring paperless operations and compliance with GMP and 21 CFR Part 11. The company also renders real-time data insights through CaliberDashboards for prudent decision-making, streamlining tasks, and achieving excellence. 5. Conclusion Manufacturing execution systems usher in enhanced operational productivity and further ensure regulatory compliance. Yet, businesses must build meticulous plans for MES implementation to successfully overcome the unique challenges of adopting the software, guaranteeing a promising transition to more innovative production practices. Notably, the future trends in MES in Industry 4.0 will see an increase in the incorporation of AI and IoT. Furthermore, an emphasis on blockchain integration and the adoption of handheld AR devices will be placed with a focus on improving transparency, training, and quality control operations. MES platforms will also remain pivotal in ensuring data security and sustainability, promoting companies’ green initiatives. Overall, the future of MES would witness the system’s continual customization to meet the requirements of Industry 4.0, enabling companies to stay ahead in the competitive business world.

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Manufacturing Technology

This Is How You Can Lower Your Manufacturing Overhead

Article | December 21, 2021

When it comes to developing a budget for the following financial year of your manufacturing business, many operations managers start with direct labor and material expenditures. But, what about manufacturing overhead costs? Manufacturing overhead is any expense not directly tied to a factory's production. Therefore, the indirect costs in manufacturing overhead can also be called factory overhead or production overhead. Outsourcing and globalization of manufacturing allows companies to reduce costs, benefits consumers with lower-cost goods and services, and causes economic expansion that reduces unemployment and increases productivity and job creation. – Larry Elder So, this article focuses on some highly effective overhead cost reduction methods that would help you build a healthy budget for the following year. Manufacturing Overhead Costs: What Is Included? Everything or everyone within the factory that isn't actively producing items should be considered overhead. The following are some of the variables that are considered overhead costs: Depreciation of equipment and productionfacilities Taxes, insurance, and utilities Supervisors, maintenance, quality control, and other on-site personnel who aren't producing signs Indirect supply from light bulbs to toilet paper is also included in the overhead cost. Manufacturing Overhead Costs: What Is Excluded? Everything or everyone within or outside the factory that is actively producing items should be excluded from the overhead costs. Factory overhead does not include the following: Product materials Employee costs for those making the goods daily External administrative overhead, such as a satellite office or human resources Costs associated with C-suite employees Expenses associated with sales and marketing - include pay, travel, and advertising How to Calculate Overhead Costs in Manufacturing To know the manufacturing overhead requires calculating the manufacturing overhead rate. The formula to calculate the manufacturing overhead rate i.e. MOR is basic yet vital. To begin, determine your overall manufacturing overhead expenses. Then, add up all the monthly indirect expenditures that keep manufacturing running smoothly. Then you can calculate the Manufacturing Overhead Rate (MOR). This statistic shows you your monthly overhead costs as a percentage. To find this value, divide Total Manufacturing Overhead Cost (TMOC) by Total Monthly Sales (TMS) and multiply it by 100. The final formula will be: Assume your manufacturing overhead expensesare $50,000 and your monthly sales are $300,000. You get.167 when you divide $50,000 by $300,000. Then increase that by 100 to get your monthly overhead rate of 16.7%. This means your monthly overhead expenditures will be 16.7% of your monthly income. Being able to forecast and develop better solutions to decrease production overhead. Five Ways to Reduce Manufacturing Overhead Costs A variety of strategies may be used by manufacturing organizations to reduce their overhead costs. Here is a summary of some of the most important methods for reducing your manufacturing overhead costs. Value Stream Mapping – A Production Plant Process Layout A value stream map depicts the entire manufacturing process of your plant. Everything from raw material purchase through client delivery is detailed here. The value stream map provides you with a complete picture of the profit-making process. This overhead cost-cuttingmethod is listed first for a reason because every effort to reduce manufacturing overhead costsstarts with a value stream map. Lean manufacturingis also one of the techniques of eliminating unnecessary time, staff, and work that is not necessary for profit and has gained undue favor in the manufacturing process. You must first create a value stream map of the whole manufacturing process for this technique to work. Once the lean manufacturing precept is established, the following strategies for decreasingmanufacturing overhead expenses can be examined. Do Not Forget Your Back Office Management Before focusing on factory floor cost reduction techniques, remember that your back offices, where payment processing and customer contacts occur, may also be simplified and increase profitability. Fortunately, automation can achieve this profitability at a cheap cost. Manufacturers increasingly use robotic process automation (RPA) to sell directly to customers rather than rely on complex supply networks. This automation eliminates costly human mistakes in data input and payment processing by automatically filling forms with consumer data. Moreover, the time saved from manual data input (and rectifying inevitable human errors) equates to decreased labor expenses and downtime. Automating Your Manufacturing Plant For a long time, manufacturers saw factory automation as a game-changer. As a result, several plant owners make radical changes in their operations using cutting-edge technologydespite knowing it realistically. Over-investing in technologies unfamiliar to present industrial personnel might be deemed a technology blunder. Investing in new technology that doesn't generate value or is too hard for current staff to use might be a mistake. It's usually best to start small when implementing newtechnology in manufacturing. Using collaborative robots in production is one way to get started with automation. They are inexpensive, need little software and hardware, and may help employees with mundane, repeated chores that gobble up bandwidth. It is a low-cost entry point into automation that saves labor expenses and opens the door for further automation investments when opportunities are available. Reuse Other Factory Equipment and Supplies Check with other factories to see if they have any unused equipment or supplies that may be "redeployed" to your manufacturing plant. Redeployment would save you time and money by eliminating the need to look for and install new equipment while lowering your overhead costs. Outsourcing a fully equipped factory, equipment, or even staff can also assist in lowering overhead costssince you will only pay for what you utilize. As such, it is a viable method to incorporate into your production process. Employ an In-house Maintenance Expert An in-house repair technician can service your equipment for routine inspections, preventive maintenance, and minor repairs. This hiring decision might save money on unforeseen repair expenses or work fees for an outside repair provider. Having someone on-site who can do emergency repairs may save you money if your equipment breaks after business hours. Final Words Manufacturing overhead costis an essential aspect of every manufacturing company's budget to consider. Smart manufacturingis intended to be productive, efficient, and cost-effective while effectively managing production expenditures. Calculating the manufacturing overheadcan provide you with a better understanding of your company's costs and how to minimize them. Depending on the conditions or geographical needs, each manufacturing plant's overhead expensesmay vary. As a result, identify your production overhead costsand concentrate on reducing and improving them. FAQ What are manufacturing overheads? Manufacturing overhead cost is a sum of all indirect expenses incurred during production. Manufacturing overhead expenses usually include depreciation of equipment, employee salaries, and power utilized to run the equipment. What is a decent overhead percentage? When a business is functioning successfully, an overhead ratio of less than 35 % is considered favorable. How can I calculate the cost of manufacturing per unit? The overall manufacturing cost per unit is determined by dividing the total production expenses by the total number of units produced for a particular time.

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Industrial 4.0

How Industry 4.0 Solutions Are Revolutionizing the Shop Floors

Article | March 29, 2022

Smart manufacturing industry 4.0 is based on the concept that machines should be able to communicate and collaborate to produce new products and services. Industry 4.0 solutions, often known as the fourth industrial revolution, are transforming the way we live and work—and significantly impact the global economy. “As companies learn to tap into the potential of the vast amounts of data emerging across all areas of operations, decision-making and action-taking are taken to a new level.” - Thomas Erwin Global Head of KPMG Lighthouse, CoE for data-driven technologies Industry 4.0 solutions or technologies are used to alter the way industrial companies function. Industrial IoT, automation and robots, predictive maintenance, simulation, additive manufacturing, and IoT analytics are a few of these technologies. In this article, we will take a look at how these industry 4.0 technologies are accelerating the shop floor activities to optimize the overall manufacturing operations. Industry 4.0 Technologies and How They Can Help Robotics: The application of computer-controlled robots to manual tasks, such as assembling. 3D Printing: Manufacturing a three-dimensional item by layering material under computer control. Sensor Technology: A sensor capable of detecting and responding to environmental circumstances. AI and Machine Learning: Enables the extraction of fresh insights and decision-making capabilities from massive amounts of information. Digital Twin: Creates digital replicas of operations to diagnose problems and test operational adjustments. Augmented Reality: This allows for new data visualizations to increase worker productivity. Communications Network Infrastructure: Enables data transit between machines and humans and comprehensive system integration. Big Data Platforms: Stores, manipulates, and shows data while also providing new degrees of operational management. Digital Supply Chain: Provides real-time visibility into supply and demand to eliminate network delay. IoT Enabled Cybersecurity: New cyber security techniques are required due to newly digitized and automated activities. Improve Shop Floor Operations with Industry 4.0 In Manufacturing Digitize Each Process Recognizing machine availability, idle state, running status, efficiency, and product quality data in real-time is crucial for any shop floor supervisor or manager to meet the actual vs. target production for that day. Digitizing the manufacturing operations enables everyone on the shop floor to precisely comprehend machine parameters and meet day-to-day production targets. With real-time data collection, supervisors, operators, and plant managers can easily track the overall effectiveness of their equipment. Track OEE Using IoT and Mobile App Capture and monitor the accuracy of sensitive data in real-time using IoT devices to record and deliver threshold alerts to supervisors’ and plant managers. This can be done using the mobile app to examine each machine's performance and efficiency. The data acquired by the OEE monitoring software will aid the organization in increasing its overall productivity rate. Keep Track of Product Counts Monitoring production in real-time is difficult for most operators, but digitizing the process with a TV dashboard enables operators to keep track of the number of goods produced on the machine. A production monitoring system allows operators to keep track of the number of products manufactured each day compared to the expected number. Assign Tasks Dynamically Supervisors spend considerable time allocating jobs to operators and tracking their efficiency. Digitizing job card processes makes it easy for supervisors to assign tasks seamlessly to operators on a shift or transfer tasks to others in the absence of an operator via automation. It also efficiently tracks each operator's performance across multiple changes. Keep Track of Machine Failures Maintaining accurate machine uptime and downtime records is a constant challenge for operators. With the arrival of industry 4.0 technologies such as industrial IoT solutions in the market, operators now have real-time data on machine uptime and downtime, allowing for smooth analysis of machine performance. In addition, preventive maintenance software helps operators and managers monitor equipment data while on the go. Unplanned downtime and frequent repairs are incredibly costly, and prevention is critical to achieving a higher return on investment. Utilize Data with a Predictive Maintenance System Tracking machine data and identifying machine downtime in real-time can significantly lower the TCO (Total Cost of Ownership). Collecting machine data for at least five years and evaluating it using a predictive maintenance system powered by AI and machine learning will help your organization reduce unplanned downtime or unexpected machine failures and increase production. In the future, with predictive maintenance software, industrial businesses can figure out what will happen to their machinery and how to avoid it. Many manufacturing organizations have already begun to utilize the potential of industry 4.0 solutions to improve their day-to-day operations and efficiency to satisfy the ever-changing and expanding needs of their customers, resulting in an increased return on investment. Final Word Industry 4.0 technologies enable firms to optimize their daily manufacturing operations and business processes in various ways. As a result, industry 4.0 solutions are generating significant interest in the industry, and several businesses are implementing them on their shop floors. Apple, Amazon, General Electrics, Siemens, Ford, and Bosch are some of the industry's biggest employers of industry 4.0 solutions. However, manufacturers must implement these industry 4.0 technologies correctly. Instead of going with the flow, examine your business requirements and choose the appropriate technological implementation. FAQ Why is Industry 4.0 so critical? Industry 4.0 technology helps you control and optimize your manufacturing and supply chain processes. It provides real-time data and insights to help you make better business decisions, increasing your company's productivity and profitability. What is Industry 4.0's key objective? Industry 4.0's primary purpose is to propel manufacturing forward: make it faster, more efficient, and customer-centric. Also, push beyond automation and optimization in search of new business prospects and models. What are the benefits of smart manufacturing? Improved efficiency, leaner processes, maximum flexibility, enhanced agility, innovation, and higher-quality products are some of the significant benefits of smart manufacturing.

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GLOBAL MANUFACTURING ACTIVITY INCREASES FOR FOURTH CONSECUTIVE WEEK

Article | August 20, 2020

Global manufacturing production is now at 95% of pre-pandemic levels of activity after demonstrating growth for the fourth consecutive week. While the overall increase is slower compared to last week, China and Mexico are continuing to see relatively higher rates of growth, with Mexico becoming the first country to exceed pre-pandemic rates of activity. We are also seeing evidence that European manufacturers are beginning to come back online, indicating the traditional holiday season is coming to a close.

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Spotlight

Fonon

Fonon designs laser-based material processing technologies for advanced industrial manufacturing and manufactures state-of-the-art equipment utilizing those technologies. The company products empower manufacturers in the areas of application-specific 3D metal printing (additive manufacturing), and 2D and 3D laser cutting, marking and engraving applications (subtractive manufacturing).

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MaxLinear Launches Product Design Kit for Active Electrical Cables Using Keystone PAM4 DSP

MaxLinear | February 02, 2024

MaxLinear, Inc. a leading provider of high-speed interconnect ICs enabling data center, metro, and wireless transport networks, announced the availability of a comprehensive product design kit (PDK) to optimize performance and accelerate the time to market for high-speed Active Electrical Cables (AEC) using MaxLinear’s 5nm PAM4 DSP, Keystone. The PDK is a cost-cutting and time-saving tool for cable manufacturers who want to quickly integrate Keystone into their active electrical cables. MaxLinear’s Keystone PAM4 DSP offers a significant power advantage in AEC applications, which is increasingly becoming a critical factor for hyperscale data centers. The use of 5nm CMOS technology enables designers and manufacturers to build high-speed cables that meet the need for low power, highly integrated, high performance interconnect solutions that will drive the next generation of hyperscale cloud networks. Manufacturers taking advantage of MaxLinear’s PDK to optimize cable designs using Keystone PAM4 DSP will gain a distinct advantage over competitor solutions when trying to maximize reach and minimize power consumption. The PDK makes Keystone easy to integrate with strong applications support, multiple tools to optimize and monitor performance, and reference designs (SW and HW) to accelerate integration. Sophisticated software allows for quick design optimization for the lowest possible power consumption and maximizing cable reach. Cable designers can constantly monitor performance, route signals from any port to any port, and take advantage of hitless firmware upgrades. “MaxLinear is focused on providing not only industry-leading interconnect technologies but also a comprehensive suite of tools to support our manufacturing and design partners,” said Drew Guckenberger, Vice President of High Speed Interconnect at MaxLinear. “Our development kit for our Keystone products provides them with a path to take products to market more quickly and more cost-effectively.” Active electrical cables (AECs) are revolutionizing data center connections. Unlike passive cables, they actively boost signals, allowing for longer distances (up to 7 meters for 400G), higher bandwidth, and thinner, lighter cables. This makes them ideal for high-speed applications like top-of-rack connections (connecting switches to servers within the same rack); direct digital control (enabling flexible interconnectivity within racks and across rows); and breakout solutions (splitting high-speed connections into multiple lower-speed channels). The high-speed interconnect market – which includes active optical cables, active electrical cables, direct attach copper cables, and others – is expected to grow to $17.1B by 2028, up from $10.7B in 2021 according to a market forecast report from The Insight Partners. The Keystone Family The Keystone 5nm DSP family caters to 400G and 800G applications, featuring a groundbreaking 106.25Gbps host side electrical I/O, aligning with the line side interface rate. Available variants support single-mode optics (EML and SiPh), multimode optics and Active Electrical Cables (AECs), offering comprehensive solutions with companion TIAs. Host side interfaces cover ethernet rates of 25G, 50G, and 100G per lane over C2M, MR, and LR host channels. The line side interfaces, tailored for 100G/λ DR, FR, and LR applications, also support these rates. These devices boast extensive DSP functionality, encompassing line-side transmitter DPD, TX FIR, receiver FFE, and DFE. With exceptional performance and signal integrity, these DSPs occupy a compact footprint (12mm x 13mm), ideal for next-gen module form-factors like QSFP-DD800 and OSFP800. Additionally, they are available as Known Good Die (KGD) for denser applications, such as OSFP-XD. About MaxLinear, Inc. MaxLinear, Inc. is a leading provider of radio frequency (RF), analog, digital, and mixed-signal integrated circuits for access and connectivity, wired and wireless infrastructure, and industrial and multimarket applications. MaxLinear is headquartered in Carlsbad, California. MaxLinear, the MaxLinear logo, any other MaxLinear trademarks are all property of MaxLinear, Inc. or one of MaxLinear's subsidiaries in the U.S.A. and other countries. All rights reserved.

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Smart Factory

PsiQuantum, Mitsubishi UFJ Financial Group and Mitsubishi Chemical Announce Partnership to Design Energy-Efficient Materials on PsiQuantum’s

PsiQuantum | January 30, 2024

PsiQuantum and Mitsubishi UFJ Financial Group announced that they are beginning work with Mitsubishi Chemical Group on a joint project to simulate excited states of photochromic molecules which have widespread industrial and residential potential applications such as the development of smart windows, energy-efficient data storage, solar energy storage and solar cells, and other photoswitching use cases. Qlimate, a PsiQuantum-led initiative that includes MUFG as a partner, focuses on using fault-tolerant quantum computing to crack the most challenging computational problems and accelerate the development of scalable breakthroughs across climate technologies, including more energy-efficient materials. Mitsubishi UFJ Financial Group (MUFG) is committed to supporting the world’s transition to a sustainable future, and to encourage industry access to the most promising breakthrough technologies. By pioneering PsiQuantum’s Qlimate solutions with industry leader Mitsubishi Chemical, MUFG is at the forefront of quantum computing for sustainability. This joint project will determine whether high-accuracy estimates of excited state properties are feasible on early-generation fault-tolerant quantum computers, specifically focusing on diarylethenes used for energy-efficient photoswitching applications. The project will allow Mitsubishi Chemical to gain early insights into how and when fault-tolerant quantum computing can be deployed in support of critical, scalable, sustainable materials. Because predicting the optical properties of materials requires complex analysis of excited states, standard algorithmic techniques for simulating these molecules (such as the Density Functional Theory, or DFT) often produce qualitatively incorrect results. The project will bring together Mitsubishi Chemical’s deep experience of computational chemistry and PsiQuantum’s leading expertise in fault-tolerant quantum computing to push the boundaries of approaching the complex physics in these systems and pave the way to developing new, more powerful energy-efficient photonic materials. Philipp Ernst, Head of Solutions at PsiQuantum, said: “PsiQuantum has dedicated teams who identify, describe and solve complex problem sets with best-in-class quantum algorithms. These are designed specifically to run on fault-tolerant quantum computers and will tackle previously-impossible computational challenges. This partnership will leverage our team’s unique know-how and Mitsubishi Chemical’s expertise in photochromic materials. We are grateful for MUFG’s visionary support in our mission to deploy high-impact quantum computing solutions to fight climate change.” Suguru Azegami, Managing Director, Sustainable Business Division, MUFG said: “We are excited to partner with PsiQuantum and Mitsubishi Chemical on our journey to explore possibilities of quantum computing technologies to solve the imminent global challenge. PsiQuantum’s vision to develop the first utility scale quantum computer before the end of the decade has inspired us, which led our initiative to participate in the Qlimate partnership as the first and sole member from Japan. Mitsubishi Chemical is leading efforts to use the cutting-edge technology to develop next generation materials and we are honored to support the company as its long term financial partner.” Qi Gao, Senior Chief Scientist, Mitsubishi Chemical said: “We are pleased to be part of the partnership and are grateful for MUFG’s support. Mitsubishi Chemical’s over 40 years background in computational chemistry and PsiQuantum’s domain specific knowledge for quantum control is a great fit with the collaboration effort of improving calculation accuracy on quantum device. We hope the partnership will accelerate the innovation of revolutionizing computational studies in chemistry and materials science.” About PsiQuantum PsiQuantum is a private company, founded in 2015 and headquartered in Palo Alto, California. The company’s only mission is to build and deploy the world’s first useful, large-scale quantum computer. Many teams around the world today have demonstrated prototype quantum computing systems, but it is widely accepted that much larger systems are necessary in order to unlock transformational applications across drug discovery, climate technologies, finance, transportation, security & defense and beyond. PsiQuantum’s photonic approach enables rapid scaling via direct leverage of high-volume semiconductor manufacturing and cryogenic infrastructure. The company is partnered with the SLAC National Accelerator Laboratory at Stanford University and Sci-Tech Daresbury in the United Kingdom. About Mitsubishi UFJ Financial Group, Inc. (MUFG) Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 50 countries. The Group has about 160,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. About the Mitsubishi Chemical Group Corporation Mitsubishi Chemical Group Corporation (TSE: 4188) is a specialty materials group with an unwavering commitment to lead with innovative solutions to achieve KAITEKI, the well-being of people and the planet. We bring deep expertise and material science leadership in core market segments such as mobility, digital, medical and food. In this way, we enable industry transformation, technology breakthroughs, and longer, more fruitful lives for us all. Together, around 70,000 employees worldwide provide advanced chemistry-based solutions to deliver the core elements of our slogan — “Science. Value. Life.”

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Additive Manufacturing

Teledyne Relays Unveils Innovative Multi-Function Timer Series

Teledyne Relays, Inc. | January 29, 2024

Teledyne Relays, a leading provider of cutting-edge relay solutions, introduces its new Multi-Function Timer product series, showcasing the company's commitment to delivering advanced, reliable, and versatile solutions for the industrial automation sector. Teledyne Relays Multi-Function Timer MFT series is a state-of-the-art solution designed for a wide variety of applications that demand precise timing control. The user-friendly design features three potentiometers for easy selection of timing functions and ranges, while the LEDs provide at-a-glance feedback of timing and relay status. The MFT series also features 7 selectable timing functions for a wide variety of applications Timing ranges from 0.1 seconds up to 100 hours Compact 17.5mm housing preserves valuable panel space Supply Voltages: 24VDC & 24-240VAC OR 12-240VAC/DC 5A SPDT output relay Engineered with the needs of electrical engineers, panel builders, and automation engineers in mind, these timers find application in various industries, including but not limited to Industrial Automation Manufacturing Process Control Systems HVAC and Refrigeration Agriculture and Irrigation Power Distribution “With the new Multi-Function Timer series, Teledyne Relays continues to lead in providing reliable and versatile solutions for industrial automation, ensuring precise timing control,” said Michael Palakian, Vice President of Global Sales and Marketing at Teledyne Relays. The Multi-Function Timer series from Teledyne Relays ensures precise timing control, offering unparalleled reliability across diverse applications and is available for ordering from Teledyne Relays or an authorized distributor. About Teledyne Relays Teledyne Relays is a world leader in high-performance coaxial switches, electromechanical, and solid-state relays, offering a wide range of solutions for various applications in the aerospace and defense, telecommunications, test and measurement, and industrial markets. With over 60 years of experience, Teledyne Relay has established a reputation for quality, reliability, and customer service excellence. About Teledyne Defense Electronics Serving Defense, Space and Commercial sectors worldwide, Teledyne Defense Electronics offers a comprehensive portfolio of highly engineered solutions that meet your most demanding requirements in the harshest environments. Manufacturing both custom and off-the-shelf product offerings, our diverse product lines meet emerging needs for key applications for avionics, energetics, electronic warfare, missiles, radar, satcom, space and test and measurement.

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Manufacturing Technology

MaxLinear Launches Product Design Kit for Active Electrical Cables Using Keystone PAM4 DSP

MaxLinear | February 02, 2024

MaxLinear, Inc. a leading provider of high-speed interconnect ICs enabling data center, metro, and wireless transport networks, announced the availability of a comprehensive product design kit (PDK) to optimize performance and accelerate the time to market for high-speed Active Electrical Cables (AEC) using MaxLinear’s 5nm PAM4 DSP, Keystone. The PDK is a cost-cutting and time-saving tool for cable manufacturers who want to quickly integrate Keystone into their active electrical cables. MaxLinear’s Keystone PAM4 DSP offers a significant power advantage in AEC applications, which is increasingly becoming a critical factor for hyperscale data centers. The use of 5nm CMOS technology enables designers and manufacturers to build high-speed cables that meet the need for low power, highly integrated, high performance interconnect solutions that will drive the next generation of hyperscale cloud networks. Manufacturers taking advantage of MaxLinear’s PDK to optimize cable designs using Keystone PAM4 DSP will gain a distinct advantage over competitor solutions when trying to maximize reach and minimize power consumption. The PDK makes Keystone easy to integrate with strong applications support, multiple tools to optimize and monitor performance, and reference designs (SW and HW) to accelerate integration. Sophisticated software allows for quick design optimization for the lowest possible power consumption and maximizing cable reach. Cable designers can constantly monitor performance, route signals from any port to any port, and take advantage of hitless firmware upgrades. “MaxLinear is focused on providing not only industry-leading interconnect technologies but also a comprehensive suite of tools to support our manufacturing and design partners,” said Drew Guckenberger, Vice President of High Speed Interconnect at MaxLinear. “Our development kit for our Keystone products provides them with a path to take products to market more quickly and more cost-effectively.” Active electrical cables (AECs) are revolutionizing data center connections. Unlike passive cables, they actively boost signals, allowing for longer distances (up to 7 meters for 400G), higher bandwidth, and thinner, lighter cables. This makes them ideal for high-speed applications like top-of-rack connections (connecting switches to servers within the same rack); direct digital control (enabling flexible interconnectivity within racks and across rows); and breakout solutions (splitting high-speed connections into multiple lower-speed channels). The high-speed interconnect market – which includes active optical cables, active electrical cables, direct attach copper cables, and others – is expected to grow to $17.1B by 2028, up from $10.7B in 2021 according to a market forecast report from The Insight Partners. The Keystone Family The Keystone 5nm DSP family caters to 400G and 800G applications, featuring a groundbreaking 106.25Gbps host side electrical I/O, aligning with the line side interface rate. Available variants support single-mode optics (EML and SiPh), multimode optics and Active Electrical Cables (AECs), offering comprehensive solutions with companion TIAs. Host side interfaces cover ethernet rates of 25G, 50G, and 100G per lane over C2M, MR, and LR host channels. The line side interfaces, tailored for 100G/λ DR, FR, and LR applications, also support these rates. These devices boast extensive DSP functionality, encompassing line-side transmitter DPD, TX FIR, receiver FFE, and DFE. With exceptional performance and signal integrity, these DSPs occupy a compact footprint (12mm x 13mm), ideal for next-gen module form-factors like QSFP-DD800 and OSFP800. Additionally, they are available as Known Good Die (KGD) for denser applications, such as OSFP-XD. About MaxLinear, Inc. MaxLinear, Inc. is a leading provider of radio frequency (RF), analog, digital, and mixed-signal integrated circuits for access and connectivity, wired and wireless infrastructure, and industrial and multimarket applications. MaxLinear is headquartered in Carlsbad, California. MaxLinear, the MaxLinear logo, any other MaxLinear trademarks are all property of MaxLinear, Inc. or one of MaxLinear's subsidiaries in the U.S.A. and other countries. All rights reserved.

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Smart Factory

PsiQuantum, Mitsubishi UFJ Financial Group and Mitsubishi Chemical Announce Partnership to Design Energy-Efficient Materials on PsiQuantum’s

PsiQuantum | January 30, 2024

PsiQuantum and Mitsubishi UFJ Financial Group announced that they are beginning work with Mitsubishi Chemical Group on a joint project to simulate excited states of photochromic molecules which have widespread industrial and residential potential applications such as the development of smart windows, energy-efficient data storage, solar energy storage and solar cells, and other photoswitching use cases. Qlimate, a PsiQuantum-led initiative that includes MUFG as a partner, focuses on using fault-tolerant quantum computing to crack the most challenging computational problems and accelerate the development of scalable breakthroughs across climate technologies, including more energy-efficient materials. Mitsubishi UFJ Financial Group (MUFG) is committed to supporting the world’s transition to a sustainable future, and to encourage industry access to the most promising breakthrough technologies. By pioneering PsiQuantum’s Qlimate solutions with industry leader Mitsubishi Chemical, MUFG is at the forefront of quantum computing for sustainability. This joint project will determine whether high-accuracy estimates of excited state properties are feasible on early-generation fault-tolerant quantum computers, specifically focusing on diarylethenes used for energy-efficient photoswitching applications. The project will allow Mitsubishi Chemical to gain early insights into how and when fault-tolerant quantum computing can be deployed in support of critical, scalable, sustainable materials. Because predicting the optical properties of materials requires complex analysis of excited states, standard algorithmic techniques for simulating these molecules (such as the Density Functional Theory, or DFT) often produce qualitatively incorrect results. The project will bring together Mitsubishi Chemical’s deep experience of computational chemistry and PsiQuantum’s leading expertise in fault-tolerant quantum computing to push the boundaries of approaching the complex physics in these systems and pave the way to developing new, more powerful energy-efficient photonic materials. Philipp Ernst, Head of Solutions at PsiQuantum, said: “PsiQuantum has dedicated teams who identify, describe and solve complex problem sets with best-in-class quantum algorithms. These are designed specifically to run on fault-tolerant quantum computers and will tackle previously-impossible computational challenges. This partnership will leverage our team’s unique know-how and Mitsubishi Chemical’s expertise in photochromic materials. We are grateful for MUFG’s visionary support in our mission to deploy high-impact quantum computing solutions to fight climate change.” Suguru Azegami, Managing Director, Sustainable Business Division, MUFG said: “We are excited to partner with PsiQuantum and Mitsubishi Chemical on our journey to explore possibilities of quantum computing technologies to solve the imminent global challenge. PsiQuantum’s vision to develop the first utility scale quantum computer before the end of the decade has inspired us, which led our initiative to participate in the Qlimate partnership as the first and sole member from Japan. Mitsubishi Chemical is leading efforts to use the cutting-edge technology to develop next generation materials and we are honored to support the company as its long term financial partner.” Qi Gao, Senior Chief Scientist, Mitsubishi Chemical said: “We are pleased to be part of the partnership and are grateful for MUFG’s support. Mitsubishi Chemical’s over 40 years background in computational chemistry and PsiQuantum’s domain specific knowledge for quantum control is a great fit with the collaboration effort of improving calculation accuracy on quantum device. We hope the partnership will accelerate the innovation of revolutionizing computational studies in chemistry and materials science.” About PsiQuantum PsiQuantum is a private company, founded in 2015 and headquartered in Palo Alto, California. The company’s only mission is to build and deploy the world’s first useful, large-scale quantum computer. Many teams around the world today have demonstrated prototype quantum computing systems, but it is widely accepted that much larger systems are necessary in order to unlock transformational applications across drug discovery, climate technologies, finance, transportation, security & defense and beyond. PsiQuantum’s photonic approach enables rapid scaling via direct leverage of high-volume semiconductor manufacturing and cryogenic infrastructure. The company is partnered with the SLAC National Accelerator Laboratory at Stanford University and Sci-Tech Daresbury in the United Kingdom. About Mitsubishi UFJ Financial Group, Inc. (MUFG) Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 50 countries. The Group has about 160,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. About the Mitsubishi Chemical Group Corporation Mitsubishi Chemical Group Corporation (TSE: 4188) is a specialty materials group with an unwavering commitment to lead with innovative solutions to achieve KAITEKI, the well-being of people and the planet. We bring deep expertise and material science leadership in core market segments such as mobility, digital, medical and food. In this way, we enable industry transformation, technology breakthroughs, and longer, more fruitful lives for us all. Together, around 70,000 employees worldwide provide advanced chemistry-based solutions to deliver the core elements of our slogan — “Science. Value. Life.”

Read More

Additive Manufacturing

Teledyne Relays Unveils Innovative Multi-Function Timer Series

Teledyne Relays, Inc. | January 29, 2024

Teledyne Relays, a leading provider of cutting-edge relay solutions, introduces its new Multi-Function Timer product series, showcasing the company's commitment to delivering advanced, reliable, and versatile solutions for the industrial automation sector. Teledyne Relays Multi-Function Timer MFT series is a state-of-the-art solution designed for a wide variety of applications that demand precise timing control. The user-friendly design features three potentiometers for easy selection of timing functions and ranges, while the LEDs provide at-a-glance feedback of timing and relay status. The MFT series also features 7 selectable timing functions for a wide variety of applications Timing ranges from 0.1 seconds up to 100 hours Compact 17.5mm housing preserves valuable panel space Supply Voltages: 24VDC & 24-240VAC OR 12-240VAC/DC 5A SPDT output relay Engineered with the needs of electrical engineers, panel builders, and automation engineers in mind, these timers find application in various industries, including but not limited to Industrial Automation Manufacturing Process Control Systems HVAC and Refrigeration Agriculture and Irrigation Power Distribution “With the new Multi-Function Timer series, Teledyne Relays continues to lead in providing reliable and versatile solutions for industrial automation, ensuring precise timing control,” said Michael Palakian, Vice President of Global Sales and Marketing at Teledyne Relays. The Multi-Function Timer series from Teledyne Relays ensures precise timing control, offering unparalleled reliability across diverse applications and is available for ordering from Teledyne Relays or an authorized distributor. About Teledyne Relays Teledyne Relays is a world leader in high-performance coaxial switches, electromechanical, and solid-state relays, offering a wide range of solutions for various applications in the aerospace and defense, telecommunications, test and measurement, and industrial markets. With over 60 years of experience, Teledyne Relay has established a reputation for quality, reliability, and customer service excellence. About Teledyne Defense Electronics Serving Defense, Space and Commercial sectors worldwide, Teledyne Defense Electronics offers a comprehensive portfolio of highly engineered solutions that meet your most demanding requirements in the harshest environments. Manufacturing both custom and off-the-shelf product offerings, our diverse product lines meet emerging needs for key applications for avionics, energetics, electronic warfare, missiles, radar, satcom, space and test and measurement.

Read More

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