Article | November 20, 2021
Additive manufacturing in America plays a significant part in reviving the manufacturing industry and establishing the country as a leader in applying additive manufacturing technology. The United States was formerly the industrial leader, but it fell out of favor between 2000 and 2010 for many reasons, including recession and structural and financial instability.
In this challenging time, technology interventions such as additive manufacturing in the manufacturing business have allowed the industry to survive. As per the recent report by A.T. Kearney, the USA, the industry leader in manufacturing, has worked hard to reclaim its top position in manufacturing and has also been named the leader in additive manufacturing.
Let's look at which fields of America are utilizing the benefits of additive manufacturing technology to reclaim its position as the industry leader.
Additive Manufacturing in America
The manufacturing industry is gravitating toward additive manufacturing, sometimes known as 3D printing. The numerous advantages of additive manufacturing, such as the reduction of material waste, the reduction of prototyping time, the reduction of prototyping costs, the creation of lightweight objects, and the ease with which it can be implemented and recreated, are making it more popular around the world, including in the United States.
In the United States, the additive manufacturing and material industry is expected to be worth $4.1 billion by 2020. China is the world's second-largest economy and is expected to reach a projected market size of US$14.5 billion by 2027, with a CAGR of 27.2 percent from 2020 to 2027.
How does America Leverage the Additive Manufacturing?
US Airforce has launched research into 3D printing
The US Air Force has begun researching 3D printing replacement parts for old planes utilizing a 3D printing platform.
The project initiative credit goes to 3D Systems, Lockheed Martin, Orbital ATK, and Northrop Grumman. America Makes will observe the project in its third stage and be led by the University of Dayton Research. The Air Force Laboratory financed the Maturation of Advanced Manufacturing for Low-Cost Sustainment (MAMLS) program.
The US Air Force will investigate how the 3D printing technology may reproduce components for outdated aircraft. Using additive manufacturing, the replacement parts may be created faster and in smaller batches, with no minimum order quantity. In addition, applying additive manufacturing will reduce the aircraft ground time and eliminate the need for parts warehousing.
American Manufacturing Companies and Additive Manufacturing
3D Systems, Inc.
3D Systems is an additive manufacturing company. Their work goes beyond prototyping. The company's experts use their deep domain expertise in aerospace and healthcare industries to produce competitive additive manufacturing solutions. This global leader in additive manufacturing helps you define business needs, verify manufacturing flow, and scale manufacturing flow.
GE has seen the benefits of additive manufacturing and its options for product design, such as the potential to build lighter, more vital components and systems. As a result, they created goods that are better performing, more sophisticated in design, and easier to produce.
Ford's advanced manufacturing center in Michigan is all about additive manufacturing. The company employs 3D printing extensively in product development and is looking to integrate it into manufacturing lines. As a result, additive manufacturing is now a critical aspect of the Ford product development cycle, enabling prototype parts and product engineering exercises.
The American manufacturing industry has experienced a renaissance as a result of the advent of additive manufacturing. Additionally, it has built its national accelerator and leading collaborative partner in additive manufacturing, "America Makes," which is the largest manufacturing industryglobally in terms of revenue and operates in a variety of areas. However, it is mainly focused on 3D printing or additive manufacturing, which is undoubtedly reviving the country's manufacturing sector.
What are the significant challenges in additive manufacturing?
Limitations in terms of size, consistency of quality, scalability, a limited variety of materials and high material costs, and limited multi-material capabilities are only a few of the prevalent issues associated with additive manufacturing technology.
Which company is leading in additive manufacturing technology in the USA?
3D Systems Corp. is the leading company in additive manufacturing technology with a revenue of $566.6 million.
"name": "What are the significant challenges in additive manufacturing?",
"text": "Limitations in terms of size, consistency of quality, scalability, a limited variety of materials and high material costs, and limited multi-material capabilities are only a few of the prevalent issues associated with additive manufacturing technology."
"name": "Which company is leading in additive manufacturing technology in the USA?",
"text": "3D Systems Corp. is the leading company in additive manufacturing technology with a revenue of $566.6 million."
Article | July 27, 2021
Filmmaking is manufacturing. To date, no one has made the direct correlation between the two. As many entertainment professionals know, the budget gap between indie productions and big studio blockbusters continues to grow. The day of mid-budget, independent (indie) movies is disappearing as fast as the middle class in the American economy. According to newbiefilmschool, the average budget is barely at $2 million for these pictures and producers have been forced to adapt by discovering creative ways to decrease costs, while maintaining a high production values for a sophisticated audience with high expectations.
Though there are many ways to cut costs, any business professional will agree to go with the options that bring down the budget the most. Just as dog is man’s best friend, here are three reasons why manufacturers have become the same for a filmmaker by saving money and time for every type of production.
Film equipment manufacturers
No long may a film lack quality in picture, sound, and bad acting. Once acceptable, these older movies were produced with the technology and film equipment constraints and from limited funding. Film equipment manufacturers from cameras, sound equipment, and computers cost less to achieve high production values. Film equipment companies face increasing competition, which has driven down the purchase price. Better equipment with significant technology improvements has reframed the indie film industry with high-level sound and image capture quality.
The transition of cameras from film to digital was a notable shift for manufacturers. Many industry-insiders believe that digital is free, and film is expensive, but there is more the manufacturing construct. Digital cameras, when compared to film cameras in the same market price bracket, are much more expensive than analog counterparts. It is true that film costs money and is single-use. Digital memory cards are relatively expensive and can be reused. Film also needs to be developed and there is a cost associated with that production cost. There are other ways in which digital modalities save filmmakers.
Across all industries, efficiency always wins. Innovative manufacturers have developed machines to make numerous jobs easier for everyone. Machines have been assisting filmmakers since the invention of the camera. AI (artificial intelligence) is poised to change film even more and continues to augment human creativity. Storytellers work with computers during every process of creating a motion picture which has sped up the time it takes to complete each-step in film making.
Automating pre-production processes, such as creating a budget and writing a script, is analogous to an ERP (enterprise resource planning) software for a traditional manufacturing operation. The Movie Magic budgeting software by Entertainment Partners has made creating a budget more efficient and accurate. Screenwriter programs vary from the downloadable Final Draft, and the purely cloud based, Celtx, are the reasons automated scriptwriting is the norm. These programs also automatically format writing to industry standards, facilitating the creative process.
Automation in post-production is equally advanced through editing software for video, sound, effects, and colors all the way to distribution and promotional content. Editing footage from digital rather than film saves time and money. Industry favorites include Adobe Premiere Pro and Apple’s exclusive Final Cut Pro and are used on almost all well-known movies and TV shows.
The impacts of COVID-19 on entertainment manufacturers
Without question, the pandemic has affected every industry by creating an unanticipated production standstill. Entertainment manufacturers have sacrificed countless productions, lost billions of dollars, and major talent agencies have furloughed hundreds of employees. This negative impact is not just difficult for indie filmmakers, big studios are suffering just as much with production delays and cancellations still happening as this article goes to press.
Any way back to the set is better than no set at all. A new necessity for productions to safely reopen includes epidemiologists and other public health specialists; they provide detailed strategies dealing with large crews who work in cramped spaces, makeup artists who get face-to-face with actors who kiss, hug, and fight on set. These COVID-19 consultants rely on the manufacturing industry for PPE supplies and carry out regular PCR tests. Face coverings and hand sanitizing stations have also become the norm, just like most other manufacturing operations.
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.
Businesses that prioritize customer experience see an 80% increase in revenue.
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.
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.
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.
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.
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.
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"text": "Client experience improves customer retention, builds brand reputation, and gives companies a competitive edge. So manufacturers must invest in the consumer experience."
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"text": "Customer service is one aspect of the customer journey, whereas consumer experience is the sum of all customer encounters with the brand."
"name": "What does a customer experience include?",
"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."
Article | October 27, 2021
Technologies in the manufacturing industry are upscaling daily. Manufacturers are keen to embrace the latest manufacturing trends to improve their manufacturing process, total production rate, and product quality at their factories. Manufacturing technology advances have also boosted production speed while retaining product quality.
“As technology takes over and enhances many of the processes we used to handle with manual labor, we are freed up to use our minds creatively, which leads to bigger and better leaps in innovation and productivity.” – Matt Mong, VP Market Innovation and Project Business Evangelist at Adeaca.
Apart from manufacturing technology developments, we will look at new manufacturing business trends in this article, which will help you achieve maximum customer engagement and a positive relationship with your target consumer groups.
So, let's see some of the top manufacturing business trends that are assisting the industry in improving its business processes.
Manufacturing Business Trends: 2022
Manufacturers must adopt a business procedure that focuses on the target consumer group. Also, incorporating social responsibility and technology into company procedures would be beneficial.
Here are five ways manufacturing leaders are becoming more communicative and results-oriented in their manufacturing and consumer experience strategies.
Deliver a One-of-a-kind Digital Experience
Every industry's target demographic is now online. Manufacturers must use digitalization to interact with their target consumer group to be noticed and remembered. Maintain an active presence on all popular digital platforms used by your target demographic. Post your new products, business strategy, or get genuine customer feedback on your brand and products. Engage your target audience and keep them informed of your progress in making their lives easier.
“Marketing is VERY important to any company, although I generally see it being justified by the number of web hits or ‘leads’ that come in” – John Hays, Director of Sales at BALYO
Allow your clientele to interact with your products digitally. To be a part of the new digital revolution in any industry, create a new digital business model.
Initiative for Ecosystem Partnership
An ecosystem partnership is a network of enterprises working together to provide a product or service to meet changing market needs. A partner ecosystem can generate customer-ready solutions faster. It also helps firms to co-create value. This value is demonstrated in extraordinary customer and partner experiences. The B2B ecosystem partners work together to bring mutual benefits to their companies.
Revenue Generation via Data Monetization
Data monetization allows industrial CIOs (Chief Information Officers) to monetize their digital products and services. Rapid digitization in manufacturing generates massive data. CIOs may monetize and distribute data across ecosystems. CIOs can leverage information as a resource to generate new services or business models. This ensures revenue even when external reasons like supply chain issues or human resource shortages interrupt the firm.
Using the Equipment as a Service (EaaS) Approach
EaaS, or Pay-Per-Use, is defined as: A business model where equipment is rented rather than sold, with remote diagnostics and predictive maintenance solutions offered by the vendor.
Using Eaas reduces capital expense, improves data reliability, and lowers operating costs. As a result, producers can undertake all production-related tasks with precision.
Bosch RexRoth CytroBox – a Perfect Example of EaaS
The global equipment-as-a-service market is estimated to develop at an 11.5 percent CAGR from 2021-2027. (OpenPR)
The RexRoth Cytrobox from Bosch is an example of EAAS. This hydraulic power unit converts electrical power into hydraulic fluid pressure and flow to move and force a machine. They are widely utilized in presses and tooling equipment.
It can handle up to 33 kW in a small space. Its exceptionally flexible; its unique design allows it to run efficiently and quietly. In addition, modern automation and sensor packages allow easy integration into modern machine designs.
Benefits of Bosch RexRoth CytroBox
It provides data insights during the long lifecycles
Using this hydraulic power unit on a lease can save a lot of money which cost $100.000
It requires heavy maintenance cost as per its type of usage that can be avoided with the EaaS approach
Shifting the Emphasis from B2B to B2C
Many firms are moving their attention from B2B to B2C to understand their target consumer better. This new strategic approach helps producers identify market needs and gain real-time feedback on their products. This method helps producers increase profit margins while also controlling the product's interaction with the intended audience.
The latest manufacturing trends will take you to the cutting edge of manufacturing. The manufacturing developments in 2022 will boost the total manufacturing market in the coming years, allowing manufacturers to generate more business revenue.
What is the manufacturing industry's future?
Industry 4.0 is rapid technological progress in production and is transforming the worldwide manufacturing industry. According to bccresearch's market research, the global manufacturing and process control market is predicted to increase from $86.7 billion in 2020 to $117.7 billion in 2025, a CAGR of 6.3 percent.
What is the industry 4.0 technology in the manufacturing industry?
IoT, industrial internet of things (IIoT), Cyber-physical systems (CPS), cloud computing, artificial intelligence, big data, machine learning, robotics, virtual reality, augmented reality, and additive manufacturing or 3D printing are some technologies that are used in industry 4.0 factories.
What are the current technology trends in the manufacturing industry?
AI, robots, 3D printing, and the like are all the latest manufacturing trends in manufacturing technology. Additionally, enterprise resource planning (ERP), cloud computing, and machine vision all play a significant part in advanced manufacturing.
"name": "What is the manufacturing industry's future?",
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"name": "What is the industry 4.0 technology in the manufacturing industry?",
"text": "IoT, industrial internet of things (IIoT), Cyber-physical systems (CPS), cloud computing, artificial intelligence, big data, machine learning, robotics, virtual reality, augmented reality, and additive manufacturing or 3D printing are some technologies that are used in industry 4.0 factories."
"name": "What are the current technology trends in the manufacturing industry?",
"text": "AI, robots, 3D printing, and the like are all the latest manufacturing trends in manufacturing technology. Additionally, enterprise resource planning (ERP), cloud computing, and machine vision all play a significant part in advanced manufacturing."