Manufacturers planning for 2020 and beyond

ERIC LUNDIN| January 27, 2020
MANUFACTURERS PLANNING FOR 2020 AND BEYOND
A new year and a new decade have arrived, and of course we’re all wondering what to expect. Making a forecast for a specific industry or an entire economy is always a little dicey, but many of the latest forecasts predict that the U.S. economy will continue to grow in 2020 and 2021, inflationary pressures will remain subdued, and unemployment will remain low.

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Sentry Equipment

With proven sampling expertise since 1924, Sentry products and services provide business operations the critical insights to optimize process control and product quality. We deliver true representative sampling and analysis techniques to customers around the globe, empowering them to accurately monitor and measure processes for improved production efficiency, output and safety.

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Building a Smart Factory is Possible Using Machine Learning

Article | December 7, 2021

Machine learning in manufacturing is becoming more widespread, with businesses like GE, Siemens, Intel, Bosch, NVIDIA, and Microsoft all investing heavily in machine learning-based ways to enhance manufacturing. Machine learning is predicted to expand from $1 billion in 2016 to USD 9 billion by 2022at a compound annual growth rate (CAGR) of 44% throughout the forecast period, according to Markets & Markets. The technology is being utilized to cut labor costs, achieve better transition times, and increase manufacturing speed. “I advocate business leaders get to know more about what AI can do and then leverage AI in proofs of concept.” – Michael Walton, Director and Industry Executive, Microsoft speaking with Media 7 Machine learning can help enhance manufacturing processes at the industrial level. This can be achieved by assessing current manufacturing models and identifying flaws and pain factors. Businesses can rapidly address any difficulties to keep the manufacturing pipeline running smoothly. Let us explore how machine learning is transforming manufacturing operations. How Machine Learning Is Transforming Manufacturing Operations “The greatest benefit of machine learning may ultimately be not what the machines learn but what we learn by teaching them.” - Pedro Domingos Machine learning in manufacturing is revolutionizing manufacturing operations and making them more advanced and result-oriented, so let's have a look at how this is unfolding. Allows for Predictive Maintenance Machine learning provides predictive maintenance by forecasting equipment breakdowns and eliminating wasteful downtime. Manufacturers spend far too much time correcting problems instead of planning upkeep. In addition to enhancing asset dependability and product quality, machine learning systems can forecast equipment breakdown with 92% accuracy. Machine learning and predictive analytics increased overall equipment efficiency from 65% to 85%. Increases Product Inspection and Quality Control Machine learning is also utilized for product inspection. Automated inspection and supervision using ML-based computer vision algorithms can discriminate between excellent and bad products. These algorithms simply need excellent samples to train; therefore a fault library is not required. However, an algorithm that compares samples to the most common errors can be built. Machine learning reduces visual quality control costs in manufacturing. Forbe's says AI-powered quality testing can boost detection rates by up to 80%. Logistics-related Tasks Are Automated To run a production line, industrial companies need considerable logistics skills. The use of machine learning-based solutions can improve logistics efficiency and save expenses. Manual, time-consuming operations like logistics and production-related documentation cost the average US business $171,340 annually. It saves thousands of manual working hours every year to automate these everyday procedures. Using Deep Mind AI, Google was able to lower its data center cooling bill by 40%. Creates More Business Opportunities Machine learning is frequently used in the production process. Substantial data analysis is required to create new items or improve existing products. Collection and analysis of huge amounts of product data can help find hidden defects and new business opportunities. This can help improve existing product designs and provide new revenue streams for the company. With machine learning, companies can reduce product development risks by making smarter decisions with better insights. Protects Company’s Digital Assets On-premise and cloud-based machine learning systems require networks, data, and technological platforms to function. Machine learning can help secure these systems and data by restricting access to vital digital platforms and information. Humans’ access sensitive data, choose applications, and connect to it using machine learning. This can help secure digital assets by immediately recognizing irregularities and taking appropriate action. Harley Davidson's Sales Climbed by 40% Using Albert – The ML & AI-Powered Robot Today, traditional marketing is harder to break through. It's easy to see why Albert (an AI-powered robot) would be a good fit for Harley Davidson NYC. Thanks to machine learning and artificial intelligence, robots are producing news stories, working in hotels, controlling traffic, and even running McDonald's. Albert works well with social media and email marketing. It analyzed which customers are more likely to convert and modifies the personal creative copies on its own for the next process. Harley-Davidson is the only company to employ Albert in its business. The company evaluated customer data to find prior consumers who made purchases and spent more time browsing the website than normal. Albert used this data to categorize customers and scale up test campaigns. Using Albert, Harley-Davidson's sales climbed by 40% and leads increased 2,930%, with half coming from high-converting ‘lookalikes' detected by AI and machine learning. Final Words The groundbreaking benefits of machine learning are the pillars of machine learning applications in manufacturing. Machine learning in manufacturing helps enhance productivity without compromising quality. According to Forbes, Amazon has automated warehouse logistics picking and packing using a machine learning system. With Kiva's help, Amazon's typical ‘click to ship' time dropped from 60-75 minutes to 15 minutes. So, industry leaders are seeing fantastic outcomes, and machine learning in manufacturing is the future. FAQ How is machine learning used in manufacturing? Machine learning is used in manufacturing to improve product quality and uncover new efficiencies. It unquestionably aids in the identification and removal of bottlenecks in the manufacturing process. Which two forms of machine learning are there? Machine learning is divided into two forms: supervised and unsupervised. In supervised machine learning, a machine learning algorithm is trained using data that has been labeled. Unsupervised ML has the advantage of working with unlabeled data. What is a machine learning model? A machine learning model is a file that can recognize patterns. In order to learn from a set of data, you must first train a model using an algorithm. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "How is machine learning used in manufacturing?", "acceptedAnswer": { "@type": "Answer", "text": "Machine learning is used in manufacturing to improve product quality and uncover new efficiencies. 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Quality Digest Defines Enhanced Webinar Events

Article | May 18, 2021

For twenty years as an editorial contributor to Quality Digest magazine, I have had the pleasure of authoring or collaborating more than 80 articles for the publication. During this two-decade tenure, I have worked with Dirk Dusharme (pictured left), Editor in Chief of Quality Digest. Quality Digest’s website receives more than three million page views each year, which provide editorial content, live broadcasts, videos, and on-demand webinars presented by industry experts on international quality standards, leadership, manufacturing, metrology, statistical process control, training, and more. Quality Digest continues its important role as companies navigate a post-COVID reality with a critical role of safety, quality, efficiency, and resiliency. Quality elements are no longer an after-thought. It is essential when examining automation, lean manufacturing, and new paradigms for best practice. During COVID, all of us became more remote savvy and the demand for visionary content and information essential. According to Dusharme, “Since their debut almost a decade ago, Quality Digest's "enhanced" webinar events have raised the bar for the traditional webinar experience. Our audience has come to expect concise, informative, and engaging presentations with subject matter experts who know what they are talking about. Apart from the traditional quality topics, we delve into areas that broaden our audience’s knowledge. These topics range from cybersecurity, to supply chain management, to understanding and dealing with cognitive biases. Our goal is to provide up-to-date, actionable information that our audience can immediately put to use. Live video feeds of the presenters and the products, interactive Q&A sessions, surveys, and valuable downloads all make up our usual webinar experience, followed by next-day access to the on-demand recording and materials.” Enhanced Webinars from Quality Digest feature real-time streaming video of host, subject matter expert, and a case study in action. Users can email questions, chat, or download files in real-time. This modality is ideal for visual case studies/product demos, team or customer training, and new product/new service announcements.

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Reshoring and Technology Platforms Transforming Hiring Practices in the Manufacturing Sector

Article | March 31, 2021

Everyday the supply chain is jeopardized. A freighter stuck in the Suez Canal has severe ripple effects in raw material goods making their way around the world. Trade tariffs and unpredictable consequences from COVID have encouraged many US manufacturers to reshore bringing jobs stateside. This strategy will shift the supply chain challenge to a staffing challenge. As the manufacturing industry is poised for rapid growth over the next 24 months, hiring the best workers once again becomes the top challenge. As the workforce is vaccinated and reshoring the supply chain becomes a clarion call for industry, finding the right people with the right skills forces plant managers, operations managers, and HR managers to find new and innovative recruiting strategies. FactoryFix is an online platform that matches vetted manufacturing workers with companies seeking specific skill sets. This platform sets a new standard in how small to mid-sized manufacturers hire talent across the U.S.

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How Can Manufacturers Redefine Marketing Strategies in the Age of COVID?

Article | April 27, 2021

What do you need to create a killer B2B marketing plan or scale it to support a new marketing business in the age of COVID-19? Many manufacturing companies struggled when the coronavirus started. Some of them paused all marketing activities, waited for the lockdown to end, and then made up for potential losses. Looking at this situation, where does your business stand when it comes to marketing planning in 2021? Simply copying and pasting the old calendar, changing dates and campaign names will be far from being sufficient for the years ahead. Instead, establishing steady and tangible SMART B2B manufacturing marketing goals, which are specific, measurable, relevant, time-bound, and flexible, is crucial for marketers. And such goals should be made every quarter and bucketed under a planned manufacturing marketing strategy. Aren't you sure what to include in your B2B manufacturing marketing plan? Read on the following ideas that will help you do marketing in the age of COVID-19. Redefine your Budget Season As marketers in industrial manufacturing face planning failures such as inevitable spreadsheets, board meetings, sales, and client handling that accompany for an entire year, they're also facing dwindling budgets. So, redefining your manufacturing marketing budget in 2021 will be one of the most important aspects of marketing for manufacturers. Digital Marketing AMA's latest CMO Survey found that manufacturing marketers anticipate an 8.4% rise in digital marketing spending throughout 2021. What is your digital marketing goal in 2021? Generate double-digit leads for products and services? Promote or launch a new product or service? Expanding reach by ranking in Google's first search engine result page (SERP)? Creating a proper digital marketing plan will leverage to know beyond its tip of the ice. The digital platform will keep your marketing activities on track and in one place, and you will see what's working and what doesn't. This way, you can create a solid budget to implement digital marketing in your marketing business. Customer Experience A survey found that customer experience expenditure surged 10% from past years after companies started marketing budgeting. This prominently included A CRM (customer relationship management) platform. So, including a CRM will benefit your business to track and manage contacts present in your marketing pipeline. Social Media Platforms Interestingly, social media expenditure has soared by 74% since February 2021, and the investment by other manufacturers has paid off. Manufacturers report that social media has contributed to the company's performance 24% more after the pandemic. In general, 62% of marketers report that the importance of social media marketing for manufacturing has grown during the pandemic due to its critical role in reaching customers digitally. It's clear that companies that already implemented digital marketing see the value of budgeting for social media, which increased the positive results of marketing. So, when you set up a new budget, include social media to grow your business. 5 Things to Consider while Marketing your Business A Lead Scoring Model One of the most important aspects of marketing in manufacturing is implementing a lead scoring model. Investing in it will allow you to see through the valuable metric of your leads that will make you determine which ones are qualified. Metrics include your ideal customer's demographics such as company size, revenue, industry, and main pain points. Also, these have a number of website visits, specific page views, content downloads, contact forms, emails unlocked, engagement with social posts, and more. Regularly evaluate your lead scoring model and update to ensure your metrics are closely related to your ideal prospect. It would lead both sales and marketing for manufacturers to identify valuable leads in your database easily. Invest in A Video Marketing Strategy Video Marketing is a great deal. As per Cisco's research, by 2021, videos will account for 80% of all internet traffic. In addition, being one of the internet’s traffic sources, it’s practical and reasonable. Video marketing for manufacturers has been profitable by 83%. From creating more leads per year to a rise in sales, 80% say that video marketing has aided their business significantly. If you haven't invested in video marketing yet, or if you've only dipped your toes in the water, 2021 is the year to dive in completely. As per HubSpot's 2020 State of Marketing report, video beats content forms like blogging, email, and infographics. Also, video is the most-used marketing content type for manufacturers. So, there are many tools and resources that make it easy to get started with video marketing. Videos help to sell industrial manufacturing products and create a brand story. So, think about it and include this when budgeting your marketing plan. Move Beyond Basic Marketing Analytics Through digital marketing, manufacturing marketers have been trying to determine the ROI of their efforts. But do you know that most of them have been doing a lousy job? That's because they, and the tools they use, tend to focus on things that don't matter. These include views, clicks, etc. More than 600 manufacturers and industrial companies in the U.S. have learned that their marketing and sales are going wrong. Out of which, 35% of manufacturers are not using an analytics tool like Google Analytics. So, it is advisable to move beyond basic marketing analytics to track how much traffic is coming to your website. The latest tools can identify companies visiting and allow salespeople to engage them in their research phase. It will result in creating and maintaining promising relationships with clients. Content Isn't Optional A rock-hard content marketing plan is the core of your online business's success. Keep in mind; a few blogs are not sufficient to get accurate results! Creating content helps (by answering) your potential buyer's queries in their research process and throughout their buying journey. A survey found an online search or a blog acts as a key source for finding answers to questions. As most sales are happening online now, Hubspot suggests that manufacturing businesses' sales will surge incredibly in 2021. An average B2B manufacturing marketing has involved 68% of stakeholders. Prospects are now making more decisions by reaching out to a company than ever before because they want your website and social channels to educate them completely. If they can't find the information on your owned channels, they might turn to your competitor's website instead. This makes content the most important aspect of marketing. When it comes to steady and consistent lead generation for b2b manufacturers, content is at the front and center of all the B2B manufacturing marketing trends. So, take content seriously instead of keeping it just as an alternative. What's Important for 2021? Plan in quarters Many companies create full-year planning calendars in November and December. The pandemic in 2020 has taught us that to plan too ahead in advance can get your business to flow in the wrong direction. Because who knows whether those plans or events would fall digitally or be back to in-person. Will your target audience be as approachable as to emails and webinars or not? So, plan your marketing things quarterly from annual to ensure your business leads in the right way. Audit Constantly It's not advisable to keep an eye on one particular marketing metric, for example, tracking traffic to your website. Instead, it's the whole picture that matters. 2021 is the year to evaluate every goal, every channel, and every message related to your business. With this, think about creating a big picture as well—company positioning and values, competitive research, and even business goals. Here are some standard audit actions recommended: 1. Conversion rates Visitors converting to leads Leads converting to customers 2. Email engagement Number of sent emails Deliverability metrics Subscriptions/unsubscribing 3. Revenue attribution audits How much revenue can be credited to marketing campaigns? 4. Campaign success How did all of the individual elements of your campaign perform? That includes: The site and landing pages Email marketing Paid ads and PPC Social messages How did the campaign perform against other campaigns? 5. Social media audit Engagement by channel Overall reach and growth 6. Funnel audit How effectively contacts are moving through the funnel In addition, conduct an audit and analysis vertical to ensure all the automation is taking place or running appropriately. Doing it will help your marketing team keep a constant check on all the processes and cater to you with exact marketing activities. Keep this activity active throughout the year. Continue Shifting Budgets—Don't Be Afraid Much of 2020 has been experimental in marketing for manufacturers. Many manufacturing companies moved away from in-person events to a webinar, shifted expensive prospect meetings to internet meetings, trade events to PPC, website, and content creation. In these cases, you might have to shift your budgeting when needed. Consider revising the budget to create advertorials, creative virtual events, and strategic lead generation tools if you plan in quarters. Along with these, 2021 brought a good time to invest even in intent data, ABM, SEO, and other automated technologically advanced digital initiatives. According to a recent study, manufacturing companies are now 21% more likely to invest in automation and technology. As they are now inclined towards the use of webinars & virtual events (20%), search & social media (14%), and website (12%). All of these increased in light of COVID-19. So, start planning for what's sure to have a better year ahead with your marketing strategies. Frequently Asked Questions What is the role of marketing in the manufacturing industry? Marketing plays a pivotal role in the manufacturing industry. Through marketing, customers are well informed about products or services a company offers. Also, marketing helps in building the brand name, awareness, and visibility of a company. How to use social media marketing in manufacturing? Social media marketing in manufacturing can be ideally used in these ways: Choose right platform Share useful content Create advertisements Create creative posts Connect with in-market participants Encourage engagement Create videos and share Address problems and provide solutions through content What are the important aspects of marketing for the manufacturing industry? Being the crucial part of any company in the manufacturing industry, essential aspects of marketing are: Website Brand name Platform Promotion SEO Sales How can Email Marketing help to market in the manufacturing industry? Email marketing in the manufacturing industry can help by creating informational content. Start from offering subscription options to potential customers, clients, and visitors. Send updates, information, an overview of the company's services and products to aware the reader and convert them into loyal customers. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "WHAT IS THE ROLE OF MARKETING IN THE MANUFACTURING INDUSTRY?", "acceptedAnswer": { "@type": "Answer", "text": "Marketing plays a pivotal role in the manufacturing industry. Through marketing, customers are well informed about products or services a company offers. Also, marketing helps in building the brand name, awareness, and visibility of a company." } },{ "@type": "Question", "name": "HOW TO USE SOCIAL MEDIA MARKETING IN MANUFACTURING?", "acceptedAnswer": { "@type": "Answer", "text": "Social media marketing in manufacturing can be ideally used in these ways: Choose right platform Share useful content Create advertisements Create creative posts Connect with in-market participants Encourage engagement Create videos and share Address problems and provide solutions through content" } },{ "@type": "Question", "name": "WHAT ARE THE IMPORTANT ASPECTS OF MARKETING FOR THE MANUFACTURING INDUSTRY?", "acceptedAnswer": { "@type": "Answer", "text": "Being the crucial part of any company in the manufacturing industry, essential aspects of marketing are: Website Brand name Platform Promotion SEO Sales" } },{ "@type": "Question", "name": "HOW CAN EMAIL MARKETING HELP TO MARKET IN THE MANUFACTURING INDUSTRY?", "acceptedAnswer": { "@type": "Answer", "text": "Email marketing in the manufacturing industry can help by creating informational content. Start from offering subscription options to potential customers, clients, and visitors. Send updates, information, an overview of the company's services and products to aware the reader and convert them into loyal customers." } }] }

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Spotlight

Sentry Equipment

With proven sampling expertise since 1924, Sentry products and services provide business operations the critical insights to optimize process control and product quality. We deliver true representative sampling and analysis techniques to customers around the globe, empowering them to accurately monitor and measure processes for improved production efficiency, output and safety.

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