The Top Three Priorities for Manufacturing Companies in 2019

KATIE VAZEOS| January 24, 2019
THE TOP THREE PRIORITIES FOR MANUFACTURING COMPANIES IN 2019
Manufacturing companies are hoping to continue their revenue growth in 2019 by focusing on three key areas. Deloitte has released the results of its annual manufacturing industry outlook report, which finds that the optimism from 2017 and 2018 will continue this year. With promises of tax reform, decreased federal regulations and looser trade agreements, manufacturers have seen gradual revenue growth throughout U.S. markets, with the trend projected to continue into 2019.

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Trends to Boost Your Manufacturing Business in 2022

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. Final Words 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. FAQs 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. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What is the manufacturing industry's future?", "acceptedAnswer": { "@type": "Answer", "text": "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." } },{ "@type": "Question", "name": "What is the industry 4.0 technology in the manufacturing industry?", "acceptedAnswer": { "@type": "Answer", "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." } },{ "@type": "Question", "name": "What are the current technology trends in the manufacturing industry?", "acceptedAnswer": { "@type": "Answer", "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." } }] }

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Five Lean Manufacturing Principles to Empower Your Manufacturing Business

Article | December 16, 2021

Lean manufacturing is an operational approach used to create value. Businesses adopt lean manufacturing to improve productivity, reduce waste, increase customer value, and employee satisfaction. Many businesses are accelerating their adoption of lean principles and practices due to the emergence of the industry 4.0 transformation. As a result, companies such as Caterpillar, Intel, Textron, Parker Hannifin, and John Deere are all reaping the benefits of lean manufacturing. So, where did the idea of "lean manufacturing" first originate? In this article, you'll learn about the origins of lean manufacturing and its key principles. The Origins of Lean Manufacturing The principles of lean manufacturing were developed in Japan in the mid-20th century. Toyota, a famous Japanese automaker, experienced major delivery issues at the time. Its production chains were excessively long; thus it couldn't supply enough products on time. As a result, Toyota needed a new Performance measurement system. The company's managers identified a solution. They created a new project management method called the Toyota production system. Its basic idea was to improve product distribution by reducing waste. It was a good concept. It helped the company shorten manufacturing chains and deliver products faster. Toyota's production method created a simple and effective waste definition. Any step that did not improve the end product's functionality was called a waste. Later, other manufacturing industries adopted the system. It was renamed as lean manufacturing. It's now a global phenomenon and is used by large and small businesses worldwide. When should you implement the Lean Manufacturing Method in your business? Lean is a waste-reduction methodology, approach, and a lifestyle. While it is commonly used in manufacturing, lean techniques are applied to reduce waste while keeping high quality in any business. Waste reduction of 80% plus Reduced production expenses by 50% Decreased inventories by 80-90% Producing quality items is 90% less expensive. Workforce productivity improved by 50% If you want your business to get the above benefits, you need to adopt lean manufacturing principles. Five lean Manufacturing Principles Lean manufacturing benefits businesses in multiple ways, and this lean lifestyle has the potential to empower any organization and increase its market competitiveness. So, let us observe the five fundamental principles of lean manufacturing. Value For the first principle of defining customer value, it is vital to understand what value is. For customers, value comes from what they're willing to pay for. The customer's actual or hidden demands must be discovered. Customers are not aware of what they want or cannot express it. When it comes to new items or technologies, this is a regular occurrence. Assume nothing; ask about the pain points being experienced and then craft a unique value proposition. Never force a solution into a problem that does not exist.” – Thomas R. Cutler, President & CEO at TR Cutler, Inc. For example, you can use various methods to find out what customers value, such as surveys and demographic information. With these qualitative and quantitative methodologies, you may learn more about your clients' needs, their expectations, and their budgets. Value-Stream Identifying and mapping the value stream is the second lean principle. By starting with the consumer’s perceived value, all activities that contribute to that value may be identified. Waste is anything that does not benefit the client in any way. It can be divided into two categories: non-value-added and unnecessary waste. The unnecessary waste should be removed, while the non-value-added should be minimized. You can ensure that clients get exactly what they want while minimizing the cost of creating that product or service by removing unnecessary processes or steps. Flow The next operations must proceed smoothly and without interruption or delays after removing wastes from the value stream. Value-adding activities can be improved by breaking down tasks, reorganizing the manufacturing process, distributing the workload, and educating personnel to be flexible and multi-skilled. Pull The fourth lean principle requires a pull-based manufacturing system. Traditional production systems use a push system, which starts with purchasing supplies and continues manufacturing even when no orders are placed. While push systems are simple to set up, they can result in vast inventories of work-in-progress (WIP). On the other hand, a pull method pulls a customer's order from delivery, causing new items to be made and additional materials to be acquired. Kanban, one of the lean manufacturing tools, can help organizations develop a pull system to control material flow in a production system. An efficient pull system maximizes available space, reduces inventory, eliminates over-and under-production, and eliminates errors caused by too much WIP. Perfection While completing Steps 1-4 is a great start, the fifth and possibly most critical step is incorporating lean thinking and process improvement into your organizational culture. As benefits accumulate, it is vital to remember that lean is not a static system that requires continuous effort and awareness to perfect. Each employee should get included in the lean implementation process. Lean experts sometimes state that a process is not truly lean until it has undergone at least a half-dozen value-stream mapping cycles. How Nike Demonstrated the Benefits of Lean Principles Nike, the world-famous shoe and clothing powerhouse, has embraced lean manufacturing principles and practices. Nike experienced less waste and increased consumer value, as did other businesses. It also shared some unexpected benefits. It is proven that lean manufacturing can minimize terrible labor practices at a company's overseas manufacturing unit by up to 15%. This result was mostly due to implementing the lean manufacturing practice of valuing the workers more than earlier routine labor practices. It provided greater significance to an employee and, as a result, greater significance to the organization as a whole. Final Words Implementing lean manufacturing principles is a good way to run any organization. Businesses that build their operations on the two pillars of lean manufacturing, constant improvement, and personnel respect, are well on their way to becoming a successful and productive organizations in the modern era. To become a lean company, an organization must fully grasp the benefits and added value that it may get by adopting lean manufacturing principles. FAQ What is Five S's of lean manufacturing? The 5S of lean manufacturing are Sort, Set in Order, Shine, Standardize, and Sustain, and they give a framework for organizing, cleaning, developing, and maintaining a productive work environment. What are the two pillars of lean manufacturing? Lean, as modeled on the Toyota Way values, has two pillars, first is ‘Continuous Improvement’ and second is ‘Respect for People’. Why are lean principles beneficial for any business? Lean manufacturing is a business strategy that has proven to be highly successful since it can help you decrease costs, remove waste, enhance production, maintain excellent quality, and thus increase business profit significantly.

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The Top Five Lean Manufacturing Tools for 2022

Article | December 13, 2021

Lean manufacturing is a growing trend that aims to reduce waste while increasing productivity in manufacturing systems. But, unfortunately, waste doesn't add value to the product, and buyers don't want to pay for it. This unusual method pushed Toyota Motor Corporation's industry to become a leading Toyota Production System (TPS). As a result, they are now efficiently producing some of the world's top cars with the least waste and the quickest turnaround. The majority of manufacturers are now using lean management. According to the 2010 Compensation Data Manufacturing report, 69.7% of manufacturing businesses use Lean Manufacturing Practices. Lean tools are the ones that help you in implementing lean practice in your organization. These lean tools assist in managing people and change while solving problems and monitoring performance. Lean Manufacturing technologies are designed to reduce waste, improve flow, improve quality control, and maximize manufacturing resources. What Are the Five Best Lean Manufacturing Tools and How Do They Work? There are roughly 50 Lean Manufacturing tools available in the market. This post will describe 5 of them and their value to your business and its developments. 5S The 5S system promotes efficiency by organizing and cleaning the workplace. To help increase workplace productivity, the system has five basic guidelines (five S's). The five Ss are Sort, Set, Shine, Standardize, and Sustain. 5S improves workplace efficiency and effectiveness by: Sort: Removing unnecessary material from each work area Set: Set the goal of creating efficient work areas for each individual Shine: Maintaining a clean work area after each shift helps identify and resolve minor concerns Standardize: Documenting changes to make other work areas' applications more accessible Sustain: Repeat each stage for continuous improvement 5S is a lean tool used in manufacturing, software, and healthcare. Kaizen and Kanban can be utilized to produce the most efficient workplace possible. Just-In-Time (JIT) manufacturing Just-in-time manufacturing allows manufacturers to produce products only after a customer requests them. This reduces the risk of overstocking or damaging components or products during storage. Consider JIT if your company can operate on-demand and limit the risk of only carrying inventory as needed. JIT can help manage inventory, but it can also hinder meeting customer demand if the supply chain breaks. Kaizen With Kaizen, you may enhance seven separate areas at once: business culture, leadership, procedures, quality, and safety. Kaizen is a Japanese word, means "improvement for the better" or "constant improvement." “Many companies are not willing to change or think they are done once they make a change. But the truth is technology; consumer demands, the way we work, human needs and much more are constantly changing.” – Michael Walton, Director, Industry Executive at Microsoft The idea behind Kaizen is that everyone in the organization can contribute suggestions for process improvement. Accepting everyone's viewpoints may not result in significant organizational changes, but minor improvements here and there will add up over time to substantial reductions in wasted resources. Kanban Kanban is a visual production method that delivers parts to the production line as needed. This lean tool works by ensuring workers get what they need when they need it. Previously, employees used Kanban cards to request new components, and new parts were not provided until the card asked them to. In recent years, sophisticated software has replaced Kanban cards to signal demand electronically. Using scanned barcodes to signify when new components are needed, the system may automatically request new parts. Kanban allows businesses to manage inventory better, decrease unnecessary stock, and focus on the products that must be stored. To reduce waste and improve efficiency, facilities can react to current needs rather than predict the future. Kanban encourages teams and individuals to improve Kanban solutions and overall production processes like Kaizen. Kanban as a lean tool can be used with Kaizen and 5S. PDCA (Plan, Do, Check, Act) Plan-Do-Check-Act (PDCA) is a scientific strategy for managing change. Dr. W. Edwards Deming invented it in the 1950s; hence, it is called the ‘Deming Cycle.’ The PDCA cycle has four steps: Problem or Opportunity: Determine whether a problem or an opportunity exists Do: Make a small test Examine: Look over the test results Act: Take action depending on results How Nestlé Used the Kaizen Lean Manufacturing Tool Nestlé is the largest food corporation in the world, yet it is also a company that practices Lean principles, particularly the Kaizen method. Nestlé Waters used a technique known as value stream mapping, which is frequently associated with Kaizen. They designed a new bottling factory from scratch to guarantee that operations were as efficient as possible. Nestlé has been aiming to make ongoing changes to their processes to reduce waste and the amount of time and materials that can be wasted during their operations. Final Words Lean manufacturing techniques enable many businesses to solve their manufacturing difficulties and become more productive and customer-centric. In addition, useful lean manufacturing tools assist companies in obtaining the anticipated outcomes and arranging their operations in many excellent ways to meet buyer expectations. Hence, gather a list of the top lean manufacturing tools and choose the best fit for your organization to maximize your ROI and address the performance issue that is causing your outcomes to lag. FAQ What are the standard tools in lean manufacturing? Among the more than 50 lean manufacturing tools, Kaizen, 5S, Kanban, Value Stream Mapping, and PDCA are the most commonly used lean manufacturing tools. How to Select the Best Lean Manufacturing Tools for Your Business? Choosing a lean manufacturing tool begins with identifying the issue or lag in your organization that affects overall productivity and work quality. To select the lean device that best meets your company's needs, you must first grasp each one's benefits and implementation techniques. What is included in a Lean 5S toolkit? The lean 5S toolbox contains some essential items for achieving the goal. It comes with a notepad or tablet, a camera, a high-quality flashlight, a tape measure, and a stopwatch. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What are the standard tools in lean manufacturing?", "acceptedAnswer": { "@type": "Answer", "text": "Among the more than 50 lean manufacturing tools, Kaizen, 5S, Kanban, Value Stream Mapping, and PDCA are the most commonly used lean manufacturing tools." } },{ "@type": "Question", "name": "How to Select the Best Lean Manufacturing Tools for Your Business?", "acceptedAnswer": { "@type": "Answer", "text": "Choosing a lean manufacturing tool begins with identifying the issue or lag in your organization that affects overall productivity and work quality. To select the lean device that best meets your company's needs, you must first grasp each one's benefits and implementation techniques." } },{ "@type": "Question", "name": "What is included in a Lean 5S toolkit?", "acceptedAnswer": { "@type": "Answer", "text": "The lean 5S toolbox contains some essential items for achieving the goal. It comes with a notepad or tablet, a camera, a high-quality flashlight, a tape measure, and a stopwatch." } }] }

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Business Models for Sustainable Manufacturing

Article | December 23, 2021

Sustainable business strategiesare bringing significant financial and environmental benefits to manufacturers. Sustainable manufacturingcreates goods while minimizing environmental consequences and preserving energy and natural resources. In addition, sustainable production improves the safety of workers, the community, and the products they produce. Allied Market Research projects that the worldwide renewable energy market will reach $1,977.6 billion by 2030, increasing at an 8.4% CAGR. As a result, we can conclude that many businesses are transitioning from traditional manufacturing to sustainable manufacturing. It’s a good time to be a part of the renewable energy industry. New technologies are coming to market every day, and we work in an industry that is trying to solve an enormous challenge. – Susan Stone, Chief Executive Officer at Ubiquitous Energy, Inc., in conversationwith Media 7 Though many organizations are pioneering the sustainable manufacturing approach, we have selected five of the most well-known companies making serious attempts to be sustainable manufacturing companiesby all means. In addition to the list of sustainable manufacturing businesses, this article will discuss the advantages of sustainabilityand how organizations may become carbon neutral. So let's get started. Top 5 Companies with a Sustainable Business Model The following are five manufacturing businessesthat are investing in sustainable manufacturingmethodsacross their production processes to become more responsive to our mother earth. Philips Electronics The company is reducing its environmental effect by engaging with suppliers, taking climate action, and driving the shift to a circular economy. Climate change is a key concern for Philips. So they are rethinking their business strategies and decoupling economic development from environmental and social impacts. They met their aim of becoming 100% carbon-neutral in their operations and procuring 100% of their power from renewable sources by 2020. They intend to obtain over 75% of their total energy usage from renewable sources by 2025 and to reduce CO2 emissions across their whole value chain to meet the 1.5°C global warming state. Schott Sustainability is profoundly embedded in SCHOTT's DNA. It derives from their distinctive business concept, which dates back to 1896. Their sustainability plan includes responsible governance, workers, society, environment, and climate. “Regarding climate change, it is high time to act. Everyone must take responsibility – politicians, companies and society. We are ready to play our part. We want to become climate neutral by 2030.” - Dr. Jens Schulte, Member of the Board of Management with responsibility for the “Zero Carbon” strategy program Long-term thought and responsible behavior are guiding principles of SCHOTT, which is why they care about the environment and climate. They are entering a new era of sustainable management with their “Zero Carbon” strategic program. Long term, they seek to eliminate fossil fuels as soon as technologyallows it. They are focused on the most energy-intensive stage of glass melting to create new solutions. IKEA IKEA's low-cost furniture utilizes a lot of wood. But because the company employs sustainable forestry practices, your new minimalist nightstand didn't cost the globe a rainforest. The business is also investing heavily in solar and wind energy. This year, the corporation intends to increase its already significant expenditures in renewable energy, to reach 100% clean energy by 2020. It also leads in offering cleaner, greener products. Nike In addition to encouraging people to walk, this footwear manufacturer uses recycled aluminum frames in its headquarters in the Netherlands, and underground energy storage to reduce its carbon footprint. Moreover, it has implemented stringent emission regulations at all of its manufacturingfacilities and has cut its overall carbon footprint by around 80 % since the late 1990s. The company also sells the most environmentally-friendly soccer sneakers on the market. Johnson & Johnson According to the company, Johnson & Johnson has just begun transitioning a significant portion of its energy reliance to solar power in an effort to become the world's most socially responsible organization. Currently, it is the second-largest user of solar energy in the United States, with more than half of its power coming from environmentally friendly sources. Rewards of Adopting Sustainable Manufacturing Practices Many businesses are seeking sustainabilityfor many reasons, including: Reducesoperating expenses and waste Respondsto new consumers and get a competitive edge Buildspublic trust and protect brand and reputation Createslong-term business viability Recognizesand address regulatory constraints What Can We Do to Make Sustainable Manufacturing a Reality? Every business must support green energy projects. Here are some fundamental actions that every business should take to transform itself into a sustainable manufacturing organization. Maximize the Efficacy of Fossil Fuels In today's society, energy conservation is a win-win situation. Approximately half of the world's known oil reserves have been exhausted, which means we are near to the point of diminishing returns in terms of supply. As far as we know, there hasn't been a shortage of supplies. Shutting down unwanted equipment might help you save money immediately. Replace a single-speed motor with a variable speed or servo drive. Use a hydraulic pump with variable speed. Wind, solar, and hydropower can also be used to conserve energy. Reduce or Eliminate Waste Don't overindulge; merely take in what you need to get the task done. At this point, we may all agree that it's easy, but in the past, our primary focus was on reducing productioncosts or time to market. Whether we were wasting resources was unknown or irrelevant to anyone. Metal, paper, and packaging are all examples of industries where this is true. The potential for waste reduction may justify the purchase of highly accurate production equipment. Recycle As a byproduct of manufacturing, metals may be easily recycled and used for new products. In addition, recycling metal saves money and energy since it uses less energy in the manufacturing process, allowing for a 60 % or more reduction in the energy needed to make new products. Final Words Sustainable manufacturing practicesare making manufacturing industries more socially responsible and carbon neutral. This new manufacturing method is necessary for today's period because we must consider future generations while improving today's. Natural resources must be conserved before depleting, and we have nothing left to offer future generations. Responsible organizations have already used this sustainable approachin their manufacturing processes, and we anticipate that every company should consider this method to be more sustainableand environmentally responsible. FAQ What is the difference between green and sustainable manufacturing? The main difference between green and sustainable is that green addresses a single aspect i.e., environmental health, but sustainability addresses the entire system, including economic, social, and environmental aspects. Which business is more environmentally friendly? According to Corporate Knights, Alphabet, Tesla, and AstraZeneca were among the world's most sustainable companies in the Global 100 Index for 2021. What are the four sustainability factors? The word sustainability refers to programs, activities, and actions to preserve a resource. But it relates to four unique key areas. Human, social, economic, and environmental are the four pillars or factors of sustainability.

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Spotlight

PostProcess Technologies

At PostProcess Technologies, we are revolutionizing additive manufacturing by pioneering automated and intelligent solutions to remove the bottleneck in the third step of 3D printing – post-processing. Our proprietary software, patent-pending hardware, and exclusive chemistry technologies combine into a comprehensive solution delivering consistency, scalability and increased productivity for our customers.

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