The world is changing more rapidly than ever. Technological advancements are constantly raising the status quo for product development. As consumer demand rises, manufacturers must constantly reinvent production strategies to keep up with consumer demand and competition. New manufacturing trends, such as online and on-demand services, partnerships, joint ventures, and 3-D Printing are now emerging.
Emerging Trends
The world has gone digital. Every product and service imaginable is now available online. Manufacturing is no different. Manufacturers are now implementing electronic technologies to streamline production without losing quality. Expectations are that within the next five years, over 85 percent of manufacturers will incorporate new technologies in their production process.
Innovative Collaboration
Successful product development requires collaboration between product engineers and product manufacturers. Electronic manufacturing increases production rates by saving time, energy, and money for engineers and manufacturers. While this concept seems simple, its implementation has been much more complicated.
Product engineers have historically been open-minded to innovative technological advancements. Yet, many manufacturers have been hesitant to adapt to emerging technological trends. Some manufacturers, however, have adopted more quickly and become leaders of the field.
Partnerships
Manufacturing leaders understand the value of developing partnerships with engineers and other companies that can provide additional resources. This leverage allows manufacturers to focus on delivering the high-quality results they’re known for, while simultaneously increasing production capacity.
Forming partnerships, rather than simply acquiring companies, creates increased economic growth. While each company specializes in the one quality that makes them great, the collective network creates a stronger and more productive ecosystem.
Along with effective networking opportunities, a strong electronic manufacturing ecosystem will make on-demand manufacturing even more profitable.
Online, On-Demand
Now that the marketplace has gone digital, consumers are now able to get products and services on demand. Digital media streaming services and business models like drop-shipping are perfect examples. The concept gives consumers the ability to buy products and services as they need them, which gives manufacturers more accurate data to analyze consumer demand.
On-demand manufacturing will greatly benefit engineers because it will allow them to utilize the ecosystem of manufacturers to complete specific tasks as they are needed. This also allows more effective utilization of digital cloud technologies to streamline the production process.
Engineers can now get parts made by uploading computer-assisted designs, abbreviated as CADs, to the cloud. This platform allows engineers to specify every aspect of their project. Once the design is confirmed, qualified manufacturers complete production.
3-D Printing
Another emerging manufacturing trend is the use of 3-D printing. This technology began as a way to create product prototypes. Now, an industry itself, 3-D printing has completely changed the manufacturing industry. Its versatility allows the effective use for both engineers and manufacturers.
As 3-d printing technology has advanced, new materials such as concrete, metal and nano-particle ink have become available options for use. These technological advancements have greatly increased production capabilities and have lead to reduced costs and production times. 3-D printing machinery is now so advanced that engineers are capable of producing full-sized vehicles and buildings.
Advancements in 3-D printing technology, and the machinery itself, are expected to become more widely available within the next six years. Industry experts are expecting the 3-D industry to be valued at more than $50 billion by 2026 as 3-D printing becomes a more preferred production method.
Endless Possibilities
As technological advancements become more integrated into electronic manufacturing, more opportunities for partnerships are constantly being created. Manufacturers are now able to offer completely customized services online, and on-demand. Technology changes almost instantly in today’s world. Manufacturers must consistently reinvent production strategies to adapt to the changes. However, the possibilities are endless.