As the first quarter of 2024 has come and gone, we continue to see changes in the manufacturing industry, not only because of innovation but also continued workforce constraints. We often look to technology for solutions, and while it may not be the sole solution it will certainly play a key role in the future of manufacturing. BarTender identified some of the trends that are continuing to shape the industry.

Looking ahead at some of these trends they are:

Labor shortages: The lack of workforce makes business agility and innovation a challenge to overcome. Manufacturing was one of the worst hit industries during 2021 with 58% of workers leaving their jobs. Another factor contributing to the labor shortage is the lack of required technical skills for specific manufacturing roles as technology evolves.

Economic uncertainty: The disruptions in the supply chain and rising prices leave consumers with few choices and less disposable income leading to less demand.

Net Zero emission goals: a term we are hearing frequently, especially in the corporate world. Manufacturing is facing more rigid regulations and is committed to running cleaner.

So how can technology help address these trends/challenges?

Whenever a manufacturer can automate processes, they will gain efficiency and reduce errors. Streamlining information and creating workflows ensures consistency and saves time and money. Many manufacturers are also investing in “Smart Manufacturing” in which they integrate “a range of technologies to build an intelligent, end-to-end self-adjusting manufacturing management system. It encompasses Artificial Intelligence (AI), 5G, the Internet of Things (IoT), data analytics and cloud computing. Smart manufacturing may use networked manufacturing equipment, sensors, and scanners; for example, to capture information from the production line and it might integrate that with information with inventory tracking, and demand forecasts, or combine it all into real-time dashboards and reports for human decision-making, or increasingly, into artificial intelligence (AI) systems for automated action.” Using a combination of these to again, find efficient ways to produce and make decisions that move the needle for their business.

While some of the challenges may seem daunting, how manufacturers can address those challenges can be exciting. Pragmatyxs is ready to assist customers in implementing a solution that will save time and resources while guaranteeing regulatory compliance.