Keeping manufacturing firms innovative to stay competitive
Comprehensive manufacturing business software can have an immense impact on companies in that industry. Especially as technology continues to evolve, businesses must keep pace in order to meet customer needs and remain competitive.
Adrian Cristobal wrote an opinion piece for the Business Mirror about the future of manufacturing. According to Cristobal, manufacturing is beginning to emerge as a priority sector for many countries, including the United States.
He explained that 70 percent of research and development in the U.S. is from the manufacturing sector. In countries that might not be as economically strong, manufacturing is more vital to creating steady jobs so a stable middle class can be created.
"More important is the critical role manufacturing plays in a country's industrialization because of the wealth, knowledge and skills a society can muster, enabling it to grow industries related to one another," Cristobal wrote. "Thus, growing an automobile industry is not just about building a car, but developing the capacity to develop other industries that need the same engineering and technical skills."
Dominic Barton, the Global Managing Director of McKinsey & Co., explained to the Wall Street Journal that the future of manufacturing relies in part on innovations such as advances in robotics, Big Data, materials and additive manufacturing. Specifically, Barton said that Big Data has the capability to speed up product design by enabling more simulations before a prototype is built.
As companies look to keep pace with Big Data and other new applications, the right business management software can be greatly beneficial. Along with ERP and cloud computing, manufacturing firms can remain ahead of the competition and ensure that they have the necessary tools to remain profitable in a changing industry.