Technology delivers more than a trio of business-savvy benefits, but the top three benefits include:
- Breakthrough Innovation – By fostering a dynamic environment enriched with cutting-edge tools, technology becomes the catalyst for creativity. It enables manufacturers to conceive intriguing market offerings that push boundaries and captivate the imagination of consumers.
- Cross-Industry Collaboration – Technology facilitates alliances that merge expertise from diverse realms, sparking visionary ideas and products that transcend conventional boundaries. Attending an advanced manufacturing conference and networking with other sectors is an excellent way to embrace collaboration. At these events, professionals can experience emerging technologies in manufacturing and invigorate their business growth with fresh perspectives and potential partnerships.
- Empowered Efficiency – Through smart manufacturing, organizations can look forward to seamless task automation, streamlined operations, and optimized production processes. This technology ignites a newfound level of efficiency, allowing manufacturers to maximize output and minimize resource waste.
Eager to unveil the benefits of technology for your manufacturing business? Then you should come to Rally, the largest global cross-sector innovation conference! Between the inspiring keynotes and the thrilling IN-Prize pitch competition, Rally offers a remarkable space to explore the potential of advanced manufacturing technology.
For now, keep reading to discover more advantages of these technologies, including real-life examples and the best way to harness these benefits for your organization’s growth.
What Are the Advantages of Modern Manufacturing?
Sustainability, agility, customization—there are so many more advantages to modern manufacturing and technology than the three we listed above! Here are a few more you can look forward to:
- Forward-Thinking Sustainability – By incorporating energy-efficient processes, utilizing eco-friendly materials, and adopting responsible waste management, businesses can fulfill their environmental responsibility while showing socially conscious consumers they care. For example, utilizing renewable energy sources can reduce your carbon footprint and minimize resource depletion.
- Agile Adaptation – Modern manufacturing promises agile adaptation through the implementation of flexible production systems and rapid prototyping techniques. To illustrate, a business could adopt modular manufacturing processes and 3D printing technologies to quickly reconfigure production lines, iterate product designs, and respond swiftly to changing market demands. This agility allows manufacturers to reduce time-to-market and gain a competitive edge by efficiently adapting to evolving customer preferences.
- Digital Mastery – Through the utilization of digital manufacturing technology—like machine learning algorithms and real-time data monitoring—businesses can optimize operational efficiency, identify bottlenecks, and make informed decisions for process improvement. For instance, a modern manufacturing facility could equip its machines with smart sensors that collect data on various aspects of production, including machine performance, energy consumption, and quality metrics.
- Customization Delight – Studies indicate that businesses demonstrating proficiency in personalization witness a notable boost in revenue, typically ranging from 10% to 15%. Plus, 80% of consumers exhibit a higher inclination to engage with businesses that provide tailored experiences. Customization opens up opportunities for manufacturers to enter niche markets and cater to specialized industries. By leveraging 3D printing capabilities, for example, manufacturers can produce complex designs, intricate prototypes, and unique components that were previously unfeasible or cost-prohibitive using traditional manufacturing methods.
What Are the 3 Examples of Technology Used in Manufacturing?
If you’d like to see how manufacturing companies are infusing technology into their processes, here are three inspiring examples:
- Robotics and Automation – Robotics and automation have revolutionized advanced manufacturing by introducing precision, speed, and efficiency to production processes. To illustrate, consider Fanuc, a global leader in industrial robotics and automation solutions for manufacturing. Their FANUC M-2000iA/2300 Super Heavy-Duty Robot, for example, has an impressive payload capacity of 2.3 tons (2300 kg) and is designed for handling heavy objects in industries such as automotive, construction, and manufacturing.
- Internet of Things (IoT) – IoT devices and sensors play a crucial role in modern manufacturing. Siemens is a great example of a manufacturing company leveraging IoT technology. Their industrial IoT solutions empower companies to enhance operations, cut IT costs, and launch new business models. Siemens’s MindSphere, for example, serves as an industrial IoT platform that connects and integrates various IoT devices, sensors, machines, and advanced manufacturing systems to harness the power of data for optimization and decision-making.
- Additive Manufacturing – Additive manufacturing, also known as 3D printing, is the process of crafting objects by adding successive layers of material. General Electric (GE) is a prime example of a manufacturing company harnessing the power of additive manufacturing. GE Aviation, in particular, has used this technology to produce intricate components for aircraft engines, such as the GE9X engine used in Boeing’s 777X aircraft. By employing 3D printing, GE was able to manufacture the fuel nozzles for the GE9X engine as a single printed component, eliminating the need for assembly from multiple parts.
Looking For More Examples of Manufacturing Technology?
Then come to Rally, the largest global cross-sector innovation conference held in Indianapolis, IN! Rally brings together companies, entrepreneurs, investors, and universities from around the world, featuring:
- Up to a $5 million investment from the IN-Prize pitch competition
- 1:1 investor meetups
- A live demo arena
- Invigorating keynotes and content sessions
And so much more! Be part of the transformative power of technology at Rally and connect with industry thought leaders, visionaries, and game-changers. Register today and sign up to receive the latest updates from the Rally Loop. Don’t miss out on this incredible opportunity to be at the forefront of progress in the manufacturing industry!