Automation continues to be a very significant factor in the loss of manufacturing jobs but there is still ample opportunity for workers to acclimate and thrive, as long as people are willing and able to change. Otherwise, it is likely that their earning potentials will unfortunately fall down the ravine of the U-shaped labor market.
We are entering the Experience Economy where customers are most interested in building memories, rather than in owning products or receiving a service. Economists and pundits alike are noting this major change in the business world to be as significant as the changes from an agricultural economy to the industrial age and from the industrial age to the service economy, which the developed world has traveled over the last two centuries.
The explosion of IoT growth and IIoT growth is bringing huge numbers of connected devices into the global network of the Internet. Take a look at how the number of ‘smart’ objects, devices and other connected things is growing, with profound expansions into areas that affect supply chain management.
Physical products can’t be produced digitally, but digital resources can and do support manufacturing in a big way. Although manufacturing has made use of computers for decades, ever more powerful systems, sophisticated software, the Internet, and the Industrial Internet of Things (IIoT) have expanded the digital world of manufacturing . . .
December is often a rather strange month in the life of the manufacturing plant. There may be some seasonal demand effects to deal with (lower actual demand and lower production objectives in many cases) and there are often schedule reductions to be accommodated due to holiday shut-downs and the policy in many companies of encouraging employees to use vacation time before the end of the year.