technologies-the machine maker
the manufacturing sector is in the midst of a technological revolution. From the cloud to automation to big data, recent advancements in information technology are helping manufacturing companies improve their plant productivity, their customer relations and their bottom line. Yet, technology encompasses a lot of ground. Some up and coming trends have true capacity to change the shop floor. Others are less helpful. That said, over 1/3 of manufacturers anticipate a boost in profits through the improved use of technology over the following year. It is therefore critical for manufacturers to investigate technological advancements with the greatest potential upside, or risk being left behind. Technology is rapidly changing the manufacturing industry in numerous ways. As a result, making strategic IT investments is essential for continued growth. Aggregating different strategies in diverse operations � while difficult � allows for the greatest returns in an increasingly competitive global marketplace. These and many other insights are from a recent research study Deloitte in collaboration with the Council on Competitiveness and Singularity University published this month titled Exponential Technologies in Manufacturing (PDF, 64 pp., no opt-in). The study�s goals include discovering the latest opportunities and barriers manufacturers face in evaluating and adopting technologies, and explores how global manufacturing companies can best capitalize on emerging technologies. The study defines exponential technologies as those that enable change at a rapidly accelerating, nonlinear pace facilitated by substantial progress and cost reduction in the areas of computing power, bandwidth, and data storage.
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