agreements exacerbate competition between countries, companies and brands. Remaining competitive in such a volatile economic landscape will be challenging for manufacturers. Additionally, with the business model evolving towards one shaped by consumers, being able to keep up with trends will be demanding on manufacturers.
Online shopping has profoundly impacted the traditional business model in the last few years, shaping it to one that is consumer-centric. Consumers these days expect to be heard, and have a say in the look and feel of the product or they may take their business elsewhere. Already, consumer preferences have begun influencing manufacturing decisions, extending beyond consumer-related merchandise to include goods involved in business-to-business (B2B) trading.
The consumerisation of manufacturing will likely give rise to shortening product life cycles to keep up with ever-changing consumer demands and personalisation options. End users such as engineers
Digitalisation provides manufacturers greater visibility and control over operations
can have very detailed specifications for manufacturers where complex products like industrial pumps or generators are concerned. Being able to respond quickly to customer preferences will increasingly determine whether manufacturers can retain their businesses in the long run.
The future of manufacturing As manufacturers face stiffer competition and more challenges along the way, the benefits of digital technologies in being able to optimise factory productivity, efficiency and flexibility will become more apparent. Digital data contains enormous potential for manufacturers who choose to invest in digitalisation to leverage on it. Having greater visibility and control over operations and processes will go a long way in contributing to the overall success of the company. l
Raimund Klein is executive vice president, Digital Factory and Process Industries & Drives, Siemens.
www.siemens.com
www.engineerlive.com 13
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