With new technology coming out and evolving every year, so too is the manufacturing industry. New concepts like “smart manufacturing” or “modern manufacturing” that use modern technology to make the manufacturing process more efficient are rapidly evolving. The technology that is replacing classic manufacturing methods, and they both signify advancements in production techniques, yet encompass different principles and approaches.
What is Smart, or Modern Manufacturing?
Smart Manufacturing refers to implementing cutting edge technology to improve processes, productivity, flexibility, and overall efficiency in manufacturing.
Smart manufacturing, often referred to as Industry 4.0 or the Industrial Internet of Things (IIoT), represents the integration of new technologies to enhance efficiency, productivity, and flexibility in the manufacturing process. It largely focuses on using data analytics, artificial intelligence (AI), and automation to create a robust process.
You have likely seen videos of robot arms lifting and placing objects in one form or another. Smart manufacturing will employ many forms of artificial intelligence to boost productivity. This can be anything from predictive AI programs that track inventory and predict how much of a product you may need in the future based on past and future trends, or AI that can run manufacturing equipment autonomously.
While smart manufacturing is still in its more nascent phase, it has a promising future to continue to revolutionize manufacturing.
New technologies such as advanced composites, nanotechnology and 3D printing are also a developing part of smart technology. These innovations enable the production of lighter, stronger, and more complex components.
Drawbacks to Smart Manufacturing
The main drawback to smart manufacturing is the cost. These advanced systems and technologies, though in the long run make things cheaper, will often have steep initial costs to set up and implement. There are situations where using more traditional and classic machinery will often help reduce costs for smaller orders, or for products that are simple and don’t require advanced machinery.
As sourcing agents, it is our job to use the proper technologies to maximize cost efficiency. We pride ourselves on taking great care to use the right tool for the job. If you want more information on some of the technologies we have access to, feel free to contact us.