There is an overwhelming amount of information, buzzwords, and predictions about how manufacturers need to adopt new technologies or go out of business. There certainly is change in manufacturing and production driven by world competitors all trying to apply a wave of new technologies to become winners in their industries. Technology advances are created by exponential levels of increasing computing power, software advances, artificial intelligence, and communications. New technologies have been adopted in high-volume applications, including smartphones, gaming, virtual reality, online shopping, search engines, speech recognition, and a range of consumer products, driving the cost of the technology down dramatically. At the same time, manufacturing changes are being driven by a number of factors: 1. There is a worldwide recognition that low-labor cost is not a winning strategy. 2. Manufacturing technology is not advancing at the rate of consumer and business systems. 3. Technology advances are creating opportunities for dramatic manufacturing improvements. 4. Real-time synchronization of enterprise and industrial processes is recognized as means to be more competitive. 5. Real-time analytics deliver greater productivity and profits.
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