Advanced manufacturing relies on creative technologies and techniques to enhance business competitiveness. However, the pace of change is incredibly fast, plus the scope of potential solutions has never been greater.
Nonetheless, innovation is vital if companies are to remain relevant in this highly-competitive market. However, the industry also faces more obstacles than ever before.
Loss of Brand Loyalty
The pandemic caused a major shift in the marketplace. Loyalty towards brands declined in an industry in which it was already difficult to build and retain a long-standing client base.
As a result, delivering a good customer experience, differentiating oneself from the competition, and providing value has never been more important.
Rising Energy Prices
The manufacturing industry is a major consumer of electricity, natural gas and oil. Regrettably these three products are also experiencing large price hikes. Consequently, the need to use energy wisely is imperative to business success.
Greater Emphasis on Sustainability
The successful creation of sustainable advanced manufacturing requires a rethink of how companies do business. From concept development to product design to manufacturing and product delivery, each component must be optimized.
Business will also need better data analysis, improved quality and cost controls, and carbon neutral factories.
Supply Chain Interruptions
Disruptions initiated by the pandemic continue to shake up supply chains. Suppliers are still struggling to maintain capacity and when it comes time to ship, container shortages, congestions and backlogs, as well as labour shortages are impeding deliveries.
As a result, it is important that all manufacturers move away from a single source. They should also reshore whenever possible. Improving data capture and inventory strategies can also help minimize disruptions.
Tight Labour Market
Humans still help produce most of the world’s goods. However, the pandemic led to a huge loss of workers in the manufacturing industry.
Today, workers are more likely to take positions in other sectors. Consequently, advanced technologies are now essential to automate previously manual tasks. It simply isn’t possible to get the people the industry needs.
According to the National Association of Manufacturers in the US, manufacturing companies of all sizes are at high-risk of cyberattacks. These attacks not only cause financial damage, but downtime and reputational loss.
However, the cybersecurity industry is also short 3.4 million workers. As a result, manufacturers must find new ways to connect with talented cybersecurity specialists.
Solving Advanced Manufacturing Problems
New and emerging technologies are set to reshape manufacturing. Artificial Intelligence, Internet of Things, and production automation tools can increase efficiency, reduce costs, improve quality, and increase supply chain visibility.
Green technologies can also help manufacturers electrify and decarbonize factories and manufacture sustainably. Reshoring and expanding supplier pools can also contribute to supply chain resilience.
However, investments in advanced manufacturing must also include optimizing old business models or creating new ones. This can be achieved through beneficial partnerships that deliver value to all stakeholders.
Partnering for Advanced Manufacturing Success
Considering the many challenges facing advanced manufacturing, business needs a new way to access the expertise they need. EarlyBirds can provide this in several ways.
We offer an expansive marketplace of new and disruptive technologies that can help organisations become self-learning, self-sustaining, and incredibly agile. EarlyBirds also offers Subject Matter Experts, unique programs for ad hoc or supplementary needs, as well as ongoing transformational support.
EarlyBirds Innovation Ecosystem
The EarlyBirds Innovation Ecosystem is a Business-to-Business portal connecting Innovators, Early Adopters, and Subject Matter Experts. Early Adopters are leaders or influencers in an organisation eager to identify new and disruptive technologies. They want to seize opportunities, solve business challenges, or create new products and services.
The Ecosystem has a data pool of over 4 million global innovations that may already address your organization’s challenges. This AI-enabled platform of startups, scaleups, and mature innovators is updated regularly and can be searched and curated using unique tools that meet business and technology needs.
Alternatively, organisations can list their challenges and request solutions from innovators.
EarlyBirds develops dynamic ecosystem maps of industry domains, emerging technologies, and organization’s capabilities. These maps help companies understand strengths, weaknesses, and highlight opportunities for collaboration.
EarlyBirds Explorer Program
The Explorer Program is tailored towards those who need innovation as a service to supplement existing innovation programs, or to conduct innovation projects when required.
EarlyBirds Challenger Program
The Challenger Program focuses on a single organisational or technical challenge. It looks for the most relevant innovators that meet your organisational, technical, and risk requirements.
The program is run by an EarlyBirds Subject Matter Expert who identifies your key issues. The SME then searches the data pool to identify and curate options for further evaluation. The most suitable option is chosen and the SME drafts a roadmap of next steps, POC, trial, or implementation.
EarlyBirds helps advanced manufacturing companies access the innovative solutions and expertise they need.
If you’re interested in partnering for success, please register at https://earlybirds.io/, or contact us to discuss your needs.