Development trend of the manufacturing market

Analyzing the trends and challenges that characterize the manufacturing market is of paramount importance. This is because it allows us to investigate the new digital ecosystems that will trace the industrial paths of the coming years.

Digitalization in the manufacturing sector

In recent years, the manufacturing market has undergone a major digital transformation, demanding new processes and quality standards from companies. 

Also complicit in the consequences of the COVID-19 pandemic, companies must face new productive balances.
The signs of recovery are evident and the realignment with the "pre-pandemic" numbers is positive, even if new signs of instability threaten the recent balances.

To navigate this scenario, manufacturers have introduced digital technologies and performance management software.

Artificial Intelligence and Data Driven Approach

Those more oriented towards Industry 4.0 consider the role of artificial intelligence increasingly decisive.

Especially in the management of the supply chain and the strategy of organization of the supplies, artificial intelligence will have a fundamental task.

It will allow, in fact, to increase the forecasts regarding the question and the risks and the criticalities due to the transcontinental supply. 
The strategy of management supplies defined "just-in-time", tied to the optimization of the costs of inventory, leaves the place to that "just-in-case".

The difficulty found in finding the supplies has caused the enterprises to modify their own strategy of acquisition exchanges. 
A faster, agile and data-driven approach was preferred: digital technologies have given businesses more flexibility in planning.

But digital transformation is still tied to specific services and tools, even if we would have to move towards a new process of "strategic review of processes".

New challenges: exploring trends 

Economic uncertainty, shortage of qualified personnel, supply chain difficulties. These are some of the obstacles that slow manufacturing progress.

To contribute to increased production, as well as improving competitiveness, companies should explore some industry trends.
A significant role will be given to technologies related to digital transformation, seen as tools to add value to industrial operations.

But how to address the ongoing challenges and exploit the potential in the industry? 

Next, a brief overview of the scenarios:

• Using digital tools to attract industry talent

There are many incentives and flexibility efforts to include a more "comfortable" type of work. The goal is to offer flexible planning to retain staff, acquire new talent and reduce risk. The use of AI tools is useful to perceive the local labor market and generate an optimized approach for potential qualified employees. In addition, new, efficient and remotely accessible training methods can be offered.

• The intelligent factory and the path to the industrial metaverse

The smart factory includes advanced technologies such as artificial intelligence (AI), 5G, the Internet of Things (iot), data analytics and cloud computing. The critical issues that threaten industries should be a warning to explore new opportunities and benefit from new benefits. It becomes essential to respond promptly to production operations with agility, resilience and efficiency; as well as implement cybersecurity practices.  Increased resource efficiency, labor productivity and product quality, and cost savings are just some of the benefits of transitioning to smart factories.

• Digitalization of the Supply Chain 

Despite a recent stabilization, the lead time of refueling of the production materials continues not to find a valid solution. The persistent shortage of components such as electrical, electronic and semiconductor parts is among the main causes. In recent years, manufacturers have turned to digital supply chain solutions and digital instruments. The drive towards digitalisation is aimed at increasing the transparency of its supply chain.

In recent years, therefore, the digital transformation lever has pushed towards the use of advanced technologies also for after-sales assistance.
The objective is to create a potential element of differentiation, but also new opportunities to generate secondary revenue flows.