The four characteristics of the manufacturing industry today
Technology
To continue to flourish within these shifts, manufacturers are required to scrutinize every step of their operation. Technology plays a major role in this. Everything is moving so fast today that companies are obliged to be agile, but also to develop the capability to work in a future-proof manner. AI, Internet of Things, blockchain: these are all technologies that have emerged very quickly and are here to stay. Companies have to embed them in their daily work, which requires the necessary knowledge.
The transformation must not only manifest itself in processes, but throughout the entire business model. Belgian companies that do well internationally incorporate the latest technologies into their processes, but also into their products and services. The leading companies today are those that are reinventing themselves and will continue to do so.
Personalized products
This transformation is essential because there is an increasing demand for personalized products. Technology makes it easier than ever to meet that demand, so companies need to look for the right technologies and infrastructure to customize their production lines.
Innovative techniques such as 3D printing and AI-streamlined production lines make it possible to create even more value for customers in a cost-efficient manner.
Flexibility
This constant effort to keep reinventing requires flexibility, which is not yet self-evident in every sector. In the automotive industry, for example, changing customer demand is seen as the biggest challenge. Companies want to respond, but if developments do not proceed as quickly as expected or the logistics chain lags behind, it leads to difficult situations. That is why we see a movement toward regionalization instead of globalization, with local suppliers gaining popularity again. Being able to switch quickly is therefore essential and requires clear, efficient processes, a broadly deployable workforce and smooth collaboration and communication at all company levels.
Sustainability
Finally, the shift to sustainability is also reaching cruising speed. While in recent years this factor was often seen as a burden, today it is an absolute necessity. Both in the way of doing business and when developing products and services, companies must pay attention to the footprint of what they do. Although not obvious, they have to reconcile stricter regulations and cost efficiency. Not many companies have found the ultimate solution for this; it’s a matter of balancing your sustainable ambition with the economic reality.