With new technology and an evolving global economy, it’s imperative that manufacturers stay apprised of the latest in manufacturing technology trends. While manufacturing is outpacing the average growth for the global economy, some companies are still struggling with labor shortages, fluctuating supply logistics, and advances in predictive maintenance. As technology changes, manufacturing must change with it, and understanding the technology trends of the manufacturing industry is key to avoid being left behind.
Agriculture & Construction are Using Robots
A recent manufacturing study reported that over 80% of companies listed workforce issues as one of their top three challenges facing their business. Despite record growth rates, manufacturers are still struggling to attract and retain top talent. The industry hasn’t been able to maintain the allure and sense of stability that it had decades ago, and competition overseas has driven wages down. To get around this issue, agriculture and construction companies have begun to develop robots and other complex machines to fill in the labor gap. With industries more and more dependent on autonomous robotic technology to produce goods in a timely manner, it is essential to have an independent repair service that is well versed in the most advanced technologies to minimize downtime.
Aerospace is Investing in Artificial Intelligence
With an estimated $8.7 trillion in economic output over the next ten years, aerospace is growing at an impressive rate. Increased dependence on air travel and advances in aerospace and materials engineering are some of the factors that have contributed to the growth of the industry. However, recent studies show that the sector’s investments in artificial intelligence programs are the real secret weapon for airplane manufacturers–which is why the total spend on machine learning programs increased by over 75% in 2018.
The reason for this development is the necessity in minimizing both machine breakdowns (which can mean loss of life when you’re talking about airplanes), and the high cost of conducting unnecessary repairs. It costs a fortune for an airplane to be taken out of operation for unnecessary maintenance. Artificial intelligence programs can collect data and make predictions based on the real-time health of the machine to accurately and safely optimize equipment repairs. Utilizing third-party repair services that can implement data from predictive maintenance programs, is key to cutting costs in the long run.
Manufacturers are Using Cloud Storage to Optimize Supply Chain Management
One trend that has been consistent across all industries for many years, is the increased reliance on the Industrial Internet of Things (IIoT) to collect and interpret data from multiple sources simultaneously. Manufacturers have primarily been using data stored and analyzed in cloud programs to schedule repairs and reduce maintenance costs. This has proven to be an effective way to cut down on the expensive practice of running machines until they break, or following manufacturer recommended repair schedules that tend to be overly-cautious.
Recently, many manufacturers have taken the information gleaned from IIoT devices a step further by utilizing the data collected to optimize supply chain management practices. In a global economy, the cost of producing too much or too little adds up. From storage and material costs to customer turn-over, it’s essential manufacturers are able to accurately estimate and meet their demand needs. Utilizing data about machine health and longevity allows manufacturers to schedule repairs for lower demand time periods in order to optimize machine performance in peak seasons. Working with repair services that know best how to optimize data from IIoT devices is essential to get the most of these benefits.
If you are in need of a cutting-edge spindle repair service to stay apprised of all the advances in manufacturing technology trends, contact the professionals at GTI Spindle today.
About GTI Spindle Technology
At GTI Spindle Technology, we specialize in high-quality spindle diagnosis and repair. Getting your business back into full operation and minimizing downtime is our mission. We offer in-house, on-site, and emergency assistance for machine tool spindle failure analysis, spindle repair, and complete spindle testing. With an extensive range and expertise in a diverse group of industries, our customers know that they are getting the highest quality of spindle repair and customer service. Click here to find out more.
