Michigan Economic Development Corp. (MEDC) Starts Preparing Companies for the Future of Manufacturing
Michigan's manufacturing sector is crucial to its economy. It accounts for nearly 20% of the total output in the state, generating $102.35 billion and employing 631,000 people. Here's what MEDC is doing to ensure this critical part of the economy maintains growth.
Many businesses have folded, thousands of jobs have been lost, but there is an upside to this - many have managed to ride the wave and come out the other side with a stronger, more resilient business model that will drive them forward despite uncertain times.
New orders hit a 16-month low in October 2021, according to the Institute for Supply Management (ISM). Similarly, 26 commodities were in short supply, some for more than a year. However, despite these setbacks, manufacturers still have a chance to grow.
Supply chains and the climate are more intricately linked than many may realize. Just eight global supply chains are responsible for more than 50% of greenhouse gas emissions.
Plant controller systems based on static models are not responsive enough to adapt to changes and prescribe actions to insure optimal outcomes. As a result, set points are adjusted every now and then by operators who hunt for good conditions.
Naveen Poonian, CEO of iBASEt shares 3 predictions for the manufacturing industry for 2022. Expanded Competition for "Digital First" and Cloud Adoption leads to Improved Analytics, better decision making and improved remote-first operations.
Smart factories, in particular, could transform the automaking industry to reach its full potential. As the sector grows more competitive, manufacturers that embrace this trend early could see promising results.
Bringing big changes to any plant takes a significant amount of thought and resources. Hence, it is better to follow a plan and move one step at a time to avoid any negative side-effects to production.
Rural manufacturing's comparative decline is multifaceted, but the solution may not be. One of the most impactful distinctions between today's most and least competitive manufacturers is access to reliable, high-speed internet.
Manufacturing is one of the largest industries in the world, with demand growing every day. The IoT provides countless opportunities for optimization, cost reduction, and improved performance.
AI and machine learning offer manufacturing a chance for new and stable growth. When paired with traditional automation, these technologies can improve efficiency and decrease costs.
Over the past few years, several significant obstacles have emerged for manufacturing supply chains. Here are three of the most pressing of these and what strategies could address them.
To pursue a sustainable future, manufacturers need to find options to increase energy efficiency. Industrial robotics is an ideal way to help improve sustainability and minimize the environmental impact of manufacturing activities.
Location-Based Automation- Why a Digital Twin of Moving Things is the Missing Piece for Successful Industrial Automation
This article outlines why the promising concept of the digital twin has often fallen short of its goal of end-to-end automation and connectivity.
Manufacturers are facing a troubling scenario: the need to maintain production levels in the midst of the largest workforce shakeup in our lifetime. The Industrial Internet of Things (IIoT) provides a highly effective, flexible and cost-efficient solution.
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