Manufacturers irrespective of their industry segment and geographical spread are facing challenges in all areas of their business, the sheer uncertainty which exists in the market due to global trade wars, international conflicts, heightened regulations, local and regional restrictions, and changing tariffs are all contributors to this unprecedented level of chaos.
There are, however, industry-specific, people and technology-related challenges as well, there is a clear and growing knowledge/skill gap between the existing old-school workforce and the new more digitally adept one. Understanding what technologies to implement to further the company’s vision and doing so with minimum disruption is another challenge. Competition is tighter than ever, digitization is being pursued by each and every manufacturer, which means improvement in efficiency and profitability are critically important. Even in relatively stable batch-type discreet production facilities, customer demands for personalization and customization are leading to a larger than ever product mix.
