From increased efficiency in supply chains to the shift to customization-oriented production, the manufacturing sector is now witnessing a fundamental transformation in many of its factories.
Referred to as the Factory of the Future, this transformation across the global manufacturing landscape is seen as the outcome of advancements in automation, coupled with developments in information technology. In other words, companies are finding ways, if they haven’t started already, to have smarter integrations between their digital capabilities and their physical production systems. For instance, the innovations happening in information and communication technology (ICT) and how they are leveraged in the Internet of Things (IoT), allow manufacturers to better capture critical data that can help them improve their value chain. The emergence of new manufacturing technologies, on the other hand, give manufacturers the flexibility they need in their production lines to become more responsive to the market demands.