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Automation
In the late 90s during the Industry 3.0 age, manufacturers moved to automated injection molding machines which created efficiencies in the production of customer parts and overall output volumes. "It’s realistic to see up to a 30-percent increase in production by using automation in the manufacturing process. A more efficient production process gives way to increased output and allows manufacturers in the U.S. to be more competitive."(Grigg, n.d) -
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Manufacturing
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Cloud Computing
"Cloud-based solutions offer manufacturers a wide range of benefits, among the most significant of which are: scalability; operational efficiency; application and partner integration; data storage, management, and analytics; and enhanced security. In particular, cloud computing facilitates research, design, and development of new products, which powers innovation, reduces product development costs, and speeds time to market."(Ezell, Swanson, n.d) -
3D Printing
3D Printing allows for rapid design Iteration and extreme cost savings, for example creating a mold for and prototyping an engine would take 6 months and be extremely expensive. "Ford is 3D-printing these molds in four days at a cost of $4,000. Taking advantage of this enormous reduction in time and cost, Ford recently decided to make not just a single engine prototype for a new car, but numerous versions to be tested simultaneously."(Smith, 2018) -
Artificial Intelligence
Companies are investing in AI and sensors to collect information at every stage of their processes. They are then using that data to develop better version of what ever they are testing or as a means a way of creating a more intuitive platform for their employees and customers. They are also using AI to create an even deeper connectivity between the various systems of there companies as well as seeing significant gains in productivity an better on time delivery rates. -
Internet of Things
"The Industrial IoT (IIoT) provide access to real-time supply chain information by tracking materials, equipment, and products as they move through the supply chain. Effective reporting lets manufacturers collect and feed delivery info into ERP, PLM and other systems. All the parties in the supply chain can trace interdependencies, material flow and manufacturing cycle times."("Https://www.newgenapps.com/blog/8-Uses-Applications-And-Benefits-Of-Industrial-Iot-In-Manufacturing", 2018).
