Manufacturing Challenges 2020

Manufacturing is like never before; and, fresh challenges await the ever-evolving industry already hit by a myriad of speed bumps in 2019.

Manufacturing challenges for 2020

Local to a global manufacturing approach

Changing customer buying behavior has forced many manufacturing companies to go digital and this has opened doors for companies across the globe. If the local companies really have to thrive, they must come up with a fresh approach to making their products digital to brand and sell their products successfully. So, beating the global competition is really going to be a huge challenge for the industry.

Related: https://www.hakunamatata.in/our-resources/blog/smart-manufacturing-top-5-shop-floor-challenges-and-solutions-to-overcome/

Addressing skill gap
Staff shortage is a growing problem in most manufacturing companies.

Here are some key statistics that resonate with the above argument.

According to a CNBC article:

The manufacturing sector is facing a more immediate problem than the ongoing trade war: a growing skills gap.
The National Association of Manufacturers says a record 522,000 jobs remained open in the sector in September.
A report by The Manufacturing Institute and Deloitte last year found that 4.6 million jobs will need to be filled in the sector over the next decade, and 2.4 million jobs may be left open due to a lack of trained workers.

With such large positions in open, the industry really awaits talents to overcome the pressing skill gap challenge.

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Upgrading to new technologies
There is always a challenge for manufacturing when it comes to migrating to new technologies from the existing. The need for adoption to new technologies is growing strong as automating the complex processes is saving time and money, while increasing faster time to market.

With the advent of technologies like Artificial Intelligence, Machine Learning, Robotics, IoT manufacturing can accelerate their productivity and take it to the next level.

Marketing for manufacturing
Taking manufacturing products to global competition requires digital marketing efforts. Branding the company is critical as it will improve their visibility and help in reaching out to customers without any difficulty. Meeting customer expectations is a must and manufacturing companies have started to focus on forming a digital marketing team that can promote the products and takes it to customers.

Related: https://www.hakunamatata.in/our-resources/blog/smart-manufacturing-vs-traditional-manufacturing/

Integrating data and decision making
A huge challenge that awaits the manufacturing companies is the availability of mammoth data. Using high-end technologies like AI and IoT have helped most companies to leverage a large volume of machines and human data.

This has contributed to extensive data to analyze and make decisions. However, making decisions is extremely difficult for companies and many leaders don't have any clue on how to deal with such a huge volume of data. The whole industry is looking for a solution to this persistent problem.

Weathering this storm could take a while for the industry; however, the significance of adapting to new technologies can't be ruled out.

Company Name: Hakuna Matata Solutions Pvt Ltd

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For more info: https://www.hakunamatata.in/

Hakuna Matata Solutions is a leading Digital Transformation Company offering a full spectrum of technology solutions and services for enterprises across different industry verticals all over the globe. As a 14-year-old company, in addition to developing mission-critical business applications, we also focus on leveraging the power of cutting-edge digital technologies like IoT, AI, Chatbot, and Cloud to develop business-specific solutions that help enterprises transform their conventional processes impacting their efficiency, productivity and ensure rapid growth, RoI. We have 200+ technology experts with hands-on expertise across mobile & web platforms, UI/UX, IoT, RPA, Cloud, etc. and proven track record of serving customers across different industry verticals like Manufacturing, Construction, Logistics, etc.
For more info: https://www.hakunamatata.in/

This release was published on openPR.