ENGINEERING AND MANUFACTURING OUTLOOK FOR 2022
The third decade of the millennia may not have had the charismatic start we were all hoping for in 2020, but the horizon seems bright ahead. The fast-tracking of digital transformation across engineering and manufacturing businesses over the last few years has opened multiple opportunities, and the outlook seems positive for the industry as a whole.
The industry is witnessing some major trends, led foremost by process automation and artificial intelligence (AI) in the wake of the pandemic.
While technology is all set to dominate the engineering and manufacturing industry this year and beyond, there are also some additional aspects making their way to help businesses deal with challenges of stiff competition and supply management, to name a few.
So, what’s in the pipeline for engineering and manufacturing in 2022? Let’s find out.
Stress on sustainable
As we step into the new year, engineers and manufacturers across the UK must realise the significance of sustainability across business and operation models. This is because there is increasing pressure on businesses today to follow through with, and report upon, their sustainability plans in the wake of the UN Climate Change Conference, COP26.
Players who fail to comply with the rising demand for sustainability in their quest for a quick economic rebound are risking too much because the future is all about sustainable development. Engineering and manufacturing industry leaders in the UK, therefore, must consider the fast rise of environmental, social, and governance factors.
From controlling capital costs to boosting diversity, equity, and inclusion, from focusing on net-zero and carbon-neutral goals, more and more voluntary compliances need to be looked at proactively.
The digital revamp
Long-term growth and profitability seem set on the cards for the manufacturing and engineering industry, but only as long as the players embrace digital capabilities across verticals. A strong digital foundation will be key to competitive advantage, allowing individuals and departments to connect and analyse data effectively.
The 5G revolution in the UK is all set to drive new growth and greater adoption of myriad digital solutions for the better. Industry players who are quick to adopt this reinforcement will enjoy the benefits of automation, integration, and oversight, without relying on manual intervention.
Embracing the Cloud
The manufacturing and engineering industries are going to be quick to adopt cloud technology to offer connected services to customers, in a bid to stand out and ahead of their competition. With the kind and amount of data being generated today at every point in the customer journey, cloud technology will help these businesses build resilience into data models.
A single point for accessing all data, while still maintaining hierarchies, along with benefits of instant data sharing, paperless data storage, time-saving archival or retrieval, and the possibility of building connected services will drive this adoption.
Prioritising the 4IR
The 4IR (Fourth Industrial Revolution) age is here, and engineers and manufacturers need to prioritise this transformation immediately. Departments cannot work in silos anymore, and the supply chain crisis will need a stable, effective solution – challenges that the 4IR will answer. Hyperautomation, IoT, smart factories, and Big Data are the advancements that the industry will be looking up to.
Specialisation is the need of the hour!
The first step towards this approach would be to add a mix of the best talent and skills to the organisation, followed by active engagement with them throughout the design, implementation, and monitoring processes. This alone can help ease technology adoption throughout the organisation from the bottom-up, instead of imposing these reforms top-down.
If you would like further information, insight and advice on this topic please do not hesitate to get in touch with a member of the White Label team, today! email@example.com
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