Top Manufacturing Predictions for 2014
Posted January 3, 2014 & filed under References
What’s in store for the manufacturing industry in 2014? Experts from the International Data Corporation (IDC) have released a report that details their predictions for the upcoming year.
Coming off of a strong final six months in 2013, the manufacturing industry saw increases in its PMI index as well as renewed confidence in everything from durable goods to automobile manufacturing. The future of the industry as a whole may be dim, but it is cast in a positive light nonetheless.
So what exactly did the IDC have to say about the manufacturing industry? Here are their top 10 predictions for 2014:
• Manufacturers will begin to build 3D value chains.
• Operational, information, and consumer technology will converge to reshape approaches to technology management.
• Operational resiliency will be the focus of supply chain strategies in 2014 and beyond.
• Supply chain technology investment will involve modernizing existing systems, while also trying new approaches.
• The modernization of the underlying B2B commerce backbone will become an investment priority for IT companies.
• Product life cycle management (PLM) strategies will become increasingly global, multidisciplinary, innovation-based, and customer-focused.
• PLM initiatives will focus on value realization.
• “Servitization optimization” will be key to future profitable revenue growth and leading manufacturers will make the necessary investments to enable these strategies.
• On their way toward the factory of the future, 2014 will set the stage for a new manufacturing renaissance.
• Plant floor IT investments will continue to become a higher share of the overall technology investment portfolio.
The manufacturing industry has shown no signs of slowing down in the coming months, and could continue to grow at an even greater rate as we progress through 2014. Positive growth in the industry could lead to increased expansion of companies along with more money being pumped into research and development. If the IDC is correct with half of their predictions, it looks like it could be a big year for the manufacturing industry.
By Kevin Withers