The 2020 year for the manufacturing industry a tumultuous year. Due to the pandemic this year, manufacturing industry production slowed down. Suppose we are talking about the good and great supply chain or manufacturing of the world. After conversations with COOs, CEOs, CMOs, CTOs, it knows that a new era in the manufacturing industry is dawning. It is underway a big reset in the companies operate way, from basic rules of their business models, operating procedures, from home strategies, work, companies market way right through and products their sell.
After the following 2020 trauma, it is believed that the twenties once again will roar and deliver in history’s best innovative decade. The loss that came due to the virus in the manufacturing industry may overcome in the next years. It is the best accelerator of innovation and creativity that forced companies to adapt and rethink to reset the manufacturing industry.
A revolution in EMS is underway
For those involved directly in the strategy of supply chain and manufacturing, they must reassess old business models of decades. The electronic manufacturing services (EMS) industry is about fifty years old, and rapid growth has changed very little in the nineties.
The traditional model drives supply. The companies of EMS on a grand scale build capacity and that capacity they sell. How they can improve their capacity utilization, their actual performance is linked closely to it. And the emerging models turn the demand equation and supply that pay more focus on elastic capacity utilization and supply available constantly in the market. And these models of business are gaining traction.
Moreover, these models than other predecessors are more digitally enabled and often more user and customer-friendly. These models are similar to Uber, which is an industry disruptor. These shifted from a taxi model supply-based to one focused on-demand flexible capacity that an intuitive digital interface wrapped.
This disruption leads many companies, including all those companies that the digital manufacturing ecosystem created for parts like Felicity, 3D Hubs, and Xometry. Also, those in the box build and PCBA space like Tempo Automation and MacroFab and new entries excited like Launchpad build that artificial intelligence used to create instant pieces and assembly instructions for CloudNC smaller volume manufacturing. In the UK, an autonomous CNC developing by them around the world will be the model around the world.
The iceberg tip is these ambitious, bold disruptors, more working with hundreds to an industry digitally transform that relied on outdated planning, triable knowledge, or executive methods. They are holding technologies key ingredients, like adaptable automation, machine learning, robotics, or AI, to an industry shakeup that many see as outdated and stuffy.
The incumbents with the capability and impressive capacity in the industry are not unaware of presented challenges, and the most existential challenge is the digital transformation journey from a supply model to moving a demand-led solution.
The smarter race to be
The challenges of the early nineties and late nineties the quest to be the cheapest and the pas’ biggest pas is a relic. Those who want a solution for their manufacturing to outsourcing that is agile, digital, or resilient to whatever around the corner are lurking disruptions. However, for every company of EMS, the challenge is to be the smartest.
The biggest challenge faces the biggest players. There footprint by China dominated and also having review about serving of their brands explore for their factories best location. They have more complex or longer supply chains. In this post-pandemic world, they need to adapt fastest to thrive and survive. So it’s time to overcome all these losses that we faced due to this virus. The services of manufacturing industries slowed down, not it’s time to speed them.
And the traditional companies of EMS also transforming digitally; some speed up their speeds. In the industry, the change occurring from these changes will benefit get more advanced companies. Because they already can quickly adapt and also have enough resources that they invest in these transforming. And also, their asset base and footprints can develop. They are already aware of all changes occurring in the industries and explore how they can prepare a developmental new phase for their industries. Moreover, they transform their customer-facing system, factories, business practices, and more importantly, explore business models for their factories.
This picture of transforming not white or black. It’s not all about disruptors and new entrants. The traditional EMS models many certain products offer, particularly consumer goods of higher volume, that for large scale production are ideally suited. Moreover, smaller EMS players in narrow niches operating, like geographies and specific industries where highly valued specialist knowledge is likely preferred for a solution. However, they must adapt to create space for the manufacturing industries for all these models. And the new solutions also must appear that by following EMS companies can better their production. Those who already know this solution then this is a big opportunity for them to better their manufacturing industries and appear with a better comeback.
To the future looking ahead
The pandemic of Covid-19 was the ultimate cause of tumultuous change of industries and accelerated these industries and focused more. That’s why transformation accelerated due to this virus. According to current reality, accelerate the transformation, customers, pushing executives, investors, and even government to look closely more at the manufacturing industry. It is also suggested that in a column, a pivotal year would be 2020 for the industry. But not sure what happened exactly this year. But it’s time to think about these issues seriously that we faced now and believe that the most innovative decade is our history’s twenties. When our world-changing it means that our manufacturing industries also increase or change. So to the emerging new EMS industry, the most exciting ever decade will be this twenties.
This year in 2020, we faced unexpected facts in all industries. All industries affected due to this pandemic of Covid-19. But the better thing that comes in these days is that the manufacturing industries accelerate more due to this pandemic. So we defiantly will see the next approaches of manufacturing industries in the upcoming year.
Author bio
Elizabeth is a content retailer working for the Assignmentmax and gives law dissertation writing service. She works with brands and assists them in generating functional and interesting content for their blogs.