Being profitable in part manufacturing is never easy, and over the past few years has become even harder. Many companies in this industry sector continue to ignore the importance of digitalization relying on traditional ways of production. Manufacturers, irrespective of their size, often fail to understand the exponential escalation of costs caused by productivity inefficiencies and continue operating using “islands of automation”. The digital process gets abruptly broken when the part manufacturing hits the planning and production stages. Sounds familiar?
Digitalization of the part manufacturing sector can no longer be overlooked, and this article aims to touch on the key foundations to transform the sector so the various market challenges can be efficiently addressed, with increased level of competitiveness, and most importantly profitability.