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Manufacturing

Keeping Pace

Both the immediate and long-term future of the manufacturing industry will be defined by the development of a number of ever-evolving and prominent trends, according to the Assoc. of Equipment Manufacturers. These trends are poised to have a significant impact in 2021 (and, in many cases, beyond), so it’s critically important for manufacturers to develop a keen understanding of what they are, how they will grow over time, and how they will impact the industry and the customers it serves.

 

COVID-19 and Employee Safety

It almost goes without saying that workplace safety and compliance with CDC guidelines and OSHA regulations (along with local safety measures) will remain front of mind for manufacturers as 2021 gets under way. With COVID-19 cases on the rise in many parts of the world, organizations will need to continue to be vigilant in their efforts to protect employees. Doing so, however, requires a significant investment of time, effort, and resources on the part of company leaders.

While an efficient rollout of an effective vaccine for COVID-19 would bode well for an eventual return to normalcy for the manufacturing industry, the impact of such a rollout won’t be felt for some time. In the interim, organizations will need to continue practicing social distancing in the workplace, restricting visitors to facilities, encouraging the practice of good hygiene, and ensuring employees are healthy and fit for work before allowing them on the job.

It’s been nearly a year since the COVID-19 pandemic took hold in the U.S., and it remains a major challenge for manufacturers across the country and around the world. While companies do have plans and protocols in place to combat the virus, adhering to them and ensuring the health and well-being of employees is — and will continue to be — no small task.

 

Connected Workforce

The desire to equip workers with technology capable of allowing them to connect and collaborate from a distance has long been on a trend on the rise within the manufacturing industry. As older generations continue to leave the workforce and are replaced by younger employees, and the rise of the big-data era in manufacturing takes shape, finding tools and technologies to make an increasingly spread-out and remote workforce as productive as possible is a top priority for companies today.

As a recent article from McKinsey explained, the ongoing COVID-19 pandemic has led to an increased reliance on digital collaboration to establish and maintain a connected manufacturing workforce. An increased emphasis on safety and changes to work processes, in an effort to maintain social distancing and minimize physical contact, has led organizations of all types and sizes to adopt cutting-edge ways to allow for workers to communicate and interact virtually.

While the widespread impact of the pandemic has caused this trend (and the adoption rate of related tools and technologies) to grow, it remains critical for manufacturers to provide training and resources to employees as they try to maximize productivity from afar. Why? Because doing so is poised to pay off over time. According to McKinsey, “by digitizing processes to improve equipment management and optimize physical assets, digital collaboration tools give manufacturers ways to boost productivity while enhancing quality.” And those who do it first — and well — will achieve a significant competitive advantage.

 

Internet of Things

The Internet of Things (IoT) has long been a trend to watch in manufacturing, and this year is no different. As it continues to grow in prominence and becomes more and more widespread over time, IoT technology will drive value for the industry by allowing organizations to make measured, informed decisions using real-time data in an effort to increase efficiency and positively impact their bottom lines.

According to a recent study conducted by the MPI Group, approximately 31% of manufacturing production processes now incorporate smart devices and embedded intelligence. Furthermore, more than one-third of manufacturers have established plans to implement IoT technology into their processes, while 32% plan to embed IoT technology into their products.

IoT technology offers both remote-monitoring and predictive-maintenance capabilities, making it even more valuable for organizations looking to maintain visibility of equipment performance from afar. With the COVID-19 pandemic continuing to impact the industry in 2021, IoT technology will continue to be a go-to for manufacturers looking to maintain efficiency and productivity.

 

Localized Production and Near Sourcing

The rise of customization and personalization has given way to large opportunities for manufacturers willing — and, perhaps more importantly, able — to succeed in a localized economy. By rethinking the way products get out to the public, organizations can craft an ecosystem of smaller, flexible factories located near existing and prospective customers.

Manufacturers are used to thinking on a global level. However, shifting their focus to a local level, they may be better able to meet the ever-changing needs, wants, and preferences of the markets they serve. Consumers are making it abundantly clear that authenticity matters, and a localized approach to manufacturing is proving to be among the most effective ways to for organizations to respond accordingly.

The impact of COVID-19 also cannot be discounted. The pandemic has led manufacturers to re-evaluate and reconsider sourcing, largely due to supply chain disruptions (especially in the earliest days of COVID-19). As a result, manufacturers have made a concerted effort to bring their operations closer to where their offerings are sold, and there has been an increasing desire on the part of many companies to source raw materials from domestic suppliers. All this is being done in an effort to avoid pandemic-related disruptions and support the U.S. economy during these uncertain times.

 

Predictive Maintenance

It’s no secret that the ability for manufacturers to predict impending equipment failures and — more importantly — prevent equipment downtime is incredibly impactful to their bottom lines. Advancements in technology now allow organizations to do just that (and much, much more).

The benefits, according to a recent blog post from EAM-Mosca Corp., showcase why predictive maintenance (PM) is so valuable to organizations today. PM helps companies reduce costs, decrease failures, minimize scheduled downtime, and optimize parts delivery

Effectively conducting predictive maintenance is no easy task, however. Adopting a (successful) predictive maintenance model requires manufacturers to gain insights into the variables they are collecting and — more importantly — how often those variables present themselves on factory floors. Therefore, it’s imperative for manufacturers to possess accurate and relevant knowledge about their equipment. They must know what previous failures have taken place, and they need to make decisions around lead time — becausem the closer to failure a machine is allowed to go, the more accurate the prediction will be.

 

This article was written by the Assoc. of Equipment Manufacturers.

Coronavirus Features

Looking Up

Could better times be around the corner? A growing number of executives across the U.S. think so.

In the just-released 2021 National Business Trends Survey from the Employer Associations of America (EAA), 44% of company executives see an improving economic outlook in 2021. This annual survey shares information on what executives nationally are doing to address the changing business climate. Survey responses also reflect the impact COVID-19 has had on this year’s business trends.

When executives were asked if the overall U.S. economy in the next 12 months will “improve, stay the same, or decline,” the largest segment of respondents (44%) think it will improve, as opposed to last year, with only 12% expecting the economy to improve — and that was before the pandemic had come into view. This year, 33% think it will stay the same, as opposed to 52% last year. Only 24% think it will decline, compared to 36% a year ago.

“COVID certainly has had a significant impact, and perhaps many are feeling that the economy can only get better moving forward into 2021,” said Thoran Towler, who chairs the EAA board of directors. “In fact, fueling that optimism, 57% of executives project slight to significant increases in sales and revenue. American businesses are showing their resilience and readiness to tackle today’s challenges and come out stronger than ever before.”

An additional 11 questions were added to this year’s survey regarding COVID-19’s impact on business, addressing employee safety, stay-at-home measures and social distancing, remote work, online interviews and training, hazard pay and bonuses, and candidates who are unwilling to work in the office or out in the field.

When asked how concerned respondents are regarding COVID-19 and its impact on business continuity (specifically the supply chain, financial implications, and temporary shutdowns), 52% indicated they are “extremely to moderately concerned.” In the Northeast, 43% of the region’s executives expect the pandemic to negatively impact business and capital spending either moderately or significantly.

However, companies are already starting to pivot from a focus on pandemic measures to investing in the future. As the charts the two charts demonstrate, respondents expect to put less effort into COVID-specific activities in 2021 than they did in 2020, and more effort into investing in technology, equipment, and other efforts to grow their business.

“The pandemic has forced companies to be agile and innovative during these uncertain times,” said Mark Adams, director of Compliance at the Employers Assoc. of the NorthEast. “While expenditures are being scrutinized now more than ever before, the need to invest strategically nonetheless remains important as businesses seek to position themselves to rebound in 2021 and make up for lost ground.”

Similar to last year’s survey responses, the top three serious challenges for business executives include talent acquisition, talent retention, and the ability to pay competitive wages. The ability to pay for benefit costs and the cost of regulatory compliance rounded out the top five.

Also noteworthy for 2021, 64% of the survey respondents are planning to award wage and salary increases, while 29% plan to award variable pay bonuses next year.

The EAA is a national nonprofit association that provides this annual survey to business executives. The 2021 survey included 1,484 participating organizations throughout the U.S., an increase of nearly 400 over last year’s survey.

Construction

Home Makers

Walk-in closets in master bedrooms, low-emissivity windows, and laundry rooms are the most likely features in typical new homes in 2020, based on a recent survey of single-family home builders by the National Assoc. of Home Builders.

Energy-efficient features such as efficient lighting, programmable thermostats, and ENERGY STAR appliances will also be popular, as will open design concepts such as great rooms and nine-plus-foot ceilings on the first floor. Energy-efficient or eco-friendly features not likely to be included in new homes, however, are cork flooring in main-level living areas, geothermal heat pumps, and solar water heating and cooling.

Consumers continue to desire smaller homes, not only in overall square footage, but also the number of features, such as bedrooms and bathrooms. This four-year downward trend has led to the smallest average home size since 2011 at 2,520 square feet — only 20 square feet above the average in 2007, the pre-recession peak. The percentage of homes incorporating four-plus bedrooms, three-plus full bathrooms, and three-plus-car garages have also dropped to levels not seen since 2012.

“This points to an industry trying to meet the demands of the entry-level home buyer,” said Rose Quint, NAHB assistant vice president of survey research. “Builders are struggling to meet these demands, however, because of factors such as restrictive zoning regulations and lot prices, with the price of a new lot in 2019 averaging $57,000.”

NAHB also examined preferences among first-time buyers and repeat buyers to help builders determine what features are most likely to resonate in the market in 2020. When asked which they prefer, the majority of both first-time buyers and repeat buyers would rather have a smaller home with high-quality products and services than a bigger home with fewer amenities. The top features desired by both groups include:

• Laundry rooms;

• ENERGY STAR windows;

• Hardwood flooring;

• Walk-in pantries;

• Patios;

• Ceiling fans; and

• Kitchen double sinks.

These trends are reflected in this year’s Best in American Living Award (BALA) winners as well. For example, designers are including flex spaces that add increased functionality to laundry rooms, hardwood flooring and wood finishes to add warmth and character both inside and outside the home, and creating outdoor spaces that seamlessly integrate with indoor living.

“This points to an industry trying to meet the demands of the entry-level home buyer. Builders are struggling to meet these demands, however, because of factors such as restrictive zoning regulations and lot prices.”

“Every year, winners of the Best in American Living Awards showcase the best of what the home building industry has to offer,” said Donald Ruthroff of the Dahlin Group. “As the chair of the BALA subcommittee and BALA judging, I am privileged to see projects from across the nation, and those projects help me identify the design trends that drive discussions in our offices with our clients.”

Designers are also working to address attainability concerns by developing multi-family and higher-density projects that feel more like single-family homes to meet consumer interest at more affordable price points.

Features

The Future Is Now

Both the immediate and long-term future of the manufacturing industry will be defined by the development of several evolving trends and cutting-edge technologies. According to the Assoc. of Equipment Managers (AEM), many of these are poised to have a significant impact in 2020 and beyond, so it’s critically important for manufacturers to develop a keen understanding of what they are and how they will grow over time. Here are the five most notable trends the AEM sees impacting those within the industry, both this year and in the future.

Wearable Technology

Manufacturers of all types and sizes are increasingly looking into — and investing in — wearable devices with different sensors that can be used by their workforce. According to a recent article from EHS Today, electronic features found in wearable devices allow for organizations to monitor and increase workplace productivity, safety, and efficiency. In addition, employers are now readily capable of collecting valuable information, tracking activities, and providing customized experiences depending on needs and desires.

Predictive Maintenance

Effective equipment maintenance is central to the success of any manufacturer. So the ability to predict impending failures and mitigate downtime is incredibly valuable. Predictive maintenance gives manufacturers the means to optimize maintenance tasks in real time, extending the life of their machinery and avoiding disruption to their operations.

However, iIn order to successfully build a predictive maintenance model, manufacturers must gain insights on the variables they are collecting and how often certain variable behaviors occur on the factory floor.

5G/Smart Manufacturing

Smart factories are becoming the norm in manufacturing, and they rely on connected devices to leverage technologies like automation, artificial intelligence, and more. In addition, these devices are capable of sensing their environments and interacting with one another. As factories of the future continue to grow and develop, manufacturers need to realize that they must be able to adapt the networks that connect them, efficiently and effectively.

VR and AR

When it comes to using augmented reality (AR) and virtual reality (VR) in manufacturing, the possibilities are endless. Whether it’s helping make processes more efficient, improving product design and development, or maintaining machinery more effectively, these technologies are capable of becoming game-changers in the coming years.

According to an article from PwC, manufacturers are becoming more adept at finding ways to incorporate these technologies within their organizations in an effort to drive a future defined by digital connectivity. In fact, one in three manufacturers have adopted — or will adopt — VR and AR in the next three years.

Cybersecurity

The importance of cybersecurity in manufacturing cannot be overstated. More and more connected devices are being integrated into organizational processes each day, so it almost goes without saying that the manufacturing industry needs to develop a keen understanding of how to best deal with them.

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