If you are in manufacturing, you will know that the industry never stands still. Instead, it evolves and adapts year after year without fail. Therefore, the key to success is to change with the times. Anyone that fails to do so will get left behind in the rearview mirror. The thing is, how do you evolve at the same pace? The answer is to understand the current trends and fashions and implement them into your business plan. Then, the company will be one of the most modern and effective firms in the market.
With that in mind, here are the trends to be aware of this year:
The market has never been more volatile thanks to Brexit and Trump’s inauguration. As a result, no one on either side of the Atlantic knows what to expect in the coming years. And, trade is taking a hit as businesses and entrepreneurs move to cover all the bases. In the end, it might turn out fine, and President Trump and Brexit could be a positive. However, all the signs don’t point that way at the moment. As such, it is vital that manufacturers look into the potential pitfalls in the coming months to avoid disaster. By 2018, the face of the industry could be unrecognisable.
Contrary to popular belief, automation has only increased. Experts believed it would have to slow down, but it shows no signs of stopping. Of course, savvy bosses will know that automation is still the way to go at the moment. After all, the positives outweigh the negatives. However, it is about getting it right and keeping one eye on the future. The key is to get the right mix between electronic services and human resources. Governments don’t like the fact that technology could wipe out more jobs in the future, and they are going to fight back. You don’t want to be top heavy in that situation.
Shortage Of Skills
Sadly, manufacturing isn’t an industry that is chock-a-block with skilled employees. In truth, the number of skilled workers is declining each year, and that is a major problem. Due to a greater emphasis on formal education, people lack the necessary experience when it comes to the real thing. The solution for business owners is on the job training. With the help of seminars and online courses like a master lean program, it is possible to up skill. What’s more, it is also possible to retrain employees to take over new responsibilities.
Cyber Security Risks
All businesses have a greater connectivity percentage than before. Some even rely on the Web more than machines or technology. There are lots of positives, but one negative stands out: hackers. When a company links to the internet, it opens itself to attack. The risks are pretty significant because anyone can access data and disseminate information. So, you need to take steps to make the business more secure, such as password rotation and investment in antivirus software.