IQReport August 10, 2017
Smart Factories Will Deliver $500B In Value By 2022
The smart factory revolution in manufacturing is firmly underway. In fact, 43% of all manufacturers currently have an operational smart factory initiative, and another 33% are in the process of defining one.
Forbes recently featured the results of a study conducted by Capgemini (a global leader in consulting, technology and outsourcing services) that assessed how manufacturers can drive the most value from smart factories. Notable takeaways from the study include the following insights:
- Smart factories are revolutionizing manufacturing by enabling a 7X increase in overall productivity by 2022.
- Smart factories have the potential to add $500B to $1.5T in value added to the global economy in five years.
- Industrial manufacturing (67%) and aerospace and defense (62%) lead the industry in the launch of smart factories.
Manufacturing Growth Continues in July
Economic activity in the manufacturing sector expanded in July, and the overall economy grew for the 98th consecutive month, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®.
Comments from the panel of executives generally reflect expanding business conditions, with new orders, production, employment, backlog and exports all growing in July compared to June, as well as supplier deliveries slowing (improving) and inventories unchanged during the period.
How to Achieve An ISO 13485:2016 Compliant Quality System
On Tuesday, August 29th, MDMA will present a (no cost) webinar, How to Achieve An ISO 13485:2016 Compliant Quality System, hosted by IQMS and E.M.M.A. International Consulting Groups.
Dr. Carmine Jabri, President and CEO of E.M.M.A. International Consulting Group, Inc., will present an overview of the upgrades to ISO 13485:2016. The webinar will also discuss how technology can be used to drive real-time quality, traceability, accurate product identification, and efficiency in support of FDA compliant, best-in-class operations.
6 Ways To Get Production Teams To Own And Take Pride In Quality
Team accomplishments mean more than individual cash incentives or prizes, and seeing how combined efforts make a difference for customers matters more than individual recognition. In the pursuit of quality, production teams want the opportunity to find purpose, gain autonomy and mastery in their daily work.
What Drives Manufacturing Growth?
The manufacturing sector has seen significant growth over the past few years. To better understand the factors that drive growth and the strategy to sustain it, IQMS partnered with TechValidate to survey successful manufacturers in order to provide insight into their key growth drivers. The survey identifies several key success factors, including strategy, leadership and execution.
Download your copy of the survey results for a better understanding of what is driving success for best-in-class manufacturers. Download Now!