New, technology-enabled manufacturing processes, often referred to as digital manufacturing, are not only producing prototype parts faster but also quick-turn, low-volume production parts.
Bain's research shows U.S. executives also appear to have a greater focus on applying the technology to cost control, rather than making their products better.
It is not just the auto industry that finds itself in the cross hairs when it comes to job creation and destruction.
American manufacturing is on the rebound, but experts say manufacturers, policymakers and the educational system will need to work together to cultivate a workforce to support the growth.
The mass commercialization of self-driving cars and virtual offices may still seem like futuristic concepts to many business leaders. But automation technology is advancing fast, offering CEOs across various industries scope to enjoy sizable near-term boosts in productivity, according to a new survey.
Manufacturers are facing more challenges that are forcing them to reduce costs, reexamine their business models, integrate new technologies and build new capabilities.
D'Addario, a manufacturer of guitar and orchestral strings, as well as other musical instrument parts, has a lineage that goes all the way back to 1680 Italy. But the company's got both feet facing forward when it comes to keeping up with digital technology.
Companies are finding creative ways to invest in the right talent to ensure their organizations are adequately prepared for the automation of the future.
CEOs are racing to adopt new technology and develop the talent they need to lead a Manufacturing Renaissance.
While RFID technology has been in place for upwards of two decades, it has come a long way in the last year. Originally an inventory management tool that also helped reduce merchandise theft, it is currently helping retailers improve customer satisfaction and improve merchandise management and planning.
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