Despite 2023 being a challenging year for manufacturers, global manufacturing output is set to achieve a compound annual growth rate of three per cent between now and 2027, according to technology insight business Interact Analysis. Here, Helen Blomqvist, President of metal cutting tools and manufacturing solutions expert Sandvik Coromant, explores how manufacturers can embrace current industry trends to tackle challenges and remain resilient in 2024 and beyond.
From digitalisation and demand forecasting to economic uncertainty and emissions targets, 2023 presented several challenges for the manufacturing industry. However, these difficulties also provide opportunities for manufacturers to innovate and increase their competitiveness as the industry transforms.
STRENGTHENED SUSTAINABILITY FOCUS
The focus on reducing environmental impact intensified in 2023, with IBM’s Institute for Business Value data showing that 86 per cent of companies now have a sustainability strategy in place. While this figure is promising, data shows that only around a third of businesses have acted on their strategy since its implementation.
2024 will hopefully see the rise of businesses treating sustainability as a priority. This is especially important within the manufacturing industry, which is responsible for one-fifth of global carbon emissions, according to World Economic Forum data. Currently, the sector is not sustainable enough, and we can do a lot more.
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Denne historien er fra June 2024-utgaven av The Machinist.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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SIMPLE AND SECURE NETWORKING: UMATI CONNECTS THE MACHINE PARK AT UNITED GRINDING
The UNITED GRINDING Group serves a diverse customer base, ranging from small businesses to large corporations, across industries including automotive, aerospace, tool and die, and precision mechanics.
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ADI'S VISION FOR BMS GOES BEYOND MANAGING BATTERY CHARGE
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WE AIM TO DOUBLE OUR REVENUE TO RS 6,500 CRORE BY 2025
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TRITON WILL BE RS 500 CR COMPANY IN THE NEXT 3-5 YEARS
In an interaction Jitendra Srivastava, CEO, Triton Logistics Maritime Private Limited spoke about the company’s plans, collaboration and technology adoption in the logistics sector. Edited excerpts...
LEADING THE TRANSITION TO A GREENER, MORE EFFICIENT FUTURE
In an interview with Saishree Mohanty, Anirudh Bhuwalka, CEO of Blue Energy Motors, discusses the company’s efforts to revolutionise India’s trucking industry with LNG-powered vehicles, sustainability initiatives, and future growth plans.
UNVEILING THE PATH TO AI-DRIVEN MANUFACTURING EXCELLENCE IN INDIA
As the industry delves into AI and cloud computing, the article explores the many challenges and opportunities that will influence the future of Indian manufacturing.
DIGITALISATION AND THE POWER OF SAAS FOR SMALL AND MEDIUM ENTERPRISES
As small and medium enterprises SMEs) face increasing pressure to innovate and accelerate time-to-market, adopting digital transformation is crucial. Leveraging Software as a Service SaaS) offers SMEs an affordable, scalable solution to streamline operations, boost productivity, and remain competitive in today’s fast-paced market.
