The Industry 4.0 - Fabrication and Assembly Company whitepaper is an insightful examination of technology trends impacting fabrication and assembly companies. Here's an excerpt:
Gaining a Competitive Edge Through Digital Innovation
After the economic challenges of the past decade, the fabrication and assembly industry is experiencing renewed growth, bolstered by technical innovations, expanding market opportunities and growing product demand.
Overall, the global metal fabrication market was valued at over $16 billion USD in 2015, and it is expected to reach over $24 billion USD by 20241. Many of the leading metal fabrication companies in the U.S. are reporting substantial growth rates approaching double digits.
At the same time, digital innovations are transforming manufacturing and assembly operations, opening the doors for small operators as well as big players to improve processes, increase efficiency and drive profits. With automated controls becoming more affordable, faster and more consistent, these tools are able to take on more complex and varied tasks than they could even just a few years ago.
A smart first step toward the factory of the future is moving to a modern ERP platform—one that is ready to adapt and can meet the demands of the journey.
Components of a Robust ERP Platform
In the age of Industry 4.0, technology simply can’t be an afterthought—it must be a central component of the company’s business strategy. Industry-leading fabricators and assemblers are increasingly focusing on innovative technologies and the comprehensive functionalities available in a modern, adaptable ERP platform.
But in the world of ERP solutions, not all software is created equal. Some applications have more exacting demands that require specialized features and functionality. A cookie-cutter approach to software will only lead to costly customization or workarounds. In selecting the right system for your fabrication and assembly needs, there are several key factors to consider:
Distributed intelligence throughout the plant floor suggests that the Industry 4.0 world operates in an essentially a decentralized management mode. To accommodate, the ERP also must . . . .