In 2016, manufacturing spending reached its highest level in over a decade, with the growth index hitting 53.5 percent in December. The manufacturing industry contributes at least $2.09 trillion to the U.S. economy. 
2016 left the industry feeling very optimistic and 2017 looks favorable as well. Let’s look at what trends will influence growth in the manufacturing industry.
4 trends to look out for in 2017
Automating manual processes
Using manual processes to manage everyday tasks slows down the workflow. Many manufacturing companies are still using the outdated systems they installed decades ago. In 2017, you’ll notice companies in the industry switching to automated systems. Automated systems allow for agile and efficient operations, enable better business decisions, improve quality control, create cost-savings and deliver a consistent product.
Preparing for the factory of the future
The manufacturing industry is continuing to evolve. A recent RSM Manufacturing Monitor Survey showed that more than 60 percent of US manufacturers are expected to increase their budgets in 2017 and to invest in new state-of-the-art mobile and supply chain technologies as well as CRM systems.
What else can you start doing to today to prepare for the future? Begin working with your IT department to develop a strategic plan. This will help you assess how much budget you should set aside for the next decade and help your organization plan for an expanded workforce.
Predictive analysis for a competitive advantage
Many industry professionals are adding business managements systems to their operations to gain competitor and customer insights. Manufacturers are increasingly using predictive analytics from a BMS system to grasp how they can prepare for the future. With enhanced access to new data the construction industry will be able to easily spot changes in inventory and make more informed decisions when planning for future projects.
Mobile technology is becoming more integrated in the everyday business operations. In 2017, you can expect to see more manufacturing teams moving toward a mobile-friendly solution. As the industry continues to evolve it’s very important for manufacturing professionals to adapt to change and go mobile. Businesses that have already implemented mobile technology noticed improved communication, collaboration across teams, increased efficiency, avoided unforeseen errors, simple integration with accounting platforms and faster order and invoice processing.
2017 is going to be a year full of new growth opportunities for the manufacturing industry. These new tech trends will benefit your organization by ensuring that you are planning efficiently for new growth opportunities coming your way.
What trends is your business focusing on this year? Tell us in the comments below.
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