Are You Hesitating To Open A Smart Factory?
Manufacturers need to recognize the benefits offered by smart factories and start implementing their digital transformation now -Why are you still waiting?
Despite the clear benefits available through the adoption of smart factory trends and technologies, only about half of manufacturing companies have begun the process of digitally transforming their firms.
Are you holding out?
While it’s certainly wise to observe new trends in your industry to some extent before you follow suit, if you wait too long, you’ll get edged out by your competition, and miss out on the advantages. After all, 86% of manufacturers agree that smart factories will be the main driver of competition over the next four years.
That’s why you need to understand what digital transformation can do for your firm, so you can start planning your adoption right away.
Digital Transformation Will Let You Bring Your Work Back To Canada
Perhaps the most attractive benefit of digital transformation is the fact that it will allow Canadian manufacturers to start working in Canada again.
Outsourced and offshore manufacturing has long been a popular model in the industry because of the undeniably low cost of labour and parts. However, thanks to innovative new technologies like 3D printing, manufacturers can achieve up to 20x reduction in the parts required in a given product.
Custom medical devices created in-house with 3D Printing machines lead to decreased material waste and increased ability to do one-off custom projects.
For the past few years, 3D printing has dramatically disrupted the manufacturing industry worldwide, and now, Canadian manufacturers are putting those savings towards developing more factories here in Canada.
This offers additional benefits as well:
You’ll save money that would have otherwise been devoted to your international supply chain.
Your reputation will improve as you stimulate the local economy with more job opportunities.
“Microfactories”, already in use by Amazon, will allow you to open factories near urban centers.
Your firm’s environmental impact will be greatly reduced as you lower your dependence on global shipping.
Don’t Wait Too Long To Enjoy The Benefits Of Smart Factories
Despite these many benefits, only a small portion of Canadian manufacturers have fully embraced digital transformation. Just 5% have converted at least one factory to “smart” status, and 30% are currently implementing initiatives related to smart factories.
Are you part of the nearly two-thirds of manufacturers that have made no progress on digital transformation initiatives? If you keep holding out, you’ll miss out — it’s as simple as that.
Don’t make the mistake of assuming this is all just hype. According to Reports and Data, the global digital transformation market was already worth $261.94 billion in 2018. By 2026, it is estimated to be worth as much as $1051.12 billion.
Need help with your Digital Transformation?
The time is now to adopt digital transformation and begin the transition to Industry 4.0 & smart factories. Get in touch with one of our industrial IT experts today and learn how we can help you create an IT Roadmap to begin your Digital Transformation.
Call us or click to chat today: 1-888-974-2779