December, 20208 IN MYV EWUndoubtedly, everybody has heard one--if not all--of the current manufacturing buzzwords of 2019. The trend toward smart factories is not only happening in North America but has spread across Europe and into Asia as well. Earlier this month, I presented at a smart factory consortium in Busan, South Korea, where the government began an initiative and pledged to invest $1.7 billion to create 30,000 smart factories in Korea by 2022. Similar initiatives have already been underway for last few years in neighboring Asian countries, including the manufacturing powerhouses of China and Japan.Manufacturers, technologies, and innovators alike are teaming together for the rapid acceleration of taking these industrial fads and making them a reality. But what do these words really mean?At its core, the foundation of the next industrial revolution boils down to these two elements.1) Improving manufacturing flexibility and efficiency.2) Providing more services and functionality to the end user.Improving Manufacturing AgilityManufacturers around the globe are constantly looking for ways to improve efficiency. By incorporating lean manufacturing principals, such as just-in-time manufacturing, they can save dramatically on BY JAY BEVERSDORF, HEAD OF APPLICATION ENGINEERING AND CHANNEL DEVELOPMENT, STRATASYS (NASDAQ: SSYS)SMART FACTORY, INTERNET OF THINGS (IOT), LEAN MANUFACTURING, AND INDUSTRY 4.0warehousing costs and adapt to product changes at the drop of a hat. It is becoming increasingly clear that a connected and truly digital manufacturing workflow is the key to enabling a more lean manufacturing process.Providing More for the CustomerIn this century, customers are demanding more from their products and services. They are demanding truly tailored products and solutions to their unique requirements. Gone are the days of the mass manufacturing line pumping out millions of the exact same products. Consumers want their own custom colors, designs, features, and more, and manufacturers need to begin adopting technologies that can handle this constantly changing environment.How does 3D Printing Play a RoleUndeniably, 3D printing does not solve all the manufacturing world's woes with a single, easy-to-use device. There are many different shapes and sizes of manufacturing equipment; each tailored to perform their unique tasks, links in the chain so to speak.
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