A decade after the economic downturn, the job market has finally started to rebound with jobs being added in nearly every sector. The unemployment rate in both the US and UK has been sitting at around 4% for the last few years, down from an average of 6.5% in 2014. While most companies are having success finding the candidates they need to fill their open positions, businesses in the manufacturing sector have been struggling to get applicants through the door.
The National Association of Manufacturers estimates that US companies will face
Industry 4.0 technologies are transforming the manufacturing industry. ‘Smart factories’ using automation, Internet of Things (IoT) technology and cloud computing are becoming the new norm. But what impact is Industry 4.0 having on the business side of manufacturing? What does ‘Business 4.0’ really look like?
Will new technology make sales, marketing, customer service, and other critical teams obsolete? The answer to this question is way more complicated than a simple yes or no.
Think Big Data is only used in business and marketing management? Think again.
The number of manufacturing companies using Big Data analysis is growing significantly, as the benefits of the approach are becoming much more apparent. Big Data analytics can be used to anticipate and calculate the outcome of various internal practices, allowing companies to tackle any production, management or distribution issues they have.
Discover three of the ways that manufacturing companies are using big data below.1