Another year has gone by and the manufacturing industry seems to be doing better than ever! As precision spring manufactures, we are excited to see where the latest trends and technology will go in 2019, both for our own best practices as well as those of our clients.
Before we settle into 2019, here are three quick predictions we are making for the new year.
#1: Automation Will Continue to Play a Large Role
Over the years, we have seen automation take the manufacturing industry by storm, and each and every year brings us new technology that is helping manufactures create products faster, more efficiently and with greater redundancy. New automated drives, CNC machines, robotic arms and other safety equipment will surely play a large role in the process in 2019 and the years to come. Advancements in safety relays and switches are already making the floors of manufacturing facilities safer places to be, and engineers are working on automating more processes with every new innovation. Best of all, automation has been proven to not kill jobs. Instead, manufacturing output is increasing, leading to more jobs and more opportunities. The latest jobs report shows an increase in manufacturing jobs over last year.
#2: Tariffs Will Continue to Affect the Industry
Although the industry is booming, many people remain concerned over possible tariffs that could affect trade with China. We won’t get into the politics of the negotiations, but this is definitely an issue that has been making waves in the industry. Many manufacturers and businesses had rushed to place overseas orders in Q4 in order to beat the tariffs, which will likely lead to a decrease in orders for Q1 of 2019. What will happen beyond Q1 is anyone’s guess, but we are certain tariffs will play a big role in the pricing and availability of products.
#3: Analytics and Business Intelligence (BI) Will Change the Way We Think
The term “big data” is thrown around a lot, but it doesn’t really encapsulate what will be accomplished with that data in 2019. Everyone knows that more data is being collected by businesses, but how will they use it? The answer lies in analytics and BI. Manufactures will gain more control over their data this year than any year in the past; they will use it to identify and meet key performance indicators in their production processes. They will also use it to become more efficient, decide what technology they need to add to their manufacturing process, decrease lead times, and so much more.
Whatever you do in 2019, work with the right manufacturing partner. Contact The Yost Superior Co. for all your custom spring manufacturing needs.