State of Manufacturing 2023, Digital Thread and On-Demand Manufacturing Platforms

We are fast approaching the end of the year. And this is the time for conclusions and predictions. Let’s talk about lessons from 2022 and explore opportunities moving into 2023. Manufacturing is on the cusp of a digital revolution. Every prediction for the future of manufacturing predicts that technologies like automation, advanced analytics, and connected devices are transforming production lines into more intelligent models than ever before. Looking back in the Forbes article 2022 State Of Manufacturing: Digital Is The Foundation For Future Growth, shows the data from the 2022 State of Manufacturing Report where we can learn about the tremendous importance of digital technologies and their roles in the transformation of manufacturing processes.

2022 and Digital Foundation

Supply chain visibility and analytics were at the top of customers’ demand as we went through the complexity of the post-Covid world, global supply chain shortages, and disruption. Combined with customer satisfaction these things were on the top of the manufacturing companies’ demand list.

Here is my favorite passage:

So, it comes as no surprise that increasing supply chain transparency and agility is of utmost importance to leaders across industries. And the data backs this up. The most highly prioritized digital manufacturing technologies are supply chain analytics and visualization platforms (94%), and on-demand manufacturing platforms (92%). 93% of companies are looking to tech solutions to increase operational efficiency for new product development (NPD). 75% of leaders

At OpenBOM we strongly believe in the improvement in the way engineering and supply chain and contractors teams can collaborate. OpenBOM ‘s multi-tenant data platform with unmatched real-time collaboration capabilities is the foundation of OpenBOM solution.

However, my top favorite is a comment about on-demand manufacturing platforms. Here is the passage:

The data shows that manufacturing leaders are looking to simplify their supply chains and securely integrate them into the way their companies work. And even amidst supply chain disruptions and increasing customer expectations, the companies that win going forward must be able to build quality, sustainable products at speed. On-demand manufacturing platforms were built specifically to address all of these challenges, folks.

Instead of an approved vendor list a mile long, you can tap into one pre-vetted network of suppliers that provides built-in resiliency against supply-chain disruptions. And you can do so confidently when that network is actively managed to ensure your quality and security standards are met. Plus, the production process is made fully transparent thanks to an advanced online platform.

2023 is coming – what to expect?

Jumping into the Top 3 Predictions For The Manufacturing Industry In 2023 we can see some very interesting trends. Here are three predictions: 1/ agile supply chain; 2/ outsourcing and 3/ digital manufacturing tipping point. The last one is something I want to pay attention to deeply. 

Here is the passage:

My third prediction is that 2023 will be a digital manufacturing tipping point. The pandemic was a serious wake-up call to manufacturing companies that adopting digital manufacturing tools was no longer optional. Now, headed into a likely recession, it’s mission-critical. Companies are searching for ways to increase efficiency and productivity, and technology can provide what they’re looking for.

Strategic implementation of technologies supporting digital manufacturing continues to evolve, and implementing them will be a differentiating factor for companies in 2023. A digital manufacturing partner can help your company leverage the power of digital tools, streamline workflows, and make your team faster and more productive.

I found the digital foundation and digital technology extremely important for product lifecycle management and the digital thread connecting multiple business processes across the companies.

This phenomenon has been coined “The Digital Thread,” and it’s already generating huge opportunities – from major cost reductions to improved efficiency – across all sectors of the industry. But with this era of transformation also comes new challenges, such as navigating shifting customer demand trends and understanding how to best leverage data within operations and workflows.

OpenBOM Digital Thread Platform

Let’s speak about what OpenBOM does to support these trends. I’d like to point out some of OpenBOM’s innovations, recent partnerships, and development that will put OpenBOM standing out in the long range of companies developing the future manufacturing industry.

Multi-tenant data platform with rich collaboration capabilities

The foundation of OpenBOM is a flexible and scalable data platform with the capability to adapt to different customer requirements, define any data, and build a connected single source of truth for the product that can be seamlessly shared with everyone who needs to get access. Check more about OpenBOM data management and network architecture to support advanced business processes and digital threads created using digital technologies:

Connection to online data sources

The second part of OpenBOM digital strategy is to connect to online data sources to provide seamless information about online commercial components and their data. You probably noticed the recent OpenBOM feature connecting to the online catalog of electronic components – Octopart. Check this for more – OpenBOM Octopart Sync and Bulk Update.

I hope you like it – more connectivity to different catalogs will be coming.

Enterprise Application Connectivity

The second aspect of the OpenBOM strategy to build a digital foundation for engineering and manufacturing companies is to build seamless connections and integrations with enterprise products. Check the article – Enabling Low-Code Enterprise Application Integration for Engineering & Manufacturing using OpenBOM and vdR Nexus Platform is the third foundational element of building a digital thread future.

Other connected services – Quality Management and Marketplaces

OpenBOM is actively partnering and supporting multiple platform integrations such as OpenBOM – Orcanos partnership. This integration between cloud-native ALM and QMS tool helps to make data connectivity stronger and demonstrates how OpenBOM can seamlessly unsintered for other products such as QMS.

The second platform integration we announced is about the connection between OpenBOM and the online marketplace for custom parts ManuFuture. The integration allows the connection of multiple online services together to perform specific tasks.

Conclusion:

The foundation of modern manufacturing transformation lies in the ability of platforms to interconnect and provide access to data, intelligence, and decision-making. OpenBOM is a platform that provides three important pieces of digital manufacturing development (1) data (2) connectivity; (3) collaboration. It covers multiple aspects of product design, planning, manufacturing processes, and support.

REGISTER FOR FREE to check how OpenBOM can help you today.

Best, Oleg