Digital twin technology represents a quicker and more cost-effective route to market for new products. It is one of the fastest growing segments in engineering, with analysts McKinsey & Co forecasting that the global market for digital twin tech will grow by about 60 percent annually, reaching USD 73.5 billion by 2027.
Critical Issues: Manufacturing/Supply Chain
Critical issues are thought provoking articles relating to strategy, legislation, technology, best practice and some of the most challenging business topics in the world of manufacturing and supply chain information technology. The articles in this section have been contributed by leading vendors, industry leaders, research analysts, trade associations and consultancies and cover a variety of topics relating to the manufacturing, warehousing, logistics, transportation and distribution marketplace across Europe. They look at market trends, improvements in technology and some thought provoking comment on all aspects of optimising and improving efficiencies throughout the supply chain from raw material to finished product.
Other important topics covered in this section concern Health and Safety in Logistics with articles from the Health & Safety Executive (HSE).Taxation, government policy, climate change, recruitment and training schemes are all covered, as well as educational opportunities at various UK logistics educational facilities such at Cranfield University.
UK manufacturers slow to upskill workforces with the use of AI
Dec 19, 2023
Artificial intelligence (AI) is unlikely to be the next big trend in the retail and e-commerce sector after new analysis found it ranks bottom in the proportion of job vacancies requiring AI skills.
90% of companies see nearshoring as key way of safeguarding supply chains
Dec 18, 2023
The results of the INVERTO Nearshoring Study reveal a resounding consensus among participants, over 90 percent of who see nearshoring and reshoring as key ways of safeguarding their supply chains.
Retail tech predictions
Dec 18, 2023
By James Hughes, Retail CTO of EMEA region, Verizon Business.
The future of retail tech in 2024 is expected to be a monumental year for gamification and AI advancements following great breakthrough in 2023.
Sleigh it ain’t so! Shoppers ditch sustainability for bargains this festive season
Dec 14, 2023
Manhattan Associates Inc. has announced the findings of a new study on Britain’s sustainable shopping habits in the lead-up to Christmas. At a time when consumer spending is typically high, the fallout from the cost-of-living crisis has revealed that low costs are trumping both sustainability considerations and convenient deliveries and returns.
Artificial Intelligence (AI) and Cloud Transformation Dominate IT Investment Priorities for 2024 – Rackspace Technology Survey, in Association with VMware
Dec 14, 2023
New research by Rackspace Technology, the end-to-end, hybrid multicloud technology solutions company, in association with VMware, finds that despite ongoing economic uncertainty, businesses are committed to prioritising their IT investments in 2024, particularly in transformative technologies such as artificial intelligence (AI) and cloud transformation.
How control towers enable sight of the supply chain
Dec 14, 2023
By Marijke Voet, Commercial Manager. TMX UK.
With supply volatility and geopolitical unrest circling, supply chain visibility has become a major priority for today’s business leaders. Control towers are enabling savvy businesses to not only solve immediate problems but identify future disruptions they wouldn’t have otherwise seen coming.
Logistics named 10th best sector for wellness perks
Dec 13, 2023
The logistics industry has emerged as the UK’s tenth leading sector for employee wellbeing, according to a new study. The index comprises six criteria, including gym subscriptions or discounts, number of on-site gyms, number of benefits in wellness packages, cycle-to-work schemes, PT access for employees, and Glassdoor review score, at companies in each sector.
High performance computing for automotive – IDTechEx
Dec 12, 2023
By Dr James Jeffs, Senior Technology Analyst at IDTechEx, and Dr Yu-Han Chang, Senior Technology Analyst at IDTechEx.
Computers on wheels. That's how people currently see cars. Practically everything that happens in a vehicle is being monitored and actuated by a microcontroller, from opening windows to calculating the optimal fuel-air mixture for the current torque demand.
Can the logistics transportation industry thrive by connecting the physical and digital worlds?
Dec 12, 2023
Earlier this year, Trimble completed its acquisition of Transporeon, combining the two companies' North American and European expertise, and enabling the creation of a unified, global transportation management platform that transforms the way the world works.
Manufacturing Critical Issues
The manufacturing industry is facing a number of critical issues, including:
- Supply chain disruptions. The COVID-19 pandemic and geo-political tensions/war has caused widespread disruption to global supply chains, and this is having a significant impact on manufacturing. Manufacturers are struggling to get the raw materials and components they need to produce their products, and this is leading to shortages and delays.
- Labour shortage. The manufacturing industry is facing a labor shortage, as there are not enough skilled workers available to fill open positions. This is due to a number of factors, including the aging workforce, the decline of manufacturing in some countries, and the lack of educational opportunities in STEM fields.
- Rising costs. The cost of manufacturing is rising, due to factors such as the rising cost of raw materials, energy, and transportation. This is putting pressure on manufacturers' margins and making it difficult for them to compete.
- Technology adoption. The manufacturing industry is facing the challenge of adopting new technologies, such as automation and artificial intelligence. These technologies can help manufacturers to improve efficiency and productivity, but they can also be expensive and disruptive to implement.
- Environmental regulations. Manufacturers are facing increasing environmental regulations, which are forcing them to change their production processes. This can be costly and time-consuming, but it is essential for manufacturers to comply with these regulations in order to remain competitive.
Supply Chain Critical Issues
The global supply chain has been facing a number of critical issues in recent years, including
- Labour shortages: The COVID-19 pandemic has led to labor shortages in many industries, including manufacturing, transportation, and warehousing. This has made it difficult to find and retain workers, which has led to delays and disruptions in the supply chain.
- Equipment shortages: The global supply chain is also facing shortages of equipment, such as containers, trucks, and ships. This is due to a number of factors, including the pandemic, the war in Ukraine, and increased demand for goods.
- Port congestion: Port congestion has been a major issue in recent years, as ships have been waiting for days or even weeks to unload their cargo. This is due to a number of factors, including increased demand, labor shortages, and weather events.
- Demand volatility: Demand for goods has been volatile in recent years, as consumers have shifted their spending habits due to the pandemic. This has made it difficult for businesses to forecast demand and manage their supply chains accordingly.
- Natural disasters: Natural disasters, such as hurricanes, floods, and earthquakes, can also disrupt the supply chain. These events can damage infrastructure, disrupt transportation, and destroy inventory.
