How Will The Next Five Years Affect Process Manufacturing: Speculation Demystified
As the process manufacturing industry is growing at this leaping pace, there are multiple speculations about the industry. Today we will discuss the most important of these.
- Scaled customization
Instead of generic products, companies will have the option of producing exactly what the customers want, when they want and in the quantity that the want. To attain accuracy, enterprise resource planning solutions will be helpful. A micro-economic shift might also bring in the much coveted digital flexibility.
- Customer-driven designs
Leveraging the cloud based interface, the manufacturers will try to get more familiarized with the desire of their customers as the customers start preferring digitized interfaces more and more. This will make super-customization a real possibility.
- S/4 HANA is the future
Financial management and accounting will see a revolution being brought in by this highly scalable in-memory platform. In addition to real-time analytics and applications, SAP S/4 HANA will perform the full task range including financial tasks, including planning, analysis, accounting, compliance and risk management.
- Predictive & prescriptive analytics
Manufacturers will make higher investments in data mining and warehousing to getting better insights into trends, to make better business decisions in material sourcing, logistics and people analytics etc.
- 3D- visualization of product application
With the help of latest technological developments like artificial intelligence, internet of things, natural language translation etc, 3D product visualization will become a reality. This will enable customers to view the customized end product even before they have actually purchased it or even before it has been manufactured altogether.