2021 Manufacturing Forecast Review

While 2020 may have been a challenging time for most manufacturers and product teams, the industry responded effectively, and most companies are poised to deal with any future challenges.

Companies naturally felt the pinch created by the COVID 19 pandemic. At the same time, the slow-down created a window of opportunity where you could review your current operations and find new ways to improve your efficiencies. With 2021 in full swing, it’s now time to capitalize on these enhancements. With that in mind, here is the latest 2021 manufacturing forecast and review from Forbes.

Building Resilience and Sustainability into Your Manufacturing Process

Forward-looking companies used 2020’s disruptions to build new resilience into their processes, adapt their operations, and develop new methods to ensure sustainability. Those who were able to adapt quickly saw increased revenues, as demand for sophisticated manufacturing and agile production techniques increased. Thermal Press International remains one of the early adopters for new technologies, manufacturing procedures, and we embrace disruption as a force for innovation.

Here are some of the trends that will shape the manufacturing landscape in 2021.

Localization and Near-Shore Manufacturing

Deloitte noted that one of the biggest shifts in the industry was moving towards localized or nearshore manufacturing. With ports, harbors, and other terminals closing to prevent the spread of the coronavirus, companies who need contract manufacturing or access to advanced machines had to find new strategies.

Many organizations are now considering work from home as part of their standard operating models, and the same applies to nearshoring your manufacturing requirements. Technology remains a key enabler allowing manufacturers to increase their capabilities and capacities, letting them compete with any offshore company.

Nearshore or localized manufacturing is reviving the industry, giving companies the ability to overcome resource and supply chain shortages.

Adopting Digitization for Manufacturing Processes

Technology investment into digitization solutions helped many manufacturers to overcome immediate challenges and improve their processes for greater efficiency. One area that’s received additional focus is the concept of digital twins. Manufacturers can simulate the entire production lifecycle, supporting companies without depending on human interaction or facility inspections.

Rapid Adoption of IoT Systems and Solutions

Employee safety and contact tracing solutions meant companies needed to accelerate their IoT adoption. Because of the adaptability of the technologies that make up the IoT, many manufacturers who already dabbled with these devices rose rapidly to the top of the pile. IoT can assist almost any type of business with improving its processes. For manufacturers, it helps to keep staff safe while maintaining production runs. Customers also benefit by tracking all employees using sophisticated sensors and access control solutions.

Partnering with Thermal Press for Your Manufacturing Needs

Thermal Press can assist any organization that needs a quality platform to improve its manufacturing capabilities. Our heat staking, thermal press, and plastic sealing solutions come with a variety of features, automation capabilities, and technologies to help improve your processes.

Tags: 2021, adopting digitization for manufacturing, heat staking, localized manufacturing, manufacturers and product teams, manufacturing resilience, nearshore manufacturing, nearshoring, plastic sealing solutions, thermal press