Strengthen Your Company and Your Industry by Closing Technology Gaps

The manufacturing industry has taken some serious financial hits over the past few years,  which has hurt many individual companies. However, there are ways you can strengthen not only your business, but your industry as a whole.

Technology is Key

A recent study conducted by the National Institute of Standards and Technology (NIST) found that the single most important step the American manufacturing industry can take to spur significant growth is to fix the currently unmet needs for measurement science and “proof of concept” demonstrations of emerging technologies. Investing in innovative technologies that save money, streamline production, and fine tune operations in every department not only aids individual companies but also could save the industry as a whole over $100 billion annually.

According to NIST economist Gary Anderson, building a strong technological infrastructure is the single most important thing anyone in the manufacturing industry can do. “Gaps in the technology infrastructure-including the lack of reliable measurement and test methods, scientifically based standards, and other formal knowledge and tools-limits advanced manufacturing’s further development and adoption”, Anderson stated.

The Data

In the final NIST report, data was collected through interviews and surveys in four areas of advanced manufacturing technology. For each of the four technologies studied, the report found that the potential annual cost savings and percentage reduction in production costs that come from filling technological gaps were significant.

Bridging those technology gaps could save the additive manufacturing industry $4.1 billion annually and reduce production costs by 18.3 percent. For advanced robotics and automation, the data showed savings of $40.1 billion and cost reduction of 5.3 percent. Roll-to-roll manufacturing could see savings of $400 million and cost reductions of 14.7 percent, while the numbers for smart manufacturing are $57.4 billion and 3.2 percent.

The study looked at benefits that can be directly attributed to closing tech gaps in each sector, which means the final impact measurements are actually conservative. Anderson went on to state “If we consider the larger-scale outcomes brought about by meeting these needs-such as new and improved products, increased production quality, long-term industry growth, and job creation-the impacts would be significantly higher. Our study emphasize that full economic impact will only be realized if all technical needs are met, and all stakeholders regardless of size, not just large manufacturers, can share in the rewards.

What You Can Do and How Inora Can Help

Finding and correcting the gaps in your own technological infrastructure will serve to benefit not only your individual company, but your entire industry. Seek out technologies that will connect your entire production floor, provide you with reliable and accurate measurement and testing, and invest in software and machinery that is scientifically based.

Inora can assist you in measurement and testing, which will help streamline your entire organization. Our patented Math Engine based software can provide you with reliable and reproducible machine check verification that keep your expensive machinery running smoothly and accurately, cutting down on production errors and the time needed to shut down machinery for regular maintenance checks. Invest in the future of your company and your industry by calling us today.

About Inora

Our innovative systems use our patented Math Engine technology to keep your expensive automated machines running smoothly and efficiently by utilizing automated machine check technology.