As technology continues to advance at a rapid pace, businesses across all manufacturing sectors are being forced to keep pace. It’s always important to know what’s coming next and that’s what this month’s blog is all about – the emerging technologies in precision manufacturing and how they may affect you and your business.

Let’s jump right in!

Predictive analytics

Analytics have always been important in the manufacturing sector, but they’ve become more the norm in a variety of professions – from aerospace to as unexpectedly as the more esoteric political and sporting worlds. Simply put – the importance of these technologies cannot be understated.

As these technologies evolve from merely ‘emerging’ to fully realized, manufacturers are finding themselves more dependent on data and analytics more than ever before – whether its product innovation, pricing, and a myriad of other strategies that help folks in our industry do more with less.

The Internet of Things

We’ve mentioned the Internet of Things many times, but as it related to manufacturing, it’s beginning to find itself more and more integrated in day to day practices. It can help improve supply chain management, increases machine to machine communications and helps to improve safety, control and diagnoses; resulting in innovations across the broader value chain.

CRM, ERP and CPQ are becoming meaningful

While these are widely considered more seasoned technologies, manufacturers are still finding that they have a lot left to offer their businesses and can complement and even enhance the overall capabilities of many solutions that businesses still consider vital components of their overall playbook.

Particularly in the case of CPQ, it can drive upgrades and manage millions of complex rules in one place, so sellers can deliver a variety of solutions not only along traditional means, but in digital spaces as they become more evolved and sophisticated.

In today’s world, technology moves faster than ever and businesses should consider each of these platforms as they can modernize your business, boost sales and expand your delivery channels. And at the end of the day – they help you achieve the goal you desire most – and that’s to stay competitive in a modern marketplace.