How Can a Smart Manufacturing Institute Help You Stay Ahead of the Curve
The smart manufacturing industry is expected to grow to USD 165.5 billion in 2026 with a CAGR of 20.6%. According to McKinsey&Co., smart manufacturing brings numerous benefits to industries, reducing machine downtime by 30% to 50%, increasing throughput by 10% to 30%, improving labour productivity by 15% to 30%, and improving forecast prediction by 85%. All these advantages of smart manufacturing are encouraging everyone to hop onto the digital bandwagon to stay ahead of their competitors. Digital transformations give ways to smart and collaborative manufacturing units that are capable of adapting to supplier and customer needs in real-time. With automation taking center stage, the need to train the manufacturing sector workforce in technology and new systems has become prevalent. Currently, manufacturers need to address the challenges of an under-skilled workforce, as they need a workforce having domain knowledge as well as technical knowledge about data, equipment, and automatio...