Monthly Archives : January 2019

Industrial man clicks a button trends with gear surrounded by specific icons. Modern Industry 4.0 Tendency Development. Manufacturing Trending.

Manufacturing Trends for 2019

Denver Manufacturing has seen a number of different technological upgrades for the past few years, and the industry has no other choice but to upgrade with the times. This year, there are some manufacturing trends that the industry should pay attention to.

Blockchain Technology

Not a lot of people had heard of blockchain outside of the cryptocurrency sphere until recently, and now blockchain is changing the manufacturing world. Blockchain technology helps distribute information to thousands of different computers in order to reduce the threat of hacking one central point of entry. Blockchain will have an effect on financial operations by adding additional security and boosting speed, and it will be a cost effective solution for transactions. Blockchain technology will also play a role in areas of transaction reporting, tracking, and management. Fully secure product tracking can also benefit from blockchain technology.

More Diversity

Last year many different industries experienced conversations about diversity, and the manufacturing industry is no expectation. An organization is likely to perform better if the workforce is more diverse. Businesses that are forward thinking should be implementing more rigorous and impactful programs to help accelerate the diversification of the workplace.

IoT Expansion

2018 was already a big year for IoT expansion and 2019 is expected to be the same. The Internet of Things (IoT) is a network that connects many devices, from cars to home appliances. The idea behind this technology is to automate information and data transfers between different programs and devices without having to use human-to-human interaction, or even human-to-computer interaction. With the boost of 5G connectivity and other advances in sensor technology, the industry is expected to see a lot more IoT devices than ever before, which will drive an industrial revolution. The manufacturing industry benefits from IoT because it can help you with the ability to automatically track and log. Transferring data this way saves money and time and you don’t have to manually track all that information. While this may not be such a big deal for small businesses, as IoT becomes more widely used it means companies that are using older technology may need to adjust. If companies cannot adapt, business partners will switch to partners that move faster and have a better eye for innovation. Another benefit of IoT for the manufacturing industry is better responsiveness and efficiency. A machine could respond to problems faster and provides instant and timely solutions. This allows for bad products to not be produced in the first place.

5G Rollout

The groundwork has been laid for 5G for a bit now, and in 2019 the rollout should really pick up. 5G will help improve download speeds, reduce latency issues, and enhance the ability to control a variety of devices remotely. 5G rollout also helps improve IoT and will be a game changer that gives real time control and insight to companies, in order to make more impactful decisions.

Augmented Reality

Many people have seen augmented reality but may not have realized this is what it was. It’s the act of imposing digitally created images into real life objects within a device, such as a camera, computer, tablet, or cell phone. This may seem like it is not going to help manufacturers, but it does. Even though robots do their own work, they can’t yet fix themselves. By using software in a phone or tablet, workers can use video footage in real time and let the software fix the problem. This works if the software is on the outside of the machine. Another way augmented reality can be used in the industry is with training. Many people know that manufacturing jobs can be dangerous. If a worker isn’t sure of what they are doing, he or she can injure themselves and others. With training sessions using augmented reality, employees can get the knowledge they need to know without even stepping foot on the floor of the factory and risk hurting themselves. All they have to do is use a headset, look on a screen and enter a manufacturing simulator. Some other applications for augmented reality that aren’t as known are for inventory management. Programs can show workers where materials and parts are in the warehouse, as well as assist with product development. Augmented reality can allow you to create something before it even hits the line.

Customer Support with Many Channels

Manufacturing offers a lot of sales work and customer service, and it’s important that this part of the industry doesn’t get ignored. Omni channels means more channels and finding multiple ways to complete the same tasks. By using Omni channels, you can allow business partners and vendors to buy their own materials and parts and you don’t need to spend a lot of time with emails, calls, and other back and forth communication.

Robotics

2019 will see a greater use of robots. Robots are going to be more sophisticated and machines are going to be smarter, smaller, and more integrated with human tasks. There is a lot of concern about robots taking over jobs. According to one review, robots are expected to create some new jobs over the next few years due to artificial intelligence and automation. However, jobs could also be lost. As the industry continues to move toward robotics, the process is moving toward people working near the machines or even with the machine. Robots can be utilized in a number of different ways, such as discovering sources of raw material and inspecting equipment for safety, that make them valuable to have in the industry. Tag Team Manufacturing in Colorado invested in a Sawyer Robot to help with the long production work of small parts. Sawyer can run 24-7 with lights out capabilities and can be trained to do various tasks that are needed in the machine shop.

Analytics Software

With improvements in big data, analytics help businesses go from being reactive to proactive. Businesses can now get ahead and employ predictive analytics, in order to anticipate what is coming. By using predictive analytics, businesses can use a holistic approach to optimizing production assets across the entire lifecycle to improve operations. A machine shop shouldn’t just simply collect and store data, and manufacturers need to be able to identify the results they want to achieve and use the data to actually help them with their goals. An example can be an original equipment manufacturer wanting to improve the facility by reducing the amount of materials that are wasted during production. In order to do this, manufacturers need to collect production data and compare it with data from enterprise resource planning. Without a strategy, businesses will just collect data and keep it, and then not receive any benefit from their investment in analytics software.

3D Printing

3D printing is not anything new and has been around for a while, but it will continue to help manufacturing in the new year. 3D printing can help make manufacturing stronger, faster, better, and cheaper, and also help the industry benefit overall.

entrepreneur

What do all successful entrepreneurs have in common?

What Do Successful Entrepreneurs Have in Common?

Most entrepreneurs are like a Lady GaGa song: they’re just Born This Way. Yet even the most attuned business owners have challenges that can potentially hinder them from reaching their potential and creating a successful company.

All business leaders have something to learn. Below, we look at some of these lessons that have refined some of the world’s greatest entrepreneurs. These are common threads that bind them and set them apart from the pack.

1. They Cast a Vision for the Purpose and Direction of Their Company
Entrepreneurs always know why their company exists and where it is headed. They have a deep understanding of these two concepts either because they know them instinctively or they have learned them through both their successes and failures. They can communicate both the purpose and the direction of their company in a clear, succinct manner to their board, company executives, and the entire team on all levels. They inspire both the entry-level workers and the CEOs by casting a vision that is both practical and powerful.

What does it mean to cast a vision? In a nutshell, the entrepreneur communicates what the company is about, the culture that the leadership will create and the team will cultivate, and what the end game is. The vision is a roadmap that consists of dreams, goals, benchmarks, and assessments for performance. The vision gives everyone a clear understanding of their role in the organization and how their personal objectives align with the company’s aspirations.

2. They Seek Out Opportunities for Business Growth and Success
Entrepreneurs don’t just allow things to happen. Rather, they make them happen. Business leaders plan, scheme, organize, discuss, research, and innovate. Their intentional leadership sets the pace for the entire company. They are always moving forward and never satisfied with the status quo.

Successful leaders ask:

What are the gaps in our company’s performance?

What tools can we utilize to improve our processes?

What new products or services can we create or sell?

Who do we need to hire to lead this segment of our company?

How can we improve employee satisfaction and performance?

How can we best serve or connect with our customers?

How can we boost our reputation or image in the industry?

What is the competition doing that we need to be doing?

3. They Recognize and Address Failure Head-On
Even the best entrepreneurs are not immune to mistakes and failures — neither are the people in their company. Successful entrepreneurs embrace failures as much as they do successes because they recognize both as teaching tools that strengthen the company.

Some of the greatest failures can lead to some of the best ideas and solutions if everyone in the room is willing to accept responsibility for the failure — starting with the company’s owner, the entrepreneur.

The question every successful entrepreneur asks is: What did we learn from this mistake?

A careful and honest analysis of the defeat opens up a world of possibilities for doing it better the next time. It does not matter if…

The company went bankrupt.

The product did not sell.

The current system is not working.

The employee had to be fired.

The business fell prey to a PR disaster.

What matters is what comes next. What is the entrepreneur’s reaction? What is the very next step that he or she will take?

4. They Recognize Great Talent and Know How to Utilize It
Some companies only hire within. Other companies only seek fresh new employees to bring new life into the organization. Both are great strategies. However, an entrepreneur’s guiding principle is neither. Rather, he or she is on a relentless pursuit to discover and utilize the best talent on the planet regardless of where that individual resides.

Question: Are you making the best use of the talent within your organization? Are you seeking the best talent in your city, region, or nationwide? OR are you settling for mediocrity just to fill a position?

Successful entrepreneurs continuously assess talent and redistribute abilities as needed. It does not matter that a person was hired to perform a function. If the entrepreneur discovers abilities in this person that would be best suited somewhere else in the company, then it’s a win for everyone to assign the team member if that person is willing to take on a new role.

Entrepreneurs hire HR managers who are resourceful recruiters and know how to attract ridiculously talented individuals to work for their company. They are willing to pay a little more, add a few perks, and provide a favorable working environment to retain employees that demonstrate exceptional abilities.

5. They Embody a High Level of Discipline and Maturity
Entrepreneurs are willing to do things that no one else will do so that they can receive the benefits that no one else will get. They immediately recognize what is important and what is a distraction and respond to both accordingly.

Entrepreneurs get up early, stay up late, go the extra mile, and demonstrate exemplary behavior. When everyone else is whining and complaining about the industry, their income, their circumstances, or how unfair life is, and people are, successful entrepreneurs take full responsibility for everything around them, take control of their circumstances, and make life happen.

Question: What areas of your life do you lack discipline? How is this lack of discipline affecting your personal life, and, in turn, affecting your company?

Entrepreneurs don’t look at the positive or negative side of things. Instead, they merely see cause and effect. They don’t rely on belief. Rather, they rely on action. They are rarely governed by their emotion. Adversely, they rely on their knowledge, intellect, and common sense. How they feel on any given day is likely to pass. What they do in spite of how they feel, however, is likely to have lasting consequences.

They can cut through the crap to see what needs to be done and not hesitate to do it.

6. They Create Healthy Relationship with Others
Let’s be honest. Nobody wants to work with a jerk. Nobody wants to be around someone who is highly critical, manipulative, controlling or fails to see the good in others. Even worse is trying to work with someone who lies, cheats, and steals to get what they want.

A successful entrepreneur has a sincere and authentic desire to develop healthy personal and working relationships and will do what it takes to see those relationships flourish. What does this mean from a practical standpoint?

Entrepreneurs…

Are always honest, yet know how to communicate their honesty.

Do not think twice about apologizing when they’ve made a mistake.

Reward and praise others for doing a good job.

Use motivation — not manipulation — as a tool to stimulate action.

Learn to laugh…a lot!

Find solutions for conflict — not play the blame game.

7. They Know How to Have Fun
Believe it or not, successful entrepreneurs are successful because they DON’T WORK ALL THE TIME. They understand the balance between work, family, and personal fun, and they respect that balance. Within the organization, entrepreneurs know when and how to give their workers time off. They throw company parties, outlandish contests, and — when it’s appropriate — spend time with their team outside of work.

Entrepreneurs go home and spend time with their family and friends. They veg in front of the TV and watch the game or spend a Saturday on the green. They have a hobby that takes their minds off the cares of the world. They cherish time spent with others, and they don’t apologize for that occasional moment when they do nothing at all.

In short, entrepreneurs understand what it means to be an entrepreneur. They study from other successful business owners, read books about entrepreneurship, attend leadership seminars, and find out all they can about their lot in life. They learn the most important concept of all: how to lead an organization without self-destructing.