The manufacturing industry is sometimes referred to as the ‘backbone of society’. It contributes to economic growth and impacts almost every industry. With constant competition and innovation happening on a global scale, manufacturers need to monitor the latest industry trends to stay ahead.
Manufacturing industry growth in 2022
Over the last few years, manufacturers around the world have found themselves adapting and changing their operations in unexpected ways. Today, manufacturing industries in different countries find themselves facing different outlooks.
For example, Deloitte found that in the US, 86% of surveyed manufacturing executives reported they are somewhat or very positive on business, up from 63% in 2020.
Meanwhile, Make UK and PwC found that 78% of UK manufacturers foresaw at least a moderate increase in productivity in 2022.
Three top manufacturing industry trends for 2022
1. Supply chain priorities
If the pandemic has shown us anything in the manufacturing world, it’s that resilient supply chains are vital for success. As KPMG explains, “if manufacturers take timely actions to ensure a healthy supply chain”, they may be able to withstand future economic disruptions and perform better than their competitors, too.
But which aspects of the supply chain will be prioritized?
A recent survey shows that cost control, demand forecasting, and transparency are the most important areas for many manufacturers at the moment.
2. Technology and industry 4.0
Industry 4.0, the newest phase of the industrial revolution, is all about the digital world, especially IoT. From wireless interconnectivity to analytics and beyond, Industry 4.0 has big implications for the manufacturing industry in the future.
For example, 86% of manufacturers believe smart factories will be the “main driver of competitiveness within 5 years”, despite only 5% of them having full smart-status factories. However, 30% have smart factory initiatives underway.
Used the right way, these smart factories could help lower lead times, optimize workflows, create forecasts, and inform (or even make) decisions about production based on supply and demand.
3. Cyber security
Sophisticated cyber-attacks are a threat in any industry. With the accelerated adoption of digital technologies in recent years, cyber security is making its way to the top of many priority lists. However, many businesses find themselves already playing catch up.
When it comes to the manufacturing industry, one reason for this may lie in the mixing of information technology (IT) and operational technology (OT). IT and OT are often out of sync, which causes problems.
A focus on cyber security is an important trend for the near future, with 82% of manufacturing executives expecting their organizations to invest more in the area in 2022.
The importance of manufacturing translation
Clear communication is essential in the manufacturing industry. Language barriers can cost time, create misunderstandings which lead to expensive errors, affect marketing, and impact safety.
Whether you’re working with foreign supply chains, expanding into new markets, or working with international employees, speaking the right language is key. It might be tempting to rely on employees and ad-hoc help for this. But manufacturing translations aren’t simple.
Technical vocabulary, industry-specific terms, and complex sentences need to be handled with care to ensure everyone understands and is on the same page. It’s important to work with translators who:
– understand your industry
– speak the relevant languages (and dialects)
– have an in-depth knowledge of translation techniques
– have the availability to work within your timelines
What we do
At Future Group, we specialize in high-quality language services. We have expertise in manufacturing translation and work with knowledgeable, native-speaking translators.
As an ISO 17100-certified company, we provide a translation service that meets both the client’s needs and other specifications, including industry codes, best practice guides, or legislation.