May 16, 2020

Digital transformation brings speed and accuracy to car manufacturers

infinityQS
Automotive industry
cars
Digital Transformation
Nell Walker
2 min
Digital transformation brings speed and accuracy to car manufacturers
Manufacturing quality and process optimisation software company, InfinityQS, has stated that the automotive manufacturing industry must embrace smaller...

Manufacturing quality and process optimisation software company, InfinityQS, has stated that the automotive manufacturing industry must embrace smaller technology developments in order to make the biggest savings. 

Digital transformation can help prevent costly recalls by ensuring there is a connection between all parts of the auto manufacturing plant. Automotive manufacturers spend nearly $108 billion annually on R&D, but only a small proportion of spending is used within the manufacturing environment for software that helps improve build processes.

Martyn Gill, General Manager at InfinityQS Europe, said: “Many vehicle manufacturers are still using paper based ‘travel documents’ – check lists for car builders – which given the available technologies today is slightly absurd. With paper based documentation, there is no connection point, no chance to review the entire supply chain in a single readable format. By introducing software that enables users to do exactly this within the manufacturing plant, the complete chain can be connected together and is available for any user to easily review parts and material information, inspection data, build times and more.”

By digitally transforming the manufacturing floor, users can be equipped with ruggedised tablets, smartphones or laptops to easily access information and data throughout the plant. This allows for almost instantaneous updates to be made so the complete process can be recorded in real-time, providing greater oversight around critical issues before they escalate.

 

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Jun 8, 2021

IMF: Variants Can Still Hurt Manufacturing Recovery

IMF
Manufacturing
COVID19
Musk
Elise Leise
3 min
The International Monetary Fund (IMF) claims that while markets are rising and manufacturing is coming back, it’ll push for global immunisation

After a year of on-and-off manufacturing in the US, UK, and the eurozone, demand for goods surged early last week. Factories set growth records in April and May, suppliers started to recover, and US crude hit its highest price point since pre-COVID. As vaccination efforts immunise much of the US and UK populations, manufacturers are now able to fully ramp up their supply chains. In fact, GDP growth could approach double-digits by 2022

Now, the ISM productivity measure has surpassed the 50-point mark that separates industry expansion from contraction. Since U.S. president Biden passed his US$1.9tn stimulus package and the UK purchasing managers index (PMI) increased to 65.6, both sides of the Atlantic are facing a much-welcomed manufacturing recovery. 

Lingering Concerns Over COVID

Even as Spain, France, Italy, and Germany race to catch up, and mining companies pushed the FTSE 100 index of list shares to a monthly high of 7,129, some say that UK and US markets still suffer from a lack of confidence in raw material supplies. Yes, the Dow Jones has made up its 19,173-point crash of March 2020, and MSCI’s global stock index is at an all-time high. 

Yet manufacturers around the world realise that these wins will be short-lived until pandemic supply chain bottlenecks are solved. If we keep the status quo, consumers will pay the price. In April, inflation in Germany reached 2.4%, and across the EU’s 19 member countries, overall prices have increased at an unusual pace. Some ask: Is this true recovery? 

IMF: Current Boom Could Falter

Even as Elon Musk tweeted about chip shortages forcing Tesla to raise its prices, UK mining demand skyrocketed; housing markets lifted; and the pound sterling gained value. The International Monetary Fund (IMF), however, cautioned that manufacturing recovery won’t last long if COVID mutates into forms our vaccinations can’t touch. Kristalina Georgieva, Washington’s IMF director, noted that fewer than 1% of African citizens have been vaccinated: “Worldwide access to vaccines offers the best hope for stopping the coronavirus pandemic, saving lives, and securing a broad-based economic recovery”. 

Across the globe, manufacturing companies are keeping a watchful eye on new developments in the spread of COVID. Though US FDA officials don’t think we’ll have to “start at square one” with new vaccines, the March 2021 World Economic Outlook states that “high uncertainty” surrounds the projected 6% global growth. Continued manufacturing success will in large part depend on “the path of the pandemic, the effectiveness of policy support, and the evolution of financial conditions”. 

Mathias Cormann, secretary-general of the Organisation for Economic Co-Operation and Development (OECD) concurred—without global immunisation, the estimated economic boom expected by 2025 could go kaput. “We need to...pursue an all-out effort to reach the entire world population”, Australia’s finance minister added. US$50bn to end COVID across the world, they imply, is a small investment to restart our economies.

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