When a person thinks about the manufacturing industry, cutting-edge technology might not be the first notion to pop into his or her head. Images of smoke stacks, older factories and clunky machinery most likely come to mind. However, when you step inside the factories of today, you're quickly treated to a very different scene. From advancements in materials, to additive manufacturing, to innovative bar code scanning devices for inventory and logistical optimization, there has not been a single sector in our economy with more technological movement than the manufacturing industry.
And the high-tech progress in manufacturing doesn't come to a halt once you leave the shop floor. As we discussed in Technology Aids Spend Analysis for OEMs, manufacturers are implementing various forms of information technologies and analytics to slash costs and escalate efficiencies throughout their entire business operations.