Manufacturing, along with the rest of world, is experiencing an unprecedented transformation thanks to changing consumer expectations. In fact, since 2000, 52 percent of the companies in the Fortune 500 have gone bankrupt, been acquired or ceased to exist.
With on-demand access to an expanding number of personalized goods and entertainment content, consumers expect the same level of service from everything else, too. And thanks to Moore’s Law, smaller and increasingly more powerful computer chips can easily be added to almost anything we can imagine, including our clothing. With personalization, miniaturization and connectivity changing the way people live and work, there’s a huge opportunity for manufacturing partners to deliver incredible value to our customers and our customers’ customers through building a new approach to manufacturing — the Enterprise of the Future.
So, as the lines between the physical and digital worlds continue to blur, the move toward smart factories makes sense. But how will manufacturing leverage the on-demand, digital world and transition from mass production to mass customization? How can manufacturing deliver mass customization while reducing time-to-market?
That’s why Jabil is building tomorrow's manufacturing ecosystem. We’re rigorously integrating supply chain, Industrial Internet of Things (IIoT), analytics, artificial intelligence, human resources and automation in order to shape and enhance operations, both inside the factory and beyond. Of course, none of this collaboration and connectivity would be possible without a strong focus on information technology (IT).
The benefits are compelling. Our customers will enjoy unprecedented shorter time-to-market, dramatically reduced inventories, required capital and costs while improving worker safety and operational efficiencies. And as we work toward revolutionizing the way manufacturing exists today, there’s also dramatic benefits to the world economies. According to Accenture, smart factories will add trillions of dollars to many countries over the next 15 years. Smart manufacturing will extend to two-thirds of the world's economy and improve the U.S. GDP by 2% by 2030.
“Technology is advancing at light speed. Innovations like the ones we’re seeing in sensors, connectivity, big data and analytics are enabling accelerated optimization of solutions, new consumer and customer experiences and entirely new business models,” said Jabil's Erich Hoch. “Jabil is sitting in the epicenter of this transformation, serving 250+ of the world’s most eminent brands. That cross-industry insight – and the immense amount of data that follows – allows us to innovate and take action much faster… And speed as the only differentiator in this fast moving Digital Economy.”
How is your product development lifecycle currently affected by compressed lifecycles and demand for personalization?
Over the next several months, we’ll have various perspectives on how manufacturing is addressing this market disruption. We’ll be featuring articles, videos, motion graphics and Infographics around the Enterprise of the Future, sharing challenges and insights from the Jabil experts in IT, automation, additive manufacturing and human resources who are shaping the next generation of manufacturing.