The world of manufacturing is changing at a rapid rate and inevitably, there will be winners and losers. Firstly, climate change and the security of supply of raw materials are a growing concern for many businesses. Secondly, rapid development in technology with the introduction of instant reporting, 3D-printing and robotics is creating a massive divide in the capacities and outputs of manufacturing businesses. And finally, the world is more interconnected than it has ever been. This provides a tremendous opportunity to extend to new markets, but it also means that the competition is global, creating even a greater need to learn, develop and adapt continuously. Compounding to these three challenges is also the fact that a growing number of customers prefer access to services over product ownership.
These fundamental challenges and the changing consumer behaviour is demanding manufacturers to rethink how they view the products that they produce.
25th June, Arena MK, Milton Keynes
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