LONDON–(BUSINESS WIRE)–#ManufacturingIndustry–SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on the top trends influencing the US manufacturing industry in 2019 and beyond.
Businesses in the US manufacturing industry are experiencing changes across business models, technology, and customer expectations. They are in the constant pressure of transforming to prevent extinction. Industry 4.0 is providing opportunities for manufacturers to improve their capabilities and operational visibility. Most companies are embracing such trends to achieve significant cost savings and improve customer services.
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At SpendEdge, we understand that keeping a watch on the latest trends in the market is crucial for companies to stay ahead of the curve. Therefore, we have outlined the key trends influencing the US manufacturing industry.
US Manufacturing Industry Trends in 2019 and Beyond
Internet of things (IoT)
The increasing use of technologies such as the Internet of Things (IoT) that allow direct integration of the physical world into computer systems is proving helpful for companies in the US manufacturing industry. They can make informed business decisions based on real-time information, reduce costs, and improve efficiency. Such technologies are also helping companies to improve business models and increase customer satisfaction.
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Shift in the business model
Most companies are shifting from B2B business models to B2B2C (business-to-business-to-consumer) model due to increased profit margins. This is not only reducing retail sales cycle times but also helping them collect data about consumers and increase sales. However, companies require comprehensive insights into all B2B and B2C customer interactions before shifting from B2B business models.
Shifting from B2B business models to B2B2C Delivering competitive services requires comprehensive insights. Request a demo from our experts to access our industry-specific insights for FREE.
Introduction of 3D printing
3D printing is becoming an integral part of the automotive and aerospace manufacturing industries in the US. Companies can test and troubleshoot their products by rapid prototyping in a cost-effective manner. Also, it is minimizing the need to warehouse items by improving the efficiency of the manufacturing process.
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