As the pandemic continues just how do you navigate difficult times?
35% of manufacturers say that lockdowns are their biggest concern in next 12 months, a recent Make UK survey has discovered. Hopefully, a successful vaccine roll out in the coming months will prevent future lockdowns but what else is being done to kick-start the economy for manufacturers?
Make UK are using their survey findings to support a recently published 3-point recovery action plan. The proposal calls for government interventions for manufacturing over & above the extension of the furlough scheme. The Prepare, Implement, Lead proposal seeks support for the immediate lockdown period, plus an exit strategy and long term recovery to:
- Improve skills & create jobs
- Boost investment & innovation
- Mitigate cash flow challenges & sustainable debt management
We agree that investment is key for future recovery. Before the Covid pandemic, Technavio projected for 2019-23 that the worldwide Electric Drives market was to grow by $5.11bn (£3.85bn). They held that one of the key drivers for this is investment in automating manufacturing processes such as adopting IoT. Such investment allows manufacturers to eliminate bottlenecks, reduce inventory, improve quality, shorten time to market, pivot quickly to meet customer needs, and expand the number of products made.
Simply, IoT enables machinery to connect with motion control systems. This Digital manufacturing leverages digital technologies to create a connected, networked and fully integrated factory environments. Here the manufacturing process uses real-time data analytics to optimise and realise productivity gains of 10 to more than 1,000%.
So far, the industrial world has yet to capitalise fully on integrated technological advancements at the same rate as other sectors.
The Paper Industry, where Sprint Electric drives are widely used, has come a long way since the world’s first mechanical paper machine was installed at the UK Frogmore Paper Mill in 1803. The UK now has 62,000 direct and 100,000 indirect employees across 47 paper mills and 86 other companies. With an annual turnover of £12bn the potential of IoT investment that increases productivity is significant. And the UK is not even in the top 10 largest paper producing countries; China, US, Japan and Germany are the leaders by market share, so investment here is a worldwide opportunity to thrive.
We have worked seamlessly here at Sprint Electric through both lockdowns. Our sales and technical support teams are available for enquiries on paper applications, IoT and all other matters, so please contact us here should you have any questions.
Stay safe and keep positive.