Current inflation has had a profound impact on the manufacturing industry, leading to increased production costs and strained profit margins. Recent statistics reveal that manufacturing input prices have risen by an average of 10.5% over the past year. Additionally, the manufacturing Purchasing Managers' Index (PMI) has shown a notable decline, indicating a slowdown in production and business activities. Manufacturers must proactively implement strategies to address these challenges, such as optimizing efficiency through technology and reevaluating supply chains.

Have you been looking to technology to provide opportunities in the face of inflation?   Check out this month’s article below for helpful information, or contact us to learn more about how you can start optimizing your business and forge a path of growth and success.

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Technology Solutions to Combat Economical Challenges

Manufacturers are embracing emerging technologies to optimize their operations and achieve more with less. One significant area of implementation is the integration of advanced robotics and automation into production processes. According to a recent survey by the International Federation of Robotics, global robot installations in manufacturing industries increased by 10% last year, reaching a staggering 381,000 units. By leveraging robotics, manufacturers can enhance productivity, reduce reliance on manual labor, and minimize the risk of errors, resulting in improved overall efficiency and cost-effectiveness.

Learn more in this month’s article as we dive deeper into the ways manufacturers can leverage technology to overcome the current economic challenges.