Even before the pandemic began, the United Nations published research predicting potential labor shortages for economies worldwide. The pandemic has only hastened and exacerbated the situation. Today, we are in the midst of massive resignations in company after company and lack of staff to do even basic things.
The #SmartFactory is expected to solve some of these problems. It would use robots to solve labour shortages. A survey by ProShares in 2020 reported that 24% of manufacturers were incorporating smart manufacturing. This is expected to more than double by 2026. However the Smart Factory would need to deploy not just robots, it would need to bring in the principles of sustainability too. Also, even if ‘how you make things’ is standardised, ‘how you source’ and ‘how you ship’ would still have a significant impact on your carbon emissions.
This will be enabled by the new generation of customers who will demand corporate action against waste and brands that care not just for their profits but causes that create a better world. Reverse supply chains will become an integral part of business as companies integrate into the circular economy.
The period from 2022 to 2030 will therefore be about producing goods in different ways. As we get into the 5G world, machines will get smarter and quicker. #AI and #machinelearning will be able to anticipate, produce and deliver products based on demand.
On demand business models that bring production close to customers and are zero emission will begin to hold sway. #NetZeroShift #circulareconomy