The manufacturing industry is an agglomeration of various different industries engaged in mechanical, physical, or chemical transformation of substances, materials, or components into industrial or consumer goods. This one of the largest industries has evolved as the fastest-growing sector in the world. Manufacturing can also be defined as the process of transforming raw materials into finished products to fulfill the consumer’s requirements and expectations.
Now, one of the biggest challenges in front of the manufacturing industry is to reimage their value chain. Also, the industry has to gain a competitive advantage in today’s interconnected and hyper-competitive world. This is when manufacturing consulting steps in.
To start with, manufacturing consulting helps organizations optimize their system efficiency, reliability and throughput while minimizing waste throughout their processes. The production process focuses on forming an ideal infrastructure in preparation for higher volume production. From obtaining raw materials to creating QC specifications, there are countless ways in which a business consultant can help the manufacturing businesses.
A manufacturing consultant provides solutions and training. They implement action items at the time of product development process. Quality, delivery, and costs are some of the most common challenges that every manufacturer faces. An experienced business consultant can help manufacturers find reliable, robust, and long-term solutions that improve processes.
As of 2018, China is the world’s manufacturing superpower. The country’s manufacturing sector amounts to almost $4 trillion in 2018, and the whole industry accounted for about 30 percent of the nation’s gross economic output.
However, things may change due to current situations, positioning the US, Japan, or other nations on the top of the list.
Global manufacturing industry is continuously growing at a satisfactory rate of 3% every year contributing about 30% to the global GDP. That is why, the government in most of the countries are primarily focusing on promoting the manufacturing industry.
As per the Statistics for Quarter II, 2019 report, a few industries observed a constant year on year growth rate in all country groups. These items include pharmaceutical products, electronics, computers, and optical products. In addition, good tems also observed positive trends, demonstrating a growth rate of 4.2% in China, 0.8% in industrialized nations, and 2.4% in other emerging and developing industrial countries.
The following figure shows the detailed growth rates of various sectors by nation groups.
Digital transformation is one challenge for the world’s manufacturing industry. The industry faces many other risks as manufacturers widen and deepen their global ecosystem. The biggest ones are cyber threats and geopolitical changes.
As manufacturers start with the globalization of their business operations, the first challenge they face is geopolitical headwinds. Jurisdictions and governments in some parts of the globe are more stridently nationalistic and trading friction is one result.
In a survey conducted by KPMG, CEOs of manufacturing firms were asked about the biggest risks that hinder their organization's overall growth. In response, more than half of CEOs pointed out towards territorialism that is far ahead of disruptive technology and cybersecurity issues. The changing geopolitical landscape should be considered carefully while making investment and globalization strategies. Global expansion in areas with growing demand, such as Asia, often stays in front of the mind. But, the ability to stay secure and retain the flexibility to deal with inevitable things is critical.
CEOs today understand that the more connectivity of global ecosystems means more vulnerability to cyberattacks, and they should be ready to tackle these threats.
Whatever the internal and external threats and opportunities, digital transformation is making the manufacturing industry more resilient. It enables them to navigate the global challenges with agility and speed.
Manufacturing consultancy supports the industry at all stages of their lifecycle. It arms manufacturers with the necessary tools and tips that help them make the best decisions for their organization. Whether you are starting with a brand new manufacturing project, or upgrading or expanding your existing systems, certified and experienced business consultants ensure overall project success.
Business consultants collaborate with your internal team and utilize your own resources to add value to your operations, such as manufacturing and packaging. Their goal is to bring long-term strategic and tactical success to your business. Manufacturing consultants come up with meticulously crafted planning models to research, engage, and plan projects while involving you, reducing risk, and assisting you in good ROI. These professionals come with deep knowledge of various manufacturing systems, vast process knowledge, and decades of collective experience serving their manufacturing clients.
In addition, business consultants help achieve the optimum balance between cost of ownership, quality of services, and technical excellence. They provide support with critical decision making and help development strategies in alignment with government standards.
BrainHunch is committed to innovation, and they align an impressive array of process-based assessments, tools, benchmarking techniques, and other strategies to your business. The consultancy firm combines its expertise with the unique culture, timelines, and needs of your organization that helps to achieve expected and optimal results.
We comprehensively document your current processes. After that, we assess your upstream implications to identify and prioritize barriers to your professional success.
We get to understand your right metrics through scorecard development. Based on that, we bring transformational changes to your business and provide clear visibility into your operations. In the event of multiple patterns or handoffs of rework arise, we figure out and resolve process issues to prevent any potential project delays or cost overruns.
We identify any redundancies and opportunities that help to streamline operations to enable revenue assurance further. We also recommend proven improvement plans according to the latest and best practices in accordance with industry benchmarks.
The manufacturing industry is going through a major digital transformation that is crucial for today’s hyper-competitive and interconnected world. Business consultants help manufacturing companies stay focused on their core business activities by handling their transformational process.
That makes a manufacturing consultant's requirement vital for any manufacturing business that aims to stay ahead in the competitive world.