The manufacturing sector is an ever changing beast and each year the industry faces new challenges. With 2015 fast approaching, Manufacturing Global takes a look at the key concerns manufacturers will have to overcome in the year ahead.
1. Regulation and traceability
The manufacturing sector, like so many sectors, is facing increasing regulation and compliance measures. Everything from health and safety to waste management is surrounded in red tape. While it is undeniable some regulations are essential, other can be a massive burden to manufacturing companies – particularly when they vary from country to country.
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Now more than ever, manufacturers must ensure they have complete visibility throughout their supply chain for their own compliance and that of their suppliers. Regulations often require the ability to track items and materials used during the manufacturing process.
Companies in highly regulated industries, such as medical devices, are facing new regulations including UDI (Universal Device Identification) and ePedigree requirements, while chemical and electronics manufacturers deal with REAC (Registration, Evaluation, Authorization, and Restrictions of Chemicals) and similar laws.
Keeping abreast of regulations and managing compliance reporting is an ongoing challenge faced by the sector, and more and more companies are choosing to dedicate whole teams to stay ahead of new rules.
2. Product development and innovation
We live in a consumer driven world and as such product development and innovation moving at a lightning pace – to stay relevant, manufacturers need to be able to keep up with the pace. As companies vie to be first to market with a new concept, the temptation to compromise on quality can be huge, however manufacturers need to be stringent and avoid cutting corners.