Precision Engineering: More Competitive Than Ever Before!
Precision engineering is one of the most competitive and profitable sectors in the world today. The global manufacturing sector employs approximately 20% of the global workforce, with precision engineering and manufacturing alone accounting for a large percentage of this number. Precision engineering make up approximately 18% of all manufacturing output, accounting for over $1 trillion in sales every year.
More than that, countries such as China have shown that with increased funding, it is possible to increase employment rates by almost 15 times in just two decades! This boost in productivity has resulted from more efficient machinery and robotics technology - which are often made possible through precision engineering innovations.
Given that the global manufacturing sector is so competitive, it is important for companies to have a competitive advantage - to be more effective in the global market. To help achieve this goal, it is vital that they look at existing equipment and processes, and see how they can improve them.
Many different industries within precision engineering are affected by quality issues - from aerospace to chemical engineering. And as the industry grows, there are more problems that can affect all types of equipment and processes; as well as new machinery being produced.
With this in mind, it is essential that companies look at their processes and equipment. What these processes and equipment do - what they are supposed to do. But over time there has been a growing trend of looking at how processes can be improved, and manufacturing equipment can be changed with minimal effort.
This is where the precision engineer's knowledge and expertise comes in; to analyse all of these processes for improvement. For companies that have already started to do this - better trained staff, more efficient technique, specification changes etc., often the results are astonishing!
"Over 90% of manufacturers surveyed reported improved technical specifications from customers. In many cases customers have also requested new processes to optimise the performance of existing equipment, or have requested new equipment in response to customer specifications."- Precision Engineering, IMechE Journal, 2012
And this is what companies are looking for. These innovations are not only improving equipment and processes; but they are also increasing productivity and ensuring a high standard of quality. It's not just about making the highest profit possible - it's about being regarded as a globally competitive company. And with over 90% reporting improved technical specifications, it shows that there is strategy behind these changes! The IMechE Journal reported that 89% of manufacturers claim to improve their customers' requirements through improvements in specification... and if customers are happy... then there is a high chance that the company will be too.
So, companies are striving to become more competitive - to look at where they can improve their processes and equipment. But with so many different industries within precision engineering, what is the best place to start? How do you know where your industry sits?
The answer is quite simple; by analysing existing equipment through the use of modern technology! By using CNC equipment and robots, it is possible to look at every part of the process, making sure that it meets with current safety regulations and customer specifications. It is also possible to look at energy efficiency and how it can be improved, as well as reducing cost and improving performance.
Smaller precision engineering companies will benefit from using software that automatically monitors their processes - alerting engineers to problems before they occur. Companies can even write new programs themselves, ensuring that equipment runs more effectively and efficiently. This is a major advantage for smaller companies, as the trend shows that larger companies are far more likely to monitor their equipment through the use of sensors or robotics.
As the precision engineering sector continues to grow, there are even more opportunities for improvement. It is essential for companies to look at their processes and equipment, as this will ensure that they remain competitive and profitable. It's all in the hands of the engineers...to look at how you can improve your equipment and processes!
Title: Precision Engineering: Where Trade-Offs Happen!
T he Global Manufacturing Sector currently employs approximately 20% of the global workforce, with precision engineering and manufacturing alone accounting for a large percentage of this number. The United States alone has a combined manufacturing output of over $1 trillion dollars - an amount that many other countries stand in awe of.
Precision engineering and manufacturing make up approximately 18% of all manufacturing output, accounting for over $1 trillion in sales every year. And because these sectors are so competitive, it is essential for companies to have a competitive advantage - to be more effective in the global market. To help achieve this goal, it is vital that they look at existing equipment and processes, and see how they can improve them.
Many different industries within precision engineering are affected by quality issues - from aerospace to chemical engineering. And as the industry grows, there are more problems that can affect all types of equipment and processes; as well as new machinery being produced. With this in mind, it is essential that companies look at their processes and equipment. What these processes and equipment do - what they are supposed to do. But over time there has been a growing trend of looking at how processes can be improved, and manufacturing equipment can be changed with minimal effort. This is where the precision engineer's knowledge and expertise comes in; to analyse all of these processes for improvement. For companies that have already started to do this - better trained staff, more efficient technique, specification changes etc., often the results are astonishing!
"Over 90% of manufacturers surveyed reported improved technical specifications from customers. In many cases customers have also requested new processes to optimise the performance of existing equipment, or have requested new equipment in response to customer specifications. " - Precision Engineering, IMechE Journal, 2012.
And this is what companies are looking for. These innovations are not only improving equipment and processes; but they are also increasing productivity and ensuring a high standard of quality. It's not just about making the highest profit possible - it's about being regarded as a globally competitive company. And with over 90% reporting improved technical specifications, it shows that there is strategy behind these changes! The IMechE Journal reported that 89% of manufacturers claim to improve their customers' requirements through improvements in specification... and if customers are happy... then there is a high chance that the company will be too.
So, companies are striving to become more competitive - to look at where they can improve their processes and equipment. But with so many different industries within precision engineering, what is the best place to start? How do you know where your industry sits?
The answer is quite simple; by analysing existing equipment through the use of modern technology! By using CNC equipment and robots, it is possible to look at every part of the process, making sure that it meets with current safety regulations and customer specifications. It is also possible to look at energy efficiency and how it can be improved, as well as reducing cost and improving performance.
Conclusion
There is no doubt that precision engineering and manufacture are both the dominant sectors within manufacturing itself, accounting for over $1 trillion in sales every year. However, it is clear that the future of these sectors are still going strong, and with technological advances such as modern CNC equipment and robots, bettering processes has never been more important to companies. Through analysing existing processes and equipment, companies can see how to improve them - ensuring that they remain competitive and profitable!
Title: Precision Engineering: Building for the Future!
W ith many different industries within precision engineering contributing over $1 trillion worldwide on an annual basis - one could say that it is a globally significant industry.