Small to medium-sized manufacturers (SMM) in the United States are operating in an increasingly complex and competitive environment. The pressure to remain efficient, cost-effective, and innovative among a landscape of global competitors, is greater now than ever. To meet these challenges, companies must adopt advanced technologies and embrace data optimization. One of the most effective ways for SMMs to do this is by forming partnerships with IT service providers.
By now we know that advanced technologies can improve any company’s bottom line –especially in manufacturing– but adoption remains low among small and medium sized enterprises. According to a survey by Unleashed Software, “43% of [SMMs] reported a lack of in-house technical expertise is the main barrier to adopting new technologies.” For small organizations, hiring a dedicated IT department may not make sense. This is where a partnership with IT service providers can come in.
IT service providers bring a unique set of skills and expertise to the table that can help SMMs overcome technological hurdles like a lack of technical expertise and the cost of employing dedicated IT departments. Service partners are equipped to handle the complex and ever-changing landscape of advanced technology, and can provide the tools and support that SMMs need to succeed in the digital age.
The most compelling and obvious reason to partner with IT service providers is the optimization of data. The amount of data generated by SMMs can be vast, and the right data can help companies make informed decisions, improve operations, and stay ahead of the competition. But many SMMs struggle to take advantage of their data, without the expertise to effectively manage and analyze their data. With the right IT partner, these companies can turn their data into actionable insights that reduce waste, drive efficiency, and increase profitability.
In addition to data optimization, IT service providers will help SMMs leverage advanced technology. According to a study by Business.com “only 10% of small businesses are using advanced technologies such as IoT, artificial intelligence, and machine learning.” Not only will the adoption of advanced technology make SMMs more competitive among peer organizations, it will also help them become competitive with the large manufacturers; most of whom are already relying on IoT, AI, and ML to optimize their operations, improve efficiency, and increase profitability with the visibility and prediction power afforded by advanced analytics.
With expertise in the rapidly evolving technological landscape, IT service providers can help SMMs adopt and manage the technology that best serves their individual needs. For example, IT partners can help SMMs identify the most valuable sources of data for their organization, then configure the collection and analysis of those streams of data in real-time to improve product quality and reduce costs.
With the right tools and information in hand, IT service partners can help SMMs streamline their operations. By leveraging advanced technology, SMMs can automate processes, reducing manual labor and increasing efficiency in the process. The visibility afforded by an analysis of the right kinds of data can also identify excess waste and patterns like machine breakdown or supplier delays. In turn, SMMs can begin anticipating and preparing for disruptions that cost time and money. This leads to a more streamlined, adaptable operation that is better equipped to handle the demands of the marketplace.
The manufacturing industry is predicted to see a compound annual growth rate of 12% for IoT solutions for 2023 according to a report by Forester. Staying competitive means staying ahead of this curve with advanced technology and data optimization. But for SMMs, that doesn’t have to mean growing a team of IT specialists or trying to learn and apply IT expertise alone. It can be achieved through a partnership with IT service providers who have the expertise to help develop the bespoke tools and strategies that best serve the organization.
At Stratizant, we specialize in helping SMMs optimize their digital environment to make the most of their data. We understand the challenges SMMs face in today’s rapidly changing business environment and are committed to providing our clients with the expertise and support they need to optimize their data and achieve greater competitiveness. This helps SMMs achieve greater efficiency and accuracy in their operations, and it also allows them to focus on what they do best–– manufacturing high-quality products.