Uncertainties have been compounding in the recent past, with developing signs of weakness in economic growth and other high-frequency parameters. To provide manufacturing decision-makers in South East Asia with improved insight into global economic conditions in 2023, International Metalworking News for Asia asked thought-leaders in the metalworking industry how their technology can give the industry a positive outlook for the future.
Hear from Manny Valenza, Sales Cluster Manager, SEA-Oceania for Sandvik Coromant on his views on how to provide manufacturing decision-makers in South East Asia with improved insight into global economic conditions in 2023.
The metalworking industry has changed drastically over the last few years, and I would say that today we are more digital and data driven than ever. The impact of the Covid-19 pandemic has truly highlighted the power of digital technology and its potential in manufacturing like never before.
And we expect this digital demand to rise. In fact, International Data Corporation (IDC) reported that digital will rule in Southeast Asia by 2023, according to the Top ICT Predictions for 2022. It’s predicted that one in three companies will generate more than 15 per cent of their revenue from digital products and services by 2023, compared to just one in six in 2020.
Sandvik Coromant clearly sees that our customers, partners, and distributors in Asia are ready for new ways of working that embrace digital transformation. For example, we have seen more activity with our online ordering system, increased demand for our digital tools and solutions, as well as for our online training events and virtual live machining sessions broadcast from our Sandvik Coromant Centers.
The motivation for enterprises to innovate in a digital-first economy is getting stronger and we are committed to helping these manufacturers gather even more pace.
At Sandvik Coromant, one way we are leveraging digital solutions is to empower our employees to better support customers. Our customers rely on us for our skills, which involves the skills of the machine operator combined with those of our technical experts. We have built up decades of industry knowledge in our workforce. As a result, we are now able to convert that knowledge into a digital format to be analysed and fed back into customers’ manufacturing processes to optimise efficiency on the shopfloor. To do this, we teamed up with Microsoft to build a predictive analysis solution based on Microsoft Azure.
We have also developed our unique CoroPlus? platform, which puts us ahead of the curve by preparing our customers for the next industrial revolution. CoroPlus? provides unparalleled visibility into a manufacturing operation. With access to connected tools and software, our customers can effectively monitor machining performance and get customer support in real time. CoroPlus? has the potential to help manufacturers incorporate connectivity, remote monitoring, and advanced machine analytics. With CoroPlus?, sensors, tools, connectivity, algorithms, and data analysis all collaborate to ensure streamlined manufacturing operations.
Together with Sandvik Coromant’s tooling recommendation software and data analytics, our customers can optimise their design and planning production processes to save production time and improve quality.
It is technology like this that will be key to enable manufacturers in Asia to pursue a digitised future, embrace the latest manufacturing industry trends and create revolutionised organisations.
With exciting new machining advancements, digital solutions, monitoring capabilities, and material discoveries on the horizon, the future looks bright. This will lead to remarkable innovation and unprecedented productivity. However, this also presents fresh challenges and everyone in the manufacturing industry needs to adapt.
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