Obsolescence is an unavoidable part of any manufacturing environment. However, it’s concerning that so many companies admit they do not know when vital equipment requires replacing, or when they do, they scramble to find replacements. The latest developments in additive manufacturing could provide an answer to the obsolescence problems.
Additive manufacturing is a transformative approach to industrial production that enables the creation of components using a variety of 3D-printing techniques.

How much is data worth to your business? According to a study by Boston Consulting Group (BCG) and the World Economic Forum (WEF), manufacturing companies could save billions by combining their digital records. This article explains the opportunities sharing data creates for manufacturers and the obstacles they may encounter.

While big data and artificial intelligence (AI) are changing the face of industry, BCG and WEF’s research has found they also could produce benefits worth $100 billion for businesses worldwide. This conclusion is based on a survey of 996 manufacturing managers by calculating the savings their various suggestions could bring to manufacturing companies.

Data sharing is considered a viable opportunity by manufacturing managers. Of those surveyed, 72% thought sharing data with other manufacturers would improve operations, while 47% believed optimized assets are the biggest benefit of sharing data more widely. How can this contribute toward billions in savings?