Due to the effects of the Ukraine conflict, Singaporean manufacturers have become more concerned about their company’s prospects. The prolonged conflict between Russia and Ukraine, is increasing pressures on the supply chain and inflation, raising operating costs for manufacturers. Even with the anticipated lifting of COVID-19 limitations, business expectations remain uncertain.  

The Economic Development Board (EDB) for the manufacturing sector and the Department of Statistics (SingStat) for services both released polls that revealed the attitudes.  

According to Chubb’s analysis, Singapore’s manufacturing industry is incredibly competitive because of the country’s small domestic market and limited natural resources. Many businesses are automatically integrated into the global ecosystem to find suppliers, develop alliances and look for chances to expand their markets. 

This has aided in integrating local producers into a global value chain, which is further made possible by automation and new waves of technology. On the other hand, a natural reliance on the supply chain guarantees efficient operations, production, and delivery. 

Local manufacturers have embraced digitalisation quickly, even more so in the wake of the pandemic, thanks in large part to the government’s efforts to promote transformation and a smart economy. In addition to employing technology internally to improve speed and transparency during the ordering, assembly and delivery processes. 

However, the digitalisation process is not without risk. Consider purchasing systems, which permit suppliers of products, components, and services to connect directly to a manufacturer’s system. Devastating consequences could trickle out of the manufacturer’s system and into that of other players in the ecosystem if the network is compromised. One result of the storage and exchange of so much sensitive data between parties could be a breach of confidentiality or privacy, among other things. 

What actions can the manufacturing sector take to achieve an industrial edge?  

Toyota Mapmaster’s case study demonstrates how this business accelerated the production of highly accurate, data-intensive map information by streamlining the infrastructure by integrating two systems with high-performance storage at their core and achieving cost levelling over the equipment’s lifecycle by using an IT consumption model.  

The company updated the “Map Production Core System” and “Differential Map Production System” infrastructure while maximising RoI. The infrastructure was made simpler by merging two systems with high-performance storage at their heart. This allowed for the efficient accounting of IT assets while securing the performance and capacity needed over the next five years. 

Modernisation of IT-based Digital Manufacturing Solutions 

Solutions from Industry 4.0 assist manufacturing companies in ensuring business continuity, managing operations more intelligently and autonomously, and getting greater insights from data across the enterprise.  

Innovating IT for Manufacturing at the Cutting Edge of Industry 

Manufacturing will be automated, linked, and digitally based in the future. Numerous use cases across the manufacturing cycle are made available by the convergence of IT and plant floor operations technologies, which can spur innovation, make operations more efficient, decrease downtime, and boost worker productivity. 

Technology Advancement to Keep up with the Changing Dynamics of Manufacturing 

To stay competitive in the quickly changing business environment of today, manufacturers must overcome several obstacles. This includes finding new revenue streams, running more effective operations, scaling resources to meet shifting demand and using the vast amounts of data at their disposal to make wiser operation decisions. Many firms are moving faster toward advanced digital transformation to maintain the continuity of their operations and keep up with shifting dynamics. 

OpenGov Asia is pleased to invite you to an exclusive OpenGov Event that aims to provide the latest information on the main factors that will recalibrate the digital transformation strategies towards sustainability and cost savings. This is a closed-door, invitation-only, interactive session with top manufacturing technology leaders from Singapore.