July 13, 2017 by Olivia Jaras

News in Manufacturing, Technology and the Future of Digitilization

overview.jpeg

 

Volvo to Debut All- Electric Vehicle Product Line

In a recent announcement, Volvo Car Group will begin phasing out the use of combustion engines and introducing new electric motors for their vehicles by 2019. The company will release a product line of five electric models by 2021. 

These cars will also offer hybrid options making it one of the broadest electrified car of

ferings available on the market. These models will offer beautiful designs, fewer fuel emissions, and better driving options in order to compete with other automakers including the pioneer of the electric market segment: Tesla Inc. Volvo is committing fully to the transition to electric with hybrid options and climate neutral manufacturing. Only time will tell how other car makers will respond to the company’s shift and whether or not they will follow suit or stay differentiated. What do you think about the inevitable change of the traditional vehicle as we know it?

GE and BMW to Digitize Industrial Manufacturing

Customization for customers seeking manufactured goods in industries across aerospace, automotive, and medical has now been made easier and more efficient. This is all thanks to GE and BMW’s $15 million investment in Xometry (pronounced Zometry) which is a digital portal with an easy-to-use interface that connects buyers’ specific needs to a perfectly matched manufacturer. While this is obviously a benefit to consumers, it is also a job producer for manufacturers of all sizes.  It is important that manufacturing in the US begins to innovate as other industries and companies are gravitating towards giving customers the ability to find what they want, when they want it. Do you think this investment in Xometry will revolutionize industrial manufacturing?

Becoming a Frontrunner for Digitalization 

When it comes to aerospace and defense industries investing in digitizing their companies, most fall into two groups - frontrunners or followers.  Achieving the frontrunner status is not based on how much money is invested, but rather in the use of their vision to digitize every aspect of the organization in order to make business decisions. A company is far more inclined to become a frontrunner when digitalization is used through as many functions throughout the organization as possible. One major factor for becoming a frontrunner is employing a Chief Digital Officer (CDO) as very few companies have appointed a position of its kind. How can your company improve the digital aspects and move from a follower to a frontrunner? Find the right digital solution for you, demonstrate the benefits of adopting digital, and make sure your digital strategies are always evolving.

Thanks for reading! Subsribe to our blog to enjoy more content from Machine Tool Bids.

 

Follow me on Twitter