Back Market now offers refurbished electronics in the US. "Our conviction is that the refurbishers are going to be more and more considered by the public as the manufacturers of tomorrow," says Chief Marketing Officer Vianney Vaute.
Quality data management is central to all industrial internet of things functions, and machine builders must include data solutions in the design process, writes Sciemetric executive Derek Kuhn. "The most efficient and cost-effective way to deliver on these requirements is to seek out a proven, common standard solution and incorporate it into the build," he writes.
Small and midsized manufacturers can borrow the same omnichannel principles used by retailers and B2B merchants to improve inventory management and other tasks, writes Gavin Davidson of Oracle NetSuite. Such a system, which he calls an omnichain, "is based on a single cloud-based environment to align and orchestrate all supply chain processes, wherever they occur."
Digital twins excel at accurately predicting potential failures, saving companies money by avoiding downtime and maximizing efficiency and yield, writes Channels, Progress executive Seth Page. Repairing an asset after it has failed costs 50% more than correcting the problem beforehand, Page notes.
Manufacturers can ensure they're in compliance with various standards for electronics design by conducting accurate tests and testing electromagnetic compatibility before compliance testing. Manufacturers should also understand certification labels, writes Megan Ray Nichols.
The National Institute of Standards and Technology revised its Cybersecurity Framework to provide improved resources and guidance in protecting the digital supply chain for US companies. These updated recommendations aim to reduce foreign espionage efforts.
Alibaba has signed an agreement to create a smart digital hub in Thailand, though founder Jack Ma says it's not aiming to occupy the country or take jobs. The hub aims to support Thailand's entrepreneurs and will focus on research and development as the competition between online retailers in the region continues to grow.
Mike Larkin joined Winsupply in 1977 and has sponsored eight locations in Kentucky, brought his two sons into the company and become area leader for the Southeast region. "If you are willing to put the work in and willing to invest your own hard-earned money, you are given the opportunity to do what I was looking for: control your own fate and destiny," he says.