The manufacturing industry has experienced rapid development over recent years in terms of advancement in technology, operations and best practices. With the current march towards digitalisation, the sector is undergoing a makeover, challenging traditional mindsets and paving the way for the future of the industry.
In light of the digital wave across the world economy, the manufacturing industry in Singapore must keep up and transform itself to support the changes impacting Singapore. The Singapore Manufacturing Federation's (SMF) has initiated collaborative and inclusive efforts to redefine manufacturing in the digital economy to help the industry to understand and prepare for the challenges and opportunities ahead.
Mr Douglas Foo, SMF President said, "Digitalisation is more than just a trend; it is a development that is reshaping various industries from healthcare to media, retail and tourism, creating novel business models."
The Singapore Innovation & Productivity Conference and Manufacturing Solutions Expo 2017 will be held from 25 to 27 October 2017 at the Singapore Expo Convention & Exhibition Centre. The Guest of Honour is Mrs Josephine Teo, Minister, Prime Minister's Office, Second Minister for Manpower and Second Minister for Home Affairs.
Future of Manufacturing: Digital Transformation
The future of companies in the manufacturing sector will depend on how well they cope with the changes in the global manufacturing landscape and the disruptions brought about by new technologies and business models. Besides embracing innovation-led productivity, companies have to transform their business model and operations through leveraging Industrial Internet-of-Things and Industry 4.0. Companies that fail to embrace the digital transformation may risk being disrupted or made redundant.
The conference on 25 October, presented by Singapore Innovation & Productivity Institute (SIPI), addresses these and covers three topics - Developing the New Mindset & Perspective, Industrial IOT & Industrial Revolution 4.0 and Digital Transformation: Plans & Solutions. Thought leaders from government agencies, private sector and academia will share their perspective on the topics. The ultimate goal is to encourage companies to take actions and make positive changes toward digitalisation and advanced manufacturing. Many of the solutions were showcased at the adjacent Manufacturing Solution Expo.
Manufacturing Alliance among key trade associations
The SMF, Singapore Infocomm Technology Federation (SiTF), Singapore Precision Engineering & Technology Association (SPETA) and Singapore Industrial Automation Association (SIAA) inked a Memorandum of Understanding (MOU) during the opening ceremony, witnessed by Minister Josephine Teo. As the call to transform the manufacturing industry towards digitalisation becomes more compelling, this four-way collaboration signifies the coming together of several trade associations to coordinate and help companies in their transformation journey.
Mr Foo said: "The MOU marks the start of the Manufacturing Alliance, a collaboration to jointly develop and roll out initiatives to enhance the capabilities of the manufacturing industry, with a vision to transform it towards higher level of digitalisation and productivity."
Source: Singapore Manufacturing Federation