HVM as a Concept
High Value Manufacturing, or HVM, as a term is widely used and accepted today. When it was first introduced in the early 2000s, it embodied principles and ideas, which encouraged this more traditional sector to think about doing business in more holistic ways. This meant considering a wider range of issues when devising products, in addition to decreasing costs while driving productivity and output. These included time-to-market, sustainability, cultural and societal trends, among others.
Value Generated by HVM Manufacturing
Modern manufacturing firms are taking on the transformation of products into solutions and services and assuming more diverse roles than they did 50 years ago. To remain competitive, manufacturers need also become inventors, innovators, supply chain managers and service providers. What was once seen as simply production now also includes research, product development and design, support and provision of value-added services. High-Value Manufacturing (HVM) companies create value, in addition to devising innovative production processes, driving brand recognition, improving delivery times, and customising service offerings.
Value-added Manufacturing Technologies
Technology is the fastest and most reliable way for a manufacturer to become ‘’high value’’ by streamlining production processes and equipment, diversifying products and services, revolutionising distribution and becoming more adept at responding to ever-changing global trends and customer needs.
Continuous economic growth and international competitiveness in traditional manufacturing now requires a conscious shift to a high value-added modus operandi, without delay. Electronics, biomedical/chemical manufacturing, and professional services are all projected as key growth sectors in the coming decades, and their core processes will need to become tech-driven to compete. Achieving this requires the integration of adaptive and smart systems and the inclusion of new technologies into advanced manufacturing processes.
Collaborative and Mobile Enterprises
Mobile, IoT and virtual/augmented reality applications like Microsoft Hololens, are enabling today’s employees to work together in smarter, more effective ways that are also interactive and fun. Mobile devices make it easy to communicate across the enterprise, IoT supports industrial automation by collecting and analysing data, while VR/AR solutions facilitate remote collaboration on 3D design projects.
Long gone are the days of autopilot production of goods that may become obsolete by the time they roll off the production line. In order to succeed in a sustainable way, the manufacturers of today must stay up-to-date on customer preferences and desires. Collecting this data from various sources and modelling it into new or improved deliverables or production models is much easier today, when utilising mobile technology, virtual reality devices and the Internet of Things (smart devices).
Integrating High-tech into Manufacturing
Innovation is a powerful driver of sustained economic development during the fourth industrial revolution we are experiencing. It is crucial for creating value, driving productivity and remaining competitive in manufacturing industries, and offers different ways of being expressed. Whether it is by creating new raw materials or discovering different sources, designing new products or production methodologies, bettering quality, durability or safety, innovating packaging, supply chain and logistics processes or expanding into new markets, technology is likely the fastest and most reliable means to adding tangible value.
Furthermore, technological advances can be applied to all parts of the value-adding chain, including R&D, product design, marketing, distribution, customer service and after-sales support. Contact PegusApps for a technology consultation on strategies for adding value to your manufacturing processes and service offerings.
Copywriter: Ina Danova