Cloud computing is opening new windows of opportunity for manufacturers to innovate and grow. For instance, it was estimated in 2018 that total global spending on cloud computing platforms would reach $4.2 Billion USD and experience a growth of 23%. Certainly, these are no small figures and they're only estimated to keep growing from an increase of $19.1 Billion USD in 2017 to $28.8 Billion USD in 2028. That's a Compound Annual Growth Rate (CAGR) of 7%!
Today manufacturing companies of all scales face the choice to embrace cloud technology or to risk losing out on opportunities for long term growth. To better understand how the cloud is shaping the manufacturing industry we'll be reviewing how manufacturing is being influenced and improved by innovations in the cloud.
Minimize Costs With Cloud Computing For Manufacturers
The power of the cloud can make a difference in minimizing costs in your manufacturing operations. When you utilize an OpenStack powered cloud it's not necessary to invest in on-premise infrastructure right away. You have the freedom to scale up or scale down depending on the needs of your business and the flexibility to upgrade from a hosted solution to an on-premise solution later on if your business needs to. With an OpenStack cloud, you're able to use the resources you need, precisely when you need them. These savings add up to extra resources to budget towards other areas of your enterprise. Something that your total ROI will thank you for.
In order for manufacturers to offer on-demand delivery, they need to have a comprehensive view of what the demand may be. Businesses can create appropriate forecasts with manufacturing software that receives its power from the cloud. These cloud generated forecasts which vary throughout the year can help determine both demand and capacity planning. Cloud-based applications help generate device history records, so it's simple to save time on manual cataloging and other tasks. This means you're able to maximize on the delivery process. When your business is able to identify gaps in their delivery strategy when they are able to make the necessary adjustments.
Efficiently Manage Data
Manufacturers who want to keep abreast of current trends need to keep a close eye on recent data. Through an OpenStack powered cloud, businesses are able to efficiently store and manage data securely. From creating a knowledge base that allows them to keep track of demand, deliveries, and stock availability. These comprehensive databases give businesses the ability to grow their enterprise with precision.
One of the most significant aspects of accessing data through the cloud is that it must be secure and easy to share. API's enable real-time integration links for collaboration and sharing data. Real-time traceability is possible across supplier networks and widespread locations. This is important because every relevant level of the supply chain needs to be able to access information. Having data at your fingertips gives your business the freedom to grow.
Manufacturing companies of all sizes can benefit from cloud computing. Are you thinking of upgrading to a private cloud solution? VEXXHOST has experience deploying OpenStack powered clouds for enterprises big and small. No matter what industry you're in we have you covered. Contact us to learn more about how we can help you upgrade your business strategy with the cloud today.