The Philippine manufacturing industry has emerged as a key contributor to the country’s economic development, playing an important role in job generation and industrial expansion.
According to the most recent available statistics from the Philippine Statistics Authority (PSA), the industry added an amazing 174,000 jobs, cementing its position as one of the industries with the strongest employment growth in the fourth quarter of 2022.
The Role of Emerging Trends in Manufacturing’s Ascendance
Key industry players and policymakers should take advantage of this ongoing upward growth rate in the wake of the epidemic and amid the global economic crisis. In the upcoming years, experts predict that this tendency may double, maybe reaching the pre-pandemic status of the business.
The industry’s growth and action still depend on staying aware of new trends, despite its great potential. This critical requirement is acknowledged by Jason Lim, Country Manager of Vertiv Philippines.
“Capitalizing on this trajectory can solidify the country’s position in the global economy and create more opportunities for Filipinos. And it will not be possible without addressing the infrastructure challenges our manufacturers experience. That is why we at Vertiv emphasize the importance of prioritizing unmatched protection and reliability for critical equipment,” Lim said.
According to Vertiv, the following new trends should be prioritized, improved, and supported by the local manufacturing sector to promote the growth of the manufacturing sector:
Leveraging AI Systems
Artificial intelligence (AI) is becoming increasingly important in a variety of industries, notably manufacturing, where it plays a critical role in continuous digital changes.
According to DTI Undersecretary Rafaelita Aldaba, artificial intelligence (AI) has the potential to contribute $92 billion to the Philippine economy. As a result, an AI roadmap has been developed to strengthen Filipino businesses, with a particular emphasis on manufacturing.
Concurrently, numerous local businesses are utilizing AI to improve product quality while reducing carbon dioxide emissions.
A dependable protection system, on the other hand, is critical to handle complex infrastructure needs and minimize lost productivity, fines, and revenue loss due to unanticipated issues such as downtime.
These equipment-related failures, fortunately, may be avoided by deploying solutions that protect against typical causes of breakdowns, such as power surges and electrical spikes. Equipping the infrastructure with Vertiv’s rugged industrial Uninterrupted Power Supply (UPS) solutions might be a game changer.
Enhancing Supply Chain Efficiency
Important industry players may improve their strategies by optimizing their production procedures, making investments in new technology, strengthening their relationships with suppliers, and putting sustainable practices into effect.
Prioritizing research and development is also essential for staying on top of market trends and enhancing goods and services over time. Companies may better position themselves to benefit from the present expansion in local manufacturing by taking these actions.
Optimizing the supply chain process for revenue, customer service, and risk management is essential to a successful transition. An effective IT infrastructure is necessary for effective inventory management, purchasing, and delivery. The protection you need to keep your operations operating smoothly is provided by Vertiv’s power protection and monitoring solutions.
Optimizing the supply chain process for revenue, customer service, and risk management is essential to a successful transition. An effective IT infrastructure is necessary for effective inventory management, purchasing, and delivery. The protection you need to keep your operations operating smoothly is provided by Vertiv’s power protection and monitoring solutions.
Precision and dependability are essential in the manufacturing business. Every stage of the manufacturing process is significantly reliant on the equipment’s performance. Failure of equipment can result in financial loss, reputational damage, and increased responsibility for the company.
Tools for predictive maintenance lower costs, avoid downtime, and prolong the life of equipment. Manufacturers need to gather data, identify areas for development, and integrate equipment more efficiently to use them successfully.
The Road Ahead: Seizing Opportunities in Philippine Manufacturing
The Philippine manufacturing industry is experiencing both potential and challenging growth. To realize its full potential, industry participants must embrace emerging trends that improve efficiency, dependability, and creativity. Vertiv emphasizes the need for dependable infrastructure as well as the requirement for unrivaled protection and reliability for vital equipment to this goal.
Visit Vertiv.com to read more about how Vertiv helps to ensure the continuity of today’s vital businesses.
