Digitalisation technologies will transform maritime industries on a global scale over this decade in positive and negative ways
DNV GL suggests a surge in 3D printing adoption and technology development could reduce demand for seaborne trade in its Technology Outlook 2030.
In a future supply chain, files could be sent via printing platforms instead of spare parts for printing locally. This could be potentially disruptive for supply chain participants, such as shipping companies and tax authorities.
Upsides could include shortened lead times, lifecycle and working capital cost reductions and a lower carbon footprint due to less transportation.
DNV GL forecasts that perhaps up to 85% of spare part suppliers may have incorporated 3D printing by 2030, leading to a 10% reduction in seaborne trade of semi-manufactured parts in 2040.
U.S. Bank’s latest quarterly Freight Payment Index for fourth quarter describes a positive economic environment for the U.S to end 2018 but it also points to one of a possible slow down as we progress into 2019. The U.S. Bank National Shipment and Spend Indices both increased from the third to fourth quarters, with the Spend Index increasing 7.2% to a record high. Meanwhile, the National Shipment Index rose 1.7% from the third quarter.
Indeed, despite the positive end to 2018 and midway into the first quarter of 2019, the year’s outlook is even murkier than in December when the U.S. Bank noted concern for a possible slow down this year. So many unknowns on the economic stage as one wonders the effects of additional tariffs that are expected to increase in March, the lack of UK government guidance as Brexit looms with just a month to go for the final break, China’s economic downturn and a growing concern of a global recession.
An open-access, end-to-end digital thread is bringing mass customization to mass production.
The world of making is changing, and businesses are digitally transforming from mass production to mass customization as consumers demand individualized, emotional experiences. New technologies such as 3D printing, artificial intelligence (AI), and the Internet of Things (IoT) are starting to significantly impact how products or experiences are designed and manufactured. Meanwhile, social apps, Big Data, and the Cloud are creating opportunities to interact with and understand the consumer in totally new ways. So how do we bring these new data streams and technologies together to produce meaningful business insights?