Key Takeaways from FABTECH 2021

In September, Harbor View Advisors attended FABTECH 2021 – North America’s largest metal forming, fabricating, welding, and finishing event. At the event, Harbor View’s Industrial Technology team met with business leaders and attended content sessions. Our key takeaways from the event are outlined below:

• Workforce development sessions were particularly well attended as industry leaders navigate the widespread labor shortage and consider how to recruit and retain a younger workforce as baby boomers retire.
• IoT implementation can create a cultural shift; small businesses must remain agile by adapting small components of automation at a time, noting employee and customer feedback, and adjusting processes accordingly.
• Automation can unite various systems and machines (even if they’re from different manufacturers), promote connectivity and visibility throughout the supply chain, prevent mistakes, and identify parts and processes that are effective or ineffective.
• Manufacturers must be concrete about what real data points are driving their business; understanding how to utilize analytics from machining systems is essential and can help shift or pivot when the business need arises.

‍

‍

DISCLAIMER This presentation is intended for information and discussion purposes only and does not constitute legal or professional investment advice. Statements of fact and opinions expressed are those of the participants individually and, unless expressly stated to the contrary, are not the opinion or position of Harbor View Advisors, LLC (“HVA”). The information in this presentation was compiled from sources believed to be reliable for informational purposes only. HVA does not endorse or approve, and assumes no responsibility for, the content, accuracy or completeness of the information presented.