MAY 20229MANUFACTURING TECHNOLOGY INSIGHTSto lower production lead times, reduce costs, and mitigate geopolitical and currency risk, while facilitating major improvements in our carbon footprint. For example, our objective is to be carbon positive and zero waste to landfill by 2030. Already more than 60 of our manufacturing and distribution sites are zero waste to landfill with a target of 50 percent of our manufacturing and distribution centers by 2021.Many manufacturers also learned first-hand how Industry 4.0 technologies can help keep their operations online in difficult situations. For example, Stanley Black & Decker has already rolled out 50 cobots (or collaborative robots) across its manufacturing plants, which are helping to save employees time on repetitive tasks and increase overall productivity. For example, these technologies helped our plant in Fort Mill, South Carolina, stay open during the height of the coronavirus outbreak, enabling us to take advantage of a surge in demand for handheld power tools during the summer.A MANUFACTURING AND SUPPLY CHAIN ECOSYSTEM APPROPRIATE FOR A POST PANDEMIC WORLD HAS SEVERAL ATTRIBUTES WHICH HAVE PERHAPS NOT BEEN GIVEN THE ATTENTION THEY DESERVE IN THE PAST. CAN YOU PLEASE LET US KNOW WHAT CAN BE THESE ATTRIBUTES?The most important manufacturing and supply chain ecosystem attributes are agility, speed, and anti-fragility. Agility requires a resilient supply chain that doesn't rely too heavily on a single vendor and that allows for efficient distribution and transport of materials and products. Speed refers to a manufacturers' ability to ramp up production and adjust in the face of macroeconomic headwinds. Anti-fragility is a concept that we use to express our ambition to move beyond resilience to become stronger with every stress or that affects the system. It's more of a mindset that ensures we learn from moments of stress on the supply chain--be it related to resources, cost, time, etc. An ability to absorb learnings and apply them in practice is an integral attribute for successful manufacturers moving forward.IT MAY BE A PERFECT STORM OF DISRUPTION THAT HAS LED US TO THE REALIZATION THAT DIGITAL TRANSFORMATION IS ESSENTIAL, BUT THERE IS ALSO A PERFECT STORM OF TECHNICAL BUILDING BLOCKS THAT HAVE COME TOGETHER TO MAKE THE IDEALS OF THE SMART FACTORY REAL AND ATTAINABLE. YOUR VIEWS ON THISThe era of smart manufacturing is here. There are a range of technologies that are now able to be used at scale, including the industrial internet of things, cooperative and mobile robots, predictive analytics, augmented reality, additive manufacturing, and more. Together, these technologies can be used to unlock the potential of a smart manufacturing ecosystem. For example, consider digital twins. This technology allows us to create a virtual plant, machine, or product and design it all digitally before it's created physically. We're able to simulate an experience using a digital thread of how it will all work together. This has the potential to save millions of dollars in material investments alone.But, while these technologies offer great promise, it's important to recognize that they are not meant to replace humans. On the contrary, they should be used to unlock human potential and create opportunities for a modern workforce. Consider artificial intelligence, for example. A better way to frame AI is to call it Augmented Intelligence (AI), as it can be used to make a person more effective at their role, more efficient, or more productive. Our goal is to use this technology to take humans away from the dull, dirty, dangerous jobs and put them into the jobs that require creativity and foresight ­ skills that robots lack.WHAT WOULD BE YOUR PIECE OF ADVICE FOR YOUR FELLOW PEERS/COLLEAGUES?My advice would be to embrace Industry 4.0 and the latest in advanced manufacturing strategies. It's never too late to start your journey and this space will only grow in importance. Experts predict that Industry 4.0 will eventually be a $4 trillion market.Smart manufacturing can deliver significant safety and sustainability benefits. Employees can work safer and more efficiently with cobots and advanced analytics. Companies can save on operating, transportation, and other logistics costs. Operations and manufacturing can be more agile and responsive to changing consumer demands. This is a marathon and not a sprint. Curiosity, life-long learning, and continuous improvement will be key ingredients to winning. The future is here now. Our goal is to use this technology to take humans away from the dull, dirty, dangerous jobs and put them into the jobs that require creativity and foresight ­ skills that robots lack
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