Can the Internet of Things bridge the Industrial Generation Gap?
American manufacturers are facing a dilemma that will surprise a lot of people – a labor shortage. Specifically, manufacturing is facing a shortage of skilled workers caused by the retirement of the Baby Boomers (persons born between 1945 and 1965).
The shortage is occurring because not enough members of younger generations are entering manufacturing to take the Baby Boomers’ places. Manufacturers are having a tough time luring Generation X (born between 1965 and 1980), Millennials (born 1981 to 1995), and Generation Z (born after 1995) into the factories.
To make matters worse, when those people do take manufacturing jobs they often lack the skills and experience of the retiring Boomers. This Generation Gap is a looming problem for manufacturers that companies like SyncFab aim to solve with the blockchain technology.
25% of Manufacturing Workforce is about to retire
Mass retirement is about to become a crisis for manufacturers, because of the sheer number of retiring Boomers. The youngest Boomers are 53, just 12 years from retirement.
“Between 22% and 25% of the manufacturing experts are going to retire soon, and there is not this pool of talent out there to augment this pool drain,” Brian Fortney; a global business manager for training services, told Design News. Fortney is concerned because of the number of Boomers in critical positions such as plant engineers.
The loss of knowledge and expertise can leave factories with a shortage of skilled workers and nobody to train their replacements. This can hit smaller manufacturers; which often rely on a few highly-skilled veteran workers to keep their operations running hardest.
The situation is made worse because younger workers often refuse to consider manufacturing for a wide variety of reasons. People under 40 or 30 might believe manufacturing no longer exists in America, view factory work as dirty, dull, and dangerous, or simply have no idea what it entails.
Can the Industrial Internet of Things bridge the Industrial Generation Gap?
SyncFab; a manufacturing technology company based in San Leandro, California might have the solution for the generation and skills gaps in the form of the blockchain and the Industrial Internet of Things (IIoT).
SyncFab is already demonstrating how the IIoT can eliminate the need for onsite designers and engineers at factories. In SyncFab’s decentralized system the engineering and design work is done at large companies like Amazon and Lockheed Martin. The designs are then sent to devices such as CNC Laser Cutters over the IIoT.
This lessens the need for having engineers and designers on site. It also creates tasks that can be done by people with less experience or specialized education. One side effect of that is to make smaller firms such as mom and pop machine shops capable of handling orders from large factories.
Smaller firms can provide more flexible work which is often more appealing to younger employees. Many Millennial and Generation Z employees prefer smaller less-structured workplaces.
Why Industry Needs Generation Z
The most valuable attribute Generation Z will bring to manufacturing is its comfort with technology. They grew up with smartphones, the internet, digital payment, online games, Amazon, and social media in a networked world. That means Generation Z will not be afraid of the new tech like blockchains, and more likely to embrace and use it.
Retooling workplaces for Generation Z is a smart move because that demographic now makes up 25.9% of the U.S. population. That means there will be enough Generation Z members to take the place of the retiring Baby Boomers if companies can figure out how to hire them. One way SyncFab hopes to lure younger workers into manfufacturing is with a new blockchain based platform and an Ethereum based token called MFG.
The next biggest challenge for manufacturers will be figuring out how to lure Generation Z into the factories. Solutions like SyncFab’s blockchain might help make manufacturing more attractive to younger Americans.
An overview of SyncFab’s solutions can be found here: https://syncfab.com/
More information about the MFG Token and an ongoing token sale is available here: https://blockchain.syncfab.com/.
A detailed description of the SyncFab blockchain platform is found in this whitepaper: https://blockchain.syncfab.com/SyncFab_MFG_WP.pdf
Updates about SyncFab are available from its Telegram channel: https://t.me/syncfabhttps://geekcrunch.reviews/can-the-internet-of-things-bridge-the-industrial-generation-gap/https://i0.wp.com/geekcrunch.reviews/wp-content/uploads/2018/04/syncfab-promo-photo.jpg?fit=855%2C570&ssl=1https://i0.wp.com/geekcrunch.reviews/wp-content/uploads/2018/04/syncfab-promo-photo.jpg?resize=150%2C150&ssl=1Digital AmplificationInnovation25% of Manufacturing Workforce is about to retire,Can the Industrial Internet of Things bridge the Industrial Generation Gap?,IIoT,Industrial Generation Gap,Industrial Internet of Things,shortage of skilled workers,SyncFab,Why Industry Needs Generation ZAmerican manufacturers are facing a dilemma that will surprise a lot of people - a labor shortage. Specifically, manufacturing is facing a shortage of skilled workers caused by the retirement of the Baby Boomers (persons born between 1945 and 1965). The shortage is occurring because not enough members of younger...Daniel JenningsDaniel Jennings[email protected]AuthorGeek Crunch Reviews