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Manufacturing faces an even larger shortage of skilled workers as older employees retire over the next few years, the head of SME said in a speech today.

Manufacturers are accelerating use of Internet of Things (IoT) technology, according to a survey of 66 companies.

Unveiled at its Insights 2017 customer conference today, Epicor Software Corporation, a global provider of industry-specific enterprise software to promote business growth, introduced the latest version of Epicor ERP, the global enterprise resource planning solution in use today by thousands of customers in 150 countries worldwide.

In the early days at CNC Software, we saw that our Mastercam CAD/CAM system was only part of a larger manufacturing solution and that an open architecture foundation could allow seamless data communication with complementary devices and systems across the shop floor.

With the latest product lifecycle management (PLM) tools, manufacturers take aim at speeding developments using the Digital Thread, an integrated set of CAD/CAM/CAE and cPDM (collaborative Product Data Management) solutions that weave together new Digital Twins of manufacturing processes.

Having a plan for maintaining and improving the performance and reliability of every machine on a shop floor is vital to manufacturing operations. Reliable machines make short-notice production runs possible. And the more flexible manufacturers are, the more new customers they’ll attract.

Manufacturers face the ongoing challenges of managing exponential product complexity, staying competitive, and avoiding disruption. For many of them that leads to the notion of digital transformation, but they are not always sure how to get started.

Manufacturing operations depend on getting the right information at precisely the right moment, ensuring that products get built on time, to quality specs. With the latest enterprise resource management (ERP) software, this critical data flow is often coming via the cloud, as more manufacturers become comfortable with it as a repository for key manufacturing information.

At the Digital Manufacturing and Design Innovation Institute (DMDII) in Chicago on March 27, Siemens demonstrated its approach to the “Fourth Industrial Revolution.” At its annual U.S. Innovation Day, Siemens demonstrated real-world applications of digital solutions that it says will reduce costs, increase speed, develop new business models, and improve quality of life.

Today’s virtual technology enables faster and better product development. Planes, trains and automobiles are defined in CAD, subjected to virtual tests to see how they might fail, re-designed, virtually manufactured and virtually shown to customers to confirm market acceptance.