MMT Chats: Why Is Tooling Digitalization on the Rise?

^{This episode is brought to you by ISCAR with New Ideas for Machining Intelligently.}

Today OEMs need digital mold information to proactively manage troubleshooting, and lifecycle and maintenance budgets. A phased approach to digitization is currently taking place within many OEMS — from cycle counters to sensors in waterlines and cavities to collect data – but the ultimate goal is a qualified mold with reliable generated data where a manufacturer only needs to monitor the process, avoiding metrology and achieving a rapid release program with molders, saving resources and time.  

With digitization, OEMs are looking for a more proactive approach to lifecycle management and require more timely information to make budget decisions while providing the necessary visibility to decrease the risk to their supply chain. Without this information, OEMs are likely to push back on molders to take on the cost of mold maintenance and overall portfolio risk directly to the molders. Considering the strategies being deployed by OEMs to reap cost savings and decrease supply chain risks while managing the lifecycle of their expensive tooling assets, it is highly likely that OEMs will find partners that better align with their corporate strategy of digitization.

Watch this MMT Chat to learn about this trend and determine if you want to be part of this trend to new business opportunities or not?

For the full quick chat, watch above, and for more MMT Chats, click here.