There are a number of component parts to the definition of Advanced Manufacturing:
- It consists of capital intensive industries with complex assembly methods.
- It is focused on creating marketable knowledge-based goods and services.
- It is characterised by a wide range of high-technologies involved in manufacturing, leading to improvements in terms of new product properties, production speed, cost, energy and materials consumption, operating precision, waste output reduction.
- In the case of the Irish economy it represents a broad group which covers Bio Med, Pharma, ICT, Semi-conductor manufacturing and other industries.
- It requiring significant investment in intellectual capital. The reliance on capital equipment means nearly the same amount of staff is needed whether it is busy or slow.
- It is export oriented in high volume.
- Advanced manufacturing facilities are often suited to produce more than one thing – advanced manufacturing is not one size fits all. The products are complicated and the processes are unforgiving, demanding high levels of intellectual capital, and relentless pursuit of being best in class.
Do you have any thoughts on what other elements could be added to this definition?