From Thomas Insights –
Taking advantage of new manufacturing technologies, microfactories are small, highly automated factories. In addition to requiring less space, the microfactory doesn’t need as large of a labor force and can use less energy and materials.
The microfactory business model is founded on digital technologies. Automation, augmented reality software, laser cutting, online workflows, and other new innovations make it possible for manufacturers to change the way they work. With faster processing, digital printing, and computerized cutting and dispatching, the microfactory is more agile. With the ability to turnaround products more quickly to meet demand, manufacturers are only producing products after they are sold.
These factories can have a smaller footprint as they are focused on in-demand manufacturing instead of mass production, which lets the factory minimize stock and reduce exposure to risks such as:
Speed to market
Value of the product stock
Consumer relevance
Cost of unsold inventory
