Preparing for the Future: The Impact of Metaverse on Manufacturing

The Metaverse has the potential to fundamentally transform the way we interact with technology and with each other. As per a recent study commissioned by Meta, the technology could contribute as much as $760 billion or about 2.4% to U.S. annual gross domestic product (GDP) by 2035. By creating immersive and engaging virtual experiences that blur the line between the real and the digital worlds, its impact could be significant, touching many areas of our lives, including work, entertainment, education, and more.

At its core, the Metaverse is an immersive and interactive environment distinguished by its ability to take real-world experience into a 3D virtual space. The confluence of technologies can enhance operational efficiencies and transactions and create new market avenues.

No surprise, then, that several organizations are already foraying into the domain to revolutionize their business models and redefine consumer experiences. In the manufacturing sector, a metaverse-based approach may be compared to the strategy used by Shopify, which has democratized e-commerce and streamlined relationships between suppliers and retailers. When leveraged for manufacturing processes, the Metaverse will concern three primary stakeholders:

• Design owners/companies: These entities use CAD software and other simulation techniques to create factory layouts and the design components to be produced.
• Plant managers and logistics service providers comprise the individuals and companies within the supply chain ecosystem. Their task is to run production processes with minimum friction and short lead times.
• Customers: These are typically the retailers who sell the products and are concerned about the quality of things they store. For a D2C business, they are the final consumers of products.

The service-driven metaverse aspects that can transform the manufacturing landscape for these stakeholders include:

• Rapid production process design: The metaverse ecosystem’s physics-based simulation system simplifies the process of drag-and-drop asset management. This enhances operational efficiency and safety in manufacturing, reducing the need for extensive physical testing.
• More production designs: The Metaverse can simplify access to specialized product content, lowering the barrier to entry for designing low-cost, easy-to-build products using precise measurements and CAD technology to diversify product design.
• Better collaboration in product development: The Metaverse fosters a collaborative community of virtual avatars where contributors can share creative and technical ideas, simplifying product design and getting instant feedback for faster iterations, shortening the manufacturing timeline.
• More control on quality: With detailed 3D designs, the margin of error for manufacturing gets reduced. Engineers can create realistic prototypes of products to be manufactured and minimize the risks to quality control. The return rates for defective units can be minimized.
• Greater transparency for customers: Manufacturing products in the Metaverse provides visibility to retailers and consumers into the supply chain process. Customers can be informed on lead times and potential shipping delays by tracking product design, development, distribution, and sales.

In a nutshell, the Metaverse promises to deliver genuinely immersive experiences. With time, it will increase the scope of customization for manufactured products and allow organizations to decide how to give brand messages through their offerings.

to decide how to give brand messages through their offerings.

Practical steps to optimize manufacturing with the Metaverse

While its benefits look attractive, the Metaverse is still in its nascent stage, and it can become more valuable for the manufacturing vertical if the industry focuses on improving at least five core areas for its usage:

• Warehousing data: Manufacturers often use legacy systems and SaaS apps to organize warehousing data. Integrating inventory management software with demand sensing algorithms can optimize inventory forecasting and provide greater visibility, improving the outcomes of the process.
• Designs based on simulation software: Current design software for simulation is limited, relying on Monte Carlo simulations rather than physics-based models, leading to inaccurate results that fail to account for real-world mechanical errors. Combining essential simulation apps with solid modeling CAD and computer-aided engineering applications can lead to more successful product designs in the Metaverse.
• Social networking fundamentals: Social media has created engaging virtual spaces for friends, followers, and gamers, presenting an opportunity to build a metaverse that delivers value to consumers of fast-moving consumer goods (FMCG) products.
• Cloud infrastructure: With the advent of 5G, low latency solutions will help adequately store products and process designs and record collaboration between different stakeholders.
• Consumer hardware: AR-VR headsets used for gaming and training still need to be commercially viable for large-scale usage in manufacturing plants and floor operations, requiring further development to meet industry needs.

The potential of metaverse adoption in manufacturing

Metaverse tools enable stakeholders to track and monitor manufacturing information in real time, with controlled access for increased confidentiality. This improves the ability of the manufacturer to customize just-in-time and just-in-sequence operations, enhancing critical systems’ reliability and availability. However, the success of metaverse adoption in manufacturing depends on ecosystem development speed and organizations recognizing its relevance for their processes.

Moreover, the ability to ramp up technical skills and address cyber threats are critical factors for adoption. Governments must pass regulatory policies and incentives to encourage the adoption of this new technology. To realize the Metaverse’s full potential, stakeholders must also ensure interoperability, data standardization, and collaboration across the ecosystem. Successful metaverse implementation can ultimately revolutionize manufacturing by streamlining processes, improving efficiency, and reducing costs.

YASH Technologies collaborates with tech firms to offer innovative tools and solutions for companies seeking to adapt to a changing world. To learn more about our Metaverse, cloud, IoT, mobility, and automation tools that can enhance your ability to embrace the impact of the Metaverse, write to us at info@yash.com.

• Metaverse on Manufacturing