Below is a preview of one of the articles in the new issue, "Beyond the Assembly Line: Benefits of Tech Trends in Manufacturing" by Mara Garcia:
Beyond the Assembly Line: Benefits of Tech Trends in Manufacturing
The Association of Equipment Manufacturers listed five manufacturing trends to note in 2018; the internet of things, industry 4.0, automation, additive manufacturing, and augmented reality. All of these trends highlight the use of technology to evolve the manufacturing process. Companies now utilize cutting-edge technology such as Artificial Intelligence (AI) and virtual reality to help reinvent and make prototypes. With all these new, innovative advances in technology, what are the tax, accounting, and compliance implications?
As labor costs increase and the threat of tariff wars looms, we are seeing manufacturing companies invest large amounts of capital into technology. Whether it’s the implementation of industry 4.0, 3D printing, or the use of the concept of augmented reality, companies are relying on new technologies to increase their efficiencies without increasing their import taxes, and to help them stay at the forefront of the latest trends in manufacturing. Those who understand the impact of technology on the manufacturing industry and start planning for early implementation will reap the rewards on their...
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KROST Quarterly is a digital publication that highlights some of the hot topics in the accounting and finance industry. Issue 1, Volume 2 covers manufacturing trends and news including cybersecurity, tax benefits and incentives, and technological advances in manufacturing.