Global disruptions and adverse events are all around us. Whether it’s shifting market trends, a shortage of raw materials, or a sudden increase in demand, manufacturers have to be ready to pivot to meet the needs of the new digital consumer.
Savvy consumers want personalized experiences, and this requires technology-enabled visibility into all processes, from your supply chain to customer service. However, manufacturers may not be ready to deliver on what customers now expect.
According to a recent IDC InfoBrief, “50 percent of all industry leaders expect to be disrupted by digitally-enabled competitors by 2023. And 25 percent of manufacturers say that the biggest gap in their operations is the lack of digital tools to adapt to changing market conditions.”
Connected Intelligence can transform your manufacturing: next-generation analytics and artificial intelligence (AI) can provide insights into suppliers, customers, connected machines, and network partners.
Operational Resiliency is Key to Success
Your organization operates in a disruptive environment. The only way to succeed is to move from haphazard reactivity to proactive predictability. With Connected Manufacturing, you can gather data for decision-makers and use this data to predict events and automate processes.
Without visibility into your processes and operations, you cannot improve them. And it’s not enough to just act on insights. You have to know where and how to act to best improve and optimize your operations. That’s where analytics and manufacturing intelligence come into play.
IDC estimates “coupling analytics and digital technology to extract broader financial insights will be worth 3–5 percentage points of incremental revenue as well as 2–3 margin percentage points for industry leaders within three years.”
3 Steps to Accelerate Your Transformation
- Align your company goals to converge IT and operations technology and support the digital needs of resilient decision-making in operations
- Identify processes that are highly manual and redundant
- Assess the high-risk areas of your operations and supply chain
All important players in your company must agree on the right path forward before you can truly digitally transform. Once there is significant support for IT and operations, then you can identify the processes that should be automated for better efficiency. You can create a resilient decision-making system by analyzing your high-risk areas and automate decision-making for those critical moments.
With the right technology partner, you can face any challenge the market throws your way. To learn more about how you can benefit from Connected Intelligence in Manufacturing, check out this infobrief from IDC.