Behind the scenes of the world's leading industrial products companies, a profound digital transformation is now underway. The industrial manufacturing sector is no exception. Companies are digitizing essential functions within their internal vertical value chain, as well as with their horizontal partners along the supply chain. In addition, they are enhancing their product portfolio with digital functionalities and introducing innovative, data-based services.
Seventy-eight percent of UK vendors expect the Internet of Things to have a significant impact on their ability to gather customer insights data across the supply chain. Many go so far as to say that it will also change the way they think and operate as an organisation.
Traditional Lean and Six Sigma practices are insufficient to address the complexities of modern industrial manufacturing, and companies are turning to "smart operations," which use pervasive data collection, advanced analytics, technology investments and deeper collaboration with partners to prepare their value streams for the next industrial revolution.
Barcoding, Inc. has launched its Active Asset Tracker (AAT). The tool draws on the internet of things and Bluetooth Low Energy beacons to provide companies with near-real-time visibility of physical inventory.
ARI Fleet Management manages 1.2 million things with wheels across North America and Europe, from telephone company trucks to corporate vehicles to railroad maintenance trucks.
It's a big and transformative phenomenon worldwide, so of course it has a buzzy lexicon all its own. You can call it whatever you want - Digital Operations Technology, Industry 4.0, Industry of the Future, The Fourth Industrial Revolution, Smart Manufacturing - but you can't ignore it. MESA International offers a concise definition for this wave of change: "Smart manufacturing is the intelligent, real-time orchestration and optimization of business, physical, and digital processes within factories and across the entire value chain."
A report on customer's mobile experience with large companies has revealed that only 21 percent of supply chain companies ranked their company's mobile presence at 90 percent or above.
Big data has the potential to be both friend and foe. The Boston Consulting Group conservatively estimates that trusted uses of big data and advanced analytics could unlock more than $1tr in value annually. However, recent BCG consumer research has uncovered a previously hidden obstacle to successfully unleashing this enormous opportunity: data misuse.