The industry is full of terms like Engineer-to-Order and Mass Customization . These used to only apply to consumer products, but within the past several years there has been a noticeable change in customer expectations. Every industry is subject to the expectation that a consumer can go to a ... Read more
Every business needs to keep growing by innovating or risk seeing their core markets shrink by 60% or more in three years due to rapid advances in digitization according to IDC. Digital technologies are enabling entirely new ways of optimizing existing business strategies & models and grow ... Read more
Looking for new ways to grow revenue and escape commodity-like price wars, manufacturers are aggressively pursuing new business strategies. To keep growing in 2019 and beyond, every manufacturer needs to transition away from being 100% dependent on transaction revenue and start growing new busi ... Read more
Manufacturers growing the fastest today approach digital transformation entirely differently than their slower-growing peers. A recent survey of 250 North American manufacturers by Configit found the following:
Manufacturers growing 10% a year or more excel at orchestrating PLM, CAD, ERP, and ... Read more
Recognizing that customers are co-creators in the creation of new products and want the freedom to define custom configurations at a competitive price, manufacturers are quickly adopting digital transformation. Defining and excelling at a digital transformation strategy needs to start with the ... Read more
Manufacturers are predicted to rapidly increase spending on digital transformation of their operations from $152B in 2017 to $479B in 2023, attaining a 21% Compound Annual Growth Rate (CAGR) according to Statista.
Digitally transforming factories are revolutionizing manufacturing by enabling a ... Read more
Closing the gaps that exist between customers’ changing needs for configure-to-order products and manufacturers’ ability to deliver them is where the Industrial Internet of Things’ (IIoT) greatest opportunities for growth are today. Manufacturers are transitioning from product-driven revenue to ... Read more
Bottom Line: IoT lessons learned on the shop floor transfer to new product development and are fueling the next generation of smart, connected products. Capgemini predicts by 2020 47% of all products will be IoT-enabled, capable of supporting new product-as-a-service business models.
Accordin ... Read more
Discrete Manufacturing, Transportation and Logistics, and Utilities will lead all industries in IoT spending by 2020, averaging $40B each.
Bain predicts B2B IoT segments will generate more than $300B annually by 2020, including approximately $85B in the industrial sector alone.
The Internet of ... Read more
85% of manufacturing executives understand the criticality and support digital transformation initiative sand development in their companies according to a recent study from Jabil.
18% expect digital transformation to accelerate faster than predicted across manufacturing due to the many custome ... Read more