Advances in technology over the last decade has paved the way for digital evolution, with many organisations putting digital at the core of operations.
In a world of ‘Big Data’, it has become more important than ever before for those operating within the manufacturing industry to utilise technology effectively, particularly where monitoring efficiencies and productivity has become crucial, with many looking to developments in Industry 4.0 as motivation for acceleration. As many organisations are taking steps towards digital transformation, John Roberts, director of Idhammar Systems, explains why businesses must streamline their approach to digital within their manufacturing practices in order to create an ecosystem which is sustainable but also beneficial for both businesses and customers alike.
Invest in the right technology
Not all technology will be the right fit for your business and as more emerging technologies are introduced, it’s crucial to separate the necessary from the so-called ‘next-big-thing’. It’s important to strengthen the basic elements of the whole organisation – remember the route to improvement cannot be a one-size fits all approach. As such, always do your research and pay due diligence to evolving technology and ensure it’s the right fit for your organisation. There’s a lot to digest and according to Forbes, cloud services, analytics, security and management tools are set to be the biggest planned investments in technology across the next several years. By modernising these essential technology tools, it can help to future-proof your business, protecting it (and you) from any cybersecurity issues and also reduce any potential system downtime, minimising threat to profitability and overall efficiency levels.
Consider the whole picture
It’s unlikely that any business will be able to establish a comprehensive digital ecosystem in one fell swoop – it’ll require a range of elements in order to do so effectively and this cannot be expected to happen overnight. Plus, your team will need effective systems training in order to fully integrate any new processes into day-to-day operations. However, in the manufacturing sphere, you can look to implement digital measurement to understand data around profitability and efficiency levels – after all, every second counts on the production line. For example, data can help to better forecast product demand by 46% and can provide support to customers more quickly. Increasingly so, data is also available through mobile devices or remote access, meaning that data can be accessed anytime, anywhere, making any improvements or issues handling more streamlined and accessible. This will become increasingly important as 5G becomes more prominent, with 32% of users stating that they would look to adopt this technology.
As digital ecosystems continue to build momentum and change the business landscape, demonstrable value is ever-more important, especially when justifying cost within any organisation. Accenture recently highlighted that by transforming and flourishing with digital in mind, it can help to create benefits for customers and partners alike. Increasingly so, ecosystems are driven by evolving customer demands, particularly for those searching for more intuitive, real-time, integrated solutions. By addressing these needs, not only will it result in added value, but it can help companies expand their market share by introducing solutions tailored to customer pain points.
The way that we do business as a whole is changing and particularly in the business of manufacturing, Industry 4.0 is becoming increasingly common and necessary in order to meet high production volume demands. Although still relatively in its infancy in the sector, those who invest in digital ecosystems and overall digital transformation are likely to be better prepared for the ever-evolving business landscape that we are operating in. This is particularly true in the manufacturing sector where change has been relatively slow for the most part, regardless of the need for increased efficiencies as competition levels are continuing to rise. However, transformation will not happen overnight, and an ecosystem needs to be nurtured and developed in a way that is tailored to the needs of your business, with the right training in place to ensure your team know how to implement it effectively for maximum return on investment.