The way people presume digital transformation varies significantly. For some, it is all about transforming the manual to automated processes, while it is utilizing and managing information wisely for making fast and accurate decisions. Be whatever digital transformation brings to the table, it is changing the face of the manufacturing industry, remarkably. According to PwC, out of 2000 manufacturing companies, 86% expect to secure simultaneous gains from both lower costs and added revenue from their digitization efforts in the next five years.
The manufacturing industry is moving away from legacy enterprise applications as they understand that their market is changing and so are consumer behaviors. With the option to buy from all over the globe and compare products with different vendors, consumers now lookout for investing in a company that delights them with innovative products and offers amazing customer satisfaction.
Manufacturers are adopting advanced technologies like cloud, mobile, the Internet of Things (thanks to digital transformation services and solutions), this shows that they are shifting their focus from business applications to critical data that drives them.Understanding that turning this data into valuable information is the key to success, companies have started to adhere to an integrated approach from isolated processes and obsolete data to manage and utilize information smartly for beating the gripping competition.
In the new age of manufacturing, leaders have started to realize the importance of cyber-physical connectivity, utilization data, and digital processing for generating greater revenue.
Here are some of the potential advantages of Digital Transformation in Manufacturing.
Accelerated ProductivityThe utilization of IoT and sensors in the manufacturing production floor has helped the leaders to digitalize the process and monitor machine, human performance. The data obtained from the devices help the operators and supervisors identify the machine performance and efficiency in real-time. This data again will be used to prevent maintenance/repair costs.
Also, the digital production floor enables the operators to record and transfer data on-the-go. The entire complex process is simplified and this helps in accelerating the productivity of both the humans and machines on the floor, leading to improved growth and RoI
Integrated dataSiloed data always pose a challenge to decision-makers and seeing them in one place doubles their pain. The evolution of advanced solutions like AI, machine learning, IoT, enterprise apps have enabled the enterprise heads to integrate data smartly with a centralized dashboard to make faster and better decisions.
From the above discussion, it is evident that transforming the manufacturing landscape with Industry 4.0 solutions accelerates productivity, improves performance, and ensures faster decision making, contributing to substantial RoI.
