How Manufacturers Build the Next Generation Products & Solutions (March 2, 2021)
The world of manufacturing is undergoing a transformation, as are many other industries. Manufacturers need to think and operate in a customer focused manner not only from the research and design phases, but also to consider as a service business models and the collaboration processes required to take advantage of automation efficiencies that will allow them to deliver customized products and solutions based upon what the customer wants and needs.
Many organizations refer to the digital thread, which is about connecting information across department or functional silos in a way that allows other parts of the organization have more visibility and understanding to make better decisions about the product or solution that is in development. As Richard Howells of SAP stated, “Having that holistic view of what a customer demands is a key starting point to drive that innovation so that you are delivering what they want, when they want it and how and where they want it.”
In fact, many manufacturing organizations are already dealing with mass customization and personalization. As an example, consider the complex processes of an industrial equipment manufacturer that is producing a compressor or engine based upon the requested customer specifications. Automation and standardization can be a challenge at that level of personalization. Developing just a product is no longer enough. Industrial manufacturing companies need to create superior customer experiences through tailor-made solutions delivered at scale and as a service. And this opens the door for new business models.
Here is where the Internet of Things (IoT) becomes critically important in propelling the industry forward by providing a feedback loop that brings data and key information from the product or solution that is in market back to the company. Different departments and individuals can then use this information to improve products, solutions, and processes that can drive business value and deliver key business outcomes.
Join Joe Bohman of Siemens and Richard Howells of SAP, along with myself, as we discuss how manufacturers are building the next generation products and services.
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