The disruptive opportunity of the Internet of Things
The manufacturing industry is undergoing its most profound upheaval in decades. Disruption is coming in many forms, including pressure from cheaper overseas imports, currency fluctuations, increasing regulation and compliance mandates, and skilled labor shortages. But disruption often fosters opportunity – the chance to embrace new solutions and change the course of business. Those manufacturers that recognize and capitalize on these so-called disruptive opportunities stand to come out on top. One such disruptive opportunity is the raw power of the Internet of Things (IoT).
IoT enabled solutions – and by that we are referring not just to your manufacturing equipment, but also the products you build – can help to improve efficiency, extend the life of assets, reduce the risk of failure, ensure consistency, and improve your ability to meet customer expectations and demand. To compete, differentiate, and win in this new IoT world, you must be ready to collect, analyze, and capitalize on the data now being generated by customers, suppliers, and the products themselves.
Implementing a next-generation business management solution is the best way for manufacturers to improve and increase their efficiencies, and realize the benefits of the IoT. By adopting faster, simpler and more flexible business management solutions, manufacturers can keep well ahead of the huge changes that are happening right now across a range of industries, including manufacturing.
Manufacturers need to understand that improvements in efficiencies will only come when they think outside the box and embrace the notion that disruptive technologies are not just good for their business, but will also help improve the outcomes in a sector that is in a continual state of flux.