IDC Manufacturing Insights hosted a web conference “IDC Manufacturing Insights Predictions 2014: Worldwide Manufacturing” highlighting the Top 10 predictions for the year ahead. Featuring analysts Robert Parker, Heather Ashton, Sheila Brennan, Simon Ellis, Kimberly Knickle, Pierfrancesco Manenti, and Amy Rowell, the session provided organizations with insight and perspective on long-term industry trends along with new themes that may be on the horizon. The Predictions web conference series is designed to help company leaders capitalize on emerging market opportunities and plan for future growth.
“The manufacturing industry has an established track record of continuously improving productivity and is at the cusp of a new wave of gains that will dramatically restructure value chains to be closer to demand regardless of direct labor costs,” says Robert Parker, group vice president and general manager of IDC Manufacturing Insights. “This is being driven by an intelligent economy where customers are more informed, talent is at a premium and the time to react to changes is compressed.
“In 2014, companies should put together a set of business initiatives across critical line of business areas such as supply chain, factory operations, product management, and customer experience/aftermarket services, and follow a progression toward the principles of the 3D value chain, the theme for our 2014 predictions.”
Join us daily this week as we reveal all Top 10 predictions for the year ahead, by category. Check the links below for previous predictions.
Product Lifecycle Management
7. Product strategies become increasingly global, multidisciplinary, innovation-based, and customer-focused
“An innovation focus and a customer focus will be at the forefront of product development in the coming years,” says Amy Rowell, research manager with IDC. “In particular, in the coming decade, several key themes will dominate PLM and will have a profound impact on how products will be designed, manufactured, distributed, and serviced.”
Rowell indicates that leaders will:
- Balance “vitality” and “stability”
- Innovation increases in products and materials
- Growing emphasis on “Products as Services Platforms”
8. PLM initiatives will focus on value realization
“Our prediction is that modernized PLM strategies will necessitate deeper and broader PLM system adoption, tighter integration with enterprise IT, and the ability to effectively leverage pillar technologies such as big data analytics, cloud, social and mobile technologies,” explains Rowell. “With this in mind, product lifecycle management will continue to transform from its product-centric roots to having more of a product-as-a-platform and product-as-a-service focus.
“The ability to leverage information will be key, not only to optimize product development but to optimize product performance, customer satisfaction, and service quality. This will become the new normal for PLM.”
Rowell predicts that value realization will happen in two ways:
- Value through depth and breadth
- Customer-led and open innovation — value of social networks
- Industry-specific PLM, packaged offerings — focus on business value
- Visual decision making tools become pervasive, facilitate collaboration
- Value-driven 3D modeling/simulation tools — cloud changes the game
- PLM analytics — deriving value from cost, materials and performance data
- Value through integration
- Drive service revenue (PLM+SLM for supporting product-as-a-service)
- Manage product complexity (PLM+ALM for integrating embedded software development)
- Reduce costs (PLM+ERP for connecting design and procurement)
- Improve manufacturing efficiencies (PLM+MES for integrating design and mfg planning, execution)
- Increases market-driven innovation (PLM+CRM/social networks for improved customer alignment)
About IDC Manufacturing Insights
IDC Manufacturing Insights assists manufacturing businesses and IT leaders, as well as the suppliers who serve them in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing asset intensive, brand oriented, technology oriented, and engineering oriented manufacturing industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world’s leading technology, media, research, and events company. For more information, please visit www.idc.com/manufacturing.