New information technologies such as Internet of Things, predictive analytics, wireless, additive manufacturing, cloud computing, mobility, and 3D visualization have been getting a lot of attention in the industrial community as each has the potential to disrupt and radically change the way companies do business. Still, most industrial enterprises tend to be conservative and slow to embrace new information technologies.
This go-slow strategy, however, can be far riskier than anticipated. New information technologies may disrupt not only what happens within a plant or facility, but entire business processes throughout the supply chain and across the value network. The business environment is increasingly dynamic and volatile. New business models such as “Industry 4.0”, “Industrial Internet”, “Connected Manufacturing”, and “Collaborative Value Networks” are emerging. In addition to a host of potentially disruptive technologies entering the marketplace, companies must also face rapid changes in government regulations, energy and raw materials availability, markets, and competition. By deploying leading edge information technologies, today’s companies can thrive.
New competitors in new markets, unencumbered by legacy systems, may leapfrog to the latest technologies and, based on the new capabilities provided, serve their markets in completely new ways. Existing competitors may seek to leverage technologies to attract your customers away with better products and services. Customers will soon expect products themselves to be more intelligent (consider the advent of the “connected car” and the “self-driving car”) and accompanied by a portfolio of software and services from manufacturers. Systems need to be adaptable and ready for business change.
Information driven digital enterprises leverage newer technologies to achieve agility and sustain a competitive edge. Information driven companies take a holistic view of the production plant’s position within an extended value network. With this perspective, they apply information technology broadly to improve or replace business processes. Information technology has matured to the point where a host of new possibilities can be considered. The latest set of disruptive technologies only amplifies that trend.
What strategies can industrial enterprises adopt to help position them to take advantage of the latest round of technology changes while prioritizing their investments wisely? Join us at the Eighteenth Annual ARC Industry Forum to learn from your peers how an information-driven strategy can better position you to succeed and determine how you can best approach critical technology decisions.
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