In today’s world of interconnected everything, too many manufacturers are finding themselves a day late and a dollar short when it comes to quality, on-time delivery, and inventory management. 15% of all US companies identify lack of knowledge about suitable providers as their biggest obstacle - Business leaders need to understand which technology solutions address their core business problems as well as the right criteria for evaluating solution providers, 21% of all US companies are facing a talent war as their biggest obstacle in transformation - companies need to build capabilities in-house in order to implement new strategies and tactics; experiential learning is the most effective way to build capabilities quickly. A Smart Roadmap to Manufacturing 4.0: Transforming Manufacturing Data into Business Value. Learn More! Manufacturing Example. Digital transformation holds the potential to transform every manufacturing operation. Networking your machines and ensuring that all production data can be captured is one of the most essential capabilities for real-time analytics. These businesses include oil and gas original equipment manufacturers (OEMs) who produce the equipment the industry relies on. The book illustrates many real-world experiences with companies across the process industries that are going through their own digital transformations. Industry 4.0: Hype or Hope? MachineMetrics is driving efficiency by more than 20% on average for our customers and we are proud to be developing the future of manufacturing alongside them. Digital transformation can help manufacturers to improve your competitiveness in the digital world by – Utilizing the data use in operations, so manufacturers can utilize data more efficiently by feeding it to B2B e-commerce, ERP, CRM, finance, warehouse systems and more. These workflows start with insights derived from machine monitoring data which act as triggers to... 3 Ways Contract Manufacturers Use IoT to Boost... Social and environmental consciousness among OEMs is on the rise and for good reason—62% of GenZ buyers prefer to buy from sustainable brands and the majority will gladly pay a premium up to 10% for guiltless products. To set a digital transformation on the right course a company must place it at the core of its agenda, and understand the magnitude of that undertaking. The culminating project provides a tangible element to include in their professional portfolios that showcases their knowledge of Industry 4.0. Submit a brief synopsis on the background of your company, your successes and your plans for long-term growth for review by our Editorial team who will contact you to discuss the project further. Digital transformation … Here are a few areas of focus for any company to consider when building out their roadmap: → Organization: Does your team have the right people in place to implement new technology? digital ways of working and undertake a digital transformation. Deloitte Consulting LLP’s digital transformation practice has advised clients in the technology sector (e.g., hardware and software) as well as those in the industrial sector (e.g., manufacturing, construction, and energy) to enter and compete in new growth areas. No matter how old your infrastructure is, or how familiar you are with real-time data solutions, the power of modern real-time data analytics and predictive maintenance allows organizations to achieve substantial value and returns in the form of better work processes, increased productivity, lower controllable costs, and more efficient collaboration inside and outside an organization. Your KPI’s will help you assess which tool will allow you to capture the information you are looking for that best fit your company’s needs. Understanding how to leverage digital transformation to optimize the evolving tax code can be a valuable tool for manufacturers. Lack of knowledge about relevant tech partners- 15% of all US companies identify lack of knowledge about suitable providers as their biggest obstacle - Business leaders need to understand which technology solutions address their core business problems as well as the right criteria for evaluating solution providers, Difficulty managing and attracting digital talent- 21% of all US companies are facing a talent war as their biggest obstacle in transformation - companies need to build capabilities in-house in order to implement new strategies and tactics; experiential learning is the most effective way to build capabilities quickly. 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