That which does not get measured does not get managed. The manufacturing and process industry of today is taking this more seriously than ever. Since the earliest days of manufacturing, factory operators have quantified various parameters like processes, input, output, efficiency, inventory, wastage etc. Tracking such key metrics has helped them in finding underlying problems,...
“Without big data analytics, companies are blind and deaf, wandering out onto the web like deer on a freeway.” ― Geoffrey Moore, Author of Crossing the Chasm & Inside the Tornado It is statements like these that inspire fear and uncertainty amongst businesses today. Industries like media, retailing, banking, telecom, travel have already been substantially...
“Industry 4.0 is more than just a flashy catchphrase. A confluence of trends and technologies promises to reshape the way things are made.” - Cornelius Baur and Dominik Wee, McKinsey & Company The concept of the Industrial Revolution has been around for a long time but suddenly it is again a trending topic. Manufacturing industries...
The industry today is experiencing a technological revolution – be it big data analytics, internet of things (IoT), or artificial intelligence, exposing industry to new opportunities. On the flip side, automation and integration has also exposed the industry to new vulnerabilities and threats, and the Oil and Gas industry is no exception. As per ABI…
To stay competitive in a global market, organizations need to strive to change their digital landscape to the characteristics of Digital Transformation, which implies the adaptation of a Digital architecture that includes integration of the entire value chain and breaking of silos across the organization. With increasing adoption of digital lifestyles by consumers, it is…
Manufacturing has emerged as one of the high growth sectors in India. India is expected to become the fifth largest manufacturing country in the world by the end of the year 2020. With a strong focus shown by the government towards enhancing the manufacturing sector of India with an ambitious goal of increasing the industry…
Overview “Today 83% of Indian manufacturing industry lies in the ‘Business Digitization’ phase, and is yet to reach the ‘Tipping point’ for ‘Digital Transformation’ – which only commences after the Process Digitalization stage ”– CII-GS Lab Report The Indian manufacturing industry is gearing up to increase its digital footprint to achieve higher efficiency & increased…
Though technology has helped us build smart systems or products, it can’t prevent them from breaking down. However, as long as we know when, where and how things will break, we can minimize losses and guarantee quality customer service. As a result, successful manufacturers today leverage the power of digital transformation to reduce costs, improve…
Step 1- Identifying the right Assets Traditional Vs Digital Manufacturing Let me start by defining the difference between traditional vs digital manufacturing assets Having defined data as a primary asset, a majority of the manufacturing industry today are not able to place data as an asset but more as an afterthought. Data is collected at…
The Digital Journey of a business is determined by when and how a business moves from Digitization to Digitalization to Digital Optimization to Digital Transformation. Yes – these are distinct terms which almost always are used interchangeably. One thing to keep in mind is once the digital journey begins, each element in the digital chain…