The Digital Edge: Rethinking Your Digital Strategy
We live and work in a fast-moving, increasingly interconnected and digital world. With the advent of the pandemic, the need for digitalization and technological advancements was significantly accelerated. We saw major developments in 2020 and 2021 that have greatly impacted the business world, particularly the manufacturing sector, and with more advancements to come in 2022.
It is not a stretch to state that technological advancements in manufacturing — as well as technological deficiencies — not only have changed the way we as individuals live and do business, but also have caused massive effect on a global scale. Case in point: the current state of our supply chain system globally. Not only have major manufacturers’ key KPI’s (i.e., OLE, OEE) virtually collapsed over the past couple of years, their just-in-time manufacturing models also failed to fulfill massive pandemic-driven demands. Such deficiencies have created global ripple effects on the economy and on you and I as consumers, with enormous consequences.
All the more reason to continue our passionate pursuit of innovation that produces solutions to major problems affecting the manufacturer and their supply chain. As a SaaS company focused on providing software solutions to facilitate and accelerate the digital transformation of businesses in the global manufacturing sector, we have witnessed our customers and partners reconsidering their overall digital strategy post pandemic era, significantly expanding their use of technology and accelerating their digitalization efforts.
Following are three takeaways from our experiences with our customers and partners who are lowering barriers to digital disruption and paving the way for more rapid and technology-driven changes:
- To survive and thrive, manufacturing businesses are rethinking the role of digital technology in their overall business strategy. They must ask themselves, “How can we effectively leverage digital technologies to conduct business at the breakneck pace that is now required to compete and win?” Keener insights into their operations can create globally consistent operation metrics, resulting in additional cost reductions, productivity improvements, a significantly better profit margin, and a leg up on the competition.
- Competitive manufacturers are not afraid to move out of their comfort zones, transitioning from traditional competencies into less familiar territory, where new products and business models are innovated and rapidly produced. For example, auto makers that were previously differentiated, in part, by the quality of their engines are now slowly transitioning their end product to “computers on wheels,” which necessitates that they now refocus to differentiate themselves through technology and software.
- Automation, quality improvement and operational efficiency are worthy initial goals of digitalization, but accelerating speed of innovation may be your greatest achievement.
We have seen our manufacturing clients in Pharma, F&B, Auto and Renewables leverage Decisyon’s Digital Factory suite of applications to digitalize their entire plants (i.e., literally from raw material inventory to shipping the finished goods) and deliver better Analysis, Diagnostics, Monitoring, Prediction and Optimization of their entire manufacturing value chain.Almost every one of these clients started their digitalization projects with their initial focus and goals on automation, quality improvement and operational efficiency. However, they realized a major serendipitous benefit of digitalization was how quickly they were now able to respond to customer and market demands, to rapidly improve existing designs and to innovate new products and services.
Innovation through digitalization is now a key competitive advantage. Digital technology is now, more than ever, a strategically vital competitive differentiator, not just for improving productivity and efficiency but also for speed of innovation in delivering new products and services to the market.
Tens of thousands of users in industrial conglomerates rely on Decisyon’s production-tested software technologies to connect all of a factory’s moving parts, gathering and analyzing sensor and business data, gaining a holistic view of the factory through creation of a digital twin, obtaining real-time insights, and predicting and prescribing actions to prevent down time, resulting in smarter decisions and a more efficient and intelligent digital enterprise that continually increases its speed of innovation and elevates customer satisfaction.
Read the use case detailing how our global manufacturing customer is using Decisyon’s software to connect over 50,000 users in 196 plants globally to collaborate, make decisions and solve problems.