It's time to embrace the benefits of participating in the digital revolution! Manufacturing Business Technology said, "Given the incredible potential software creates for physical goods, time is quickly running out for manufacturers that have yet to join the digital revolution. With this in mind, manufacturers should be investing in digital business models and all of the opportunities for sustainable, ongoing revenue and a better customer experience that they can bring." Make sure to pay extra attention to customer retention and improving experiences throughout this transition.
Today’s new era in manufacturing goes by many names: Industry 4.0, digital factory, the Industrial Internet of Things (IIoT). Whatever term you use, this digital revolution is changing the manufacturing industry at lightning speed, compelling leaders to create new, digitally-driven business models that unlock new revenue, improve customer experience and boost competitive value. In fact, according a Fujitsu report studying the U.K. manufacturing sector, 71 percent of executives say they need to innovate faster to stay relevant. Understanding the emerging landscape is a critical first step that can help companies not only adjust to the new reality, but succeed and thrive in it. Here are three challenges facing manufacturers in the age of Industry 4.0 and how to overcome them. Read More