Manufacturing plants and operations around the world are trying to improve performance. In fact, most leading manufacturers say they have adopted some form of “industry 4.0” technology, function or method in their production and operations.
However, in the latest global benchmark as KPMG manufacturing professional work part of a series of interviews, the vast majority of the leading manufacturers admit they have not yet ready to will be fully integrated into the industrial 4.0 lessons the way they view and manage their products.
At KPMG, we believe the ability to connect two aspects – intelligent products and improved processes – is the key to unlocking the true potential value of industry 4.0. In fact, we see industry 4.0 as a forward-looking manufacturer that will fully restructure the traditional business and industry value chain platform and create an unprecedented competitive advantage in the process.
To be clear, this is not just about putting smart things into existing products. This is about using smart technologies and models to create value for organizations, end users, and value chains. Then there is the money and ability to use and maintain value.
If your design team is unable to translate data into insight and real product improvements, it is not worth putting the sensor into your factory equipment or your product; Or if factory operations cannot use machine data to improve plant utilization and improve conversion speed; Or if the capture product performance and maintenance data do not generate new revenue service mode.
Our interviews and our experience show that manufacturers are not bold enough in their efforts to integrate smart products into the industry 4.0 environment. In fact, we think it’s time for manufacturers to rethink their products, their processes and their profits, and they use industry 4.0 as a lens.
There will be great opportunities to exploit and exploit new markets. However, navigation can also be disrupted. For example, the vision of providing a customer usage pattern to a component manufacturer can improve performance, cost management, and customer satisfaction. But it could also mean that sales channels and after-sales services are disrupted when “customer relationships” move further down the value chain. The ones that create value today (the ones that currently control customer relationships and have the product use data) may not be the ones that create value tomorrow.
In this environment, manufacturers need to start thinking about how their smart products fit into their smart operations. They need to seriously consider their current capabilities and operational models, their IT assets and competitive environment, and carefully consider when they can achieve their goals. They need to synchronize their product life cycle and product data with their long-term strategy to achieve measurable progress.
Above all, they need to be bold. At KPMG, we believe that industry 4.0 could lead to unprecedented performance improvements for industrial manufacturers. But it all starts with the right strategic vision and road map.