Manufacturing the Future: Industry Leaders Emerge as Technology Investment Increases
by Liz Densmore, Director of Marketing at LEC, Incorporated
The days of work crews making the rounds at all hours to get accurate readings of plant floor process management machines are gone. Technologies stemming from the Industrial Internet of Things (IIoT) are taking the place of manual machine management, launching the Industry’s greatest change in more than 100 years and revolutionizing the plant floor landscape. The way we build and deliver goods, products and services will never be the same.
The result of this fourth industrial revolution, often referred to as Industry 4.0, enables manufacturers to produce products faster, more consistently and with greater value. As we continue to usher in this complex, new era of production, it has become vital for manufacturers to recognize IIoT’s role in reshaping the Industry by its creation of new revenue streams and revolution of business models.
It is evident that those manufacturers who understand the unique priorities of their customers and have a willingness to modify their operations accordingly to meet these demands by investing in the technology are quickly emerging ahead of their competitors.
Customers have an infinite number of options today, making it paramount that manufacturers understand the value of IIoT technology and take the necessary steps to upgrade processes in order to maintain current customers, gain competitive edge and sustain future growth.
Facilities that have already shifted to smart technology are reaping the numerous benefits of IIoT-perfected processes resulting in the production of higher-quality goods, with the added rewards of reduced labor costs, increased efficiency, global access to actionable process data, and demand attainment.
“And just like any company that blissfully ignored the Internet at the turn of the century, the ones that dismiss the Internet of Things risk getting left behind." Jared Newman, Fast Company
As the IIoT evolution continues to unfold and expand, those willing to implement technology beyond the current industry standard will continue to increase the competitor gap and distinguish themselves as market leaders. Those waiting to embrace IoT technology as “me too” adaptors are at risk of being less competitive both on the plant floor and in the market in which they compete.
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