Tomorrow’s manufacturer will be smart. According to a PwC study of 2000 manufacturers, investment in digitalisation will be $950 billion by 2020. KPMG estimate that Industry 4.0 (using the Internet of Things and cyber-physical systems to collect data that can be used by manufacturers and producers) will be worth $5 trillion by 2020.
Change is coming, and fast. The big question: are you ready?
The results from Frost & Sullivan’s Manufacturing Leadership Council Survey (April 2018) would indicate not: 97% of manufacturing leaders believe that the emergence of cyber-physical systems, digitisation, and information-driven factories will require a substantially different approach and set of skills on the market of manufacturing leadership. 79% say leaders will need digital acumen; they need to understand and use digital technologies and how to apply them to advance manufacturing.
How do you use insights from data to drive your strategy? How do you do what you do as a service? How do you create, spread and embed a smart manufacturing mindset?