The panel, the first of the NAMs new Leading Edge series, was hosted at GEs Advanced Manufacturing and Software Technology Center in Detroit, Mich. Leading Edge is a new, yearlong series of events convening manufacturing executives from companies of all sizes together with business luminaries, thought leaders and experts.

WASHINGTON--(BUSINESS WIRE)--The National Association of Manufacturers (NAM), in partnership with General Electric (GE) (NYSE: GE), PTC (NASDAQ: PTC) and ServiceMax, hosted an executive forum on the role the Industrial Internet of Things (IIoT) has in todays modern manufacturing facilities.

The panel, the first of the NAMs new Leading Edge series, was hosted at GEs Advanced Manufacturing and Software Technology Center in Detroit, Mich. Leading Edge is a new, yearlong series of events convening manufacturing executives from companies of all sizes together with business luminaries, thought leaders and experts.

NAM President and CEO Jay Timmons issued welcoming remarks before introducing a panel of manufacturing leaders.

"The IIoT is infused into virtually everything in our lives and, in turn, is transforming todays manufacturing—from processes to products," said Timmons. "By 2020, the Internet will link together tens of billions of objects, which is why, through Leading Edge, we are pleased to convene true industry leaders who are paving the way in innovation and thought leadership."

"The IIoT is the definitive technology trend of our time, but how can companies use this technology to transform their business and create a new competitive advantage?" said Jim Heppelmann, president and CEO of PTC. "In most companies Ive talked to, there is an opportunity to differentiate their products, but in every single case, there is an immediate opportunity to transform the way they create, operate and service their products. Companies are doing it blindly today, and you would do it so much differently if you had a closed-loop relationship through that product and the data it generates."

"The business implications of the IIoT are massive and, if approached with the right strategy, can drive significant returns," said Dave Bartlett, chief technology officer of Current, powered by GE. "Today there is great opportunity to marry efficient energy solutions with data-capturing sensors and software to truly optimize our environments, including in the industrial sector."

"The IIoT fundamentally changes the relationship between manufacturers and their customers. It creates new opportunities, markets and value," said David Yarnold, CEO of ServiceMax. "At ServiceMax, we lead the industry in innovating mobile and cloud technology for field service, and with the IIoT, the potential is even greater."

Bartlett, Heppelmann and Yarnold all presented at the event. Other panelists included Paul Boris, head of manufacturing industries, GE Digital, and Michael Porter, Harvard Business School professor and noted IIoT expert.

Learn more about how the IIoT is changing manufacturing by clicking here.

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The National Association of Manufacturers (NAM) is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12 million men and women, contributes $2.17 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the National Association of Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.