A CIO's Guide to Industry 4.0 - Infiniti's Latest Article Reveals the Key Steps for Developing the Right Digital Capabilities
Infiniti Research has recently announced the completion of its latest article on key steps for developing the right digital capabilities.
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Industry 4.0 is the next phase of digitalization in the manufacturing sector that is driven by factors including the proliferation of data volumes, growth of connectivity and computational power, and key advancements in manufacturing innovations. Although they are still in the early stages of development, smart factory and industry 4.0 have already begun transforming manufacturing.
By embracing industry 4.0, manufacturers can gain much more than just extending their digital reach and or selling new varieties of products and services. Industrial automation can increase productivity and performance and also bring down the overall production costs. Another major benefit of industry 4.0 is that it will greatly promote globalization through worldwide supply chains and sensor networks.
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Developing the right digital capabilities for becoming a manufacturing 4.0 organization requires a strategic step-by-step approach. This article outlines the key steps critical to success:
Evaluate existing capabilities with expectations: CIO's must begin by evaluating their existing technological capabilities and compare them with the digital maturity that they expect to achieve. Prioritize measures that directly align with the organization's overall strategy and will most likely create better business value. It is also vital to communicate and get commitment for the measures that are chosen for not just the top leadership but also ensure that it is evident to people across the organization who are integral to the execution.
Embrace digital capabilities: A company can encounter several roadblocks in their journey to embrace digital transformation. Data is critical to make the right business decisions and adopt feasible strategies. Combine data from different verticals of business including logistics, QC, and engineering functions and use this to analyze new methods to attract customers. Advanced technologies such as real-time analytics can be used to attract customers and fully capture the potential of industry 4.0. Actively understanding customer behavior and orchestrating a distinct role for your organization within complex ecosystems will be the greatest breakthrough to successfully adopting industry 4.0 capabilities.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:https://www.infinitiresearch.com/about-us