Why servitization is something your manufacturing business needs to consider

by   |    |   2 minutes  |  in Business Agility, Digital Transformation, Manufacturing, Process Manufacturing, Strategy

You may think that servitization will never apply to your business, but there’s a reason why it’s occurring across many different sub-segments. If you are a manufacturer, then you may have already heard the term “servitization” and ticked it off on your buzzword bingo sheet and moved on with your normal days’ work. If you…

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Data scientists: the who, why and how

by   |    |   5 minutes  |  in Business Agility, Business Technology, Creativity & Innovation, Manufacturing, Research, Strategy

Not enough is currently being done to create and nurture the talents required to create a pool of data scientists. As manufacturing becomes increasingly digitized, the need for well-trained, capable data scientists will only increase. As an industry, manufacturing has come a long way in embracing new technologies such as big data, the internet of…

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manufacturing industry predictions

by   |    |   7 minutes  |  in Business Technology, Creativity & Innovation, Manufacturing, Process Manufacturing, Strategy

Bridging the skills gap and boosting services will be top priorities for manufacturers in 2017. And IoT? Today, 50% of the costs of IoT projects go on integration. 2017 will see many manufacturers realizing they already have IoT solutions—now they need to integrate them better to leverage the full benefits. Antony Bourne, IFS Global Industry…

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Industry 4.0

by   |    |   4 minutes  |  in Business Technology, Creativity & Innovation, Manufacturing, Process Manufacturing, Strategy

While Industry 4.0 does revolve around intelligence gathered from a number of places, it spans more than just IoT. Over the past 10 years, 70% of companies on the Fortune 1000 list have vanished. Although this statistic may invoke fear, what it should do is demonstrate the importance of capitalizing on change instead of fearing…

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Servitization

by   |    |   3 minutes  |  in Creativity & Innovation, Manufacturing, Process Manufacturing, Strategy

Servitization offers a viable method of boosting growth for manufacturers’ businesses and the industrial sector overall. The UK is currently the 11th largest manufacturing nation in the world and the sector has increased by 1.4% a year since 1948. However, industrial manufacturing is a highly competitive industry and those working in the sector are constantly…

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IM blog post image

by   |    |   2 minutes  |  in Business Agility, Business Technology, Creativity & Innovation, Digital Transformation, Manufacturing

A recent survey showed 88% of companies said that they were undergoing digital transformation, however only 25% understood what it was. As a manufacturer, the term digital transformation may be foreign, but in fact, manufacturers have been using digital technologies for many years already. If you think about it, EDI has been commonplace for a…

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Success Just Ahead

by   |    |   3 minutes  |  in Business Technology, Manufacturing

Choosing an enterprise resource planning (ERP) software package to run your industrial or high-tech manufacturing business is one of the biggest decisions that you are likely to make for your company – and one that should not be taken lightly. Whatever your decision may be, it will have a huge impact on your workload, your business,…

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Asset Management

by   |    |   4 minutes  |  in Manufacturing, Process Manufacturing, Research, Strategy

At the end of 2015, IFS carried out a global survey of over 1,000 IT decision makers from companies in 12 countries. The survey aimed to gather insight on the subject of change in businesses: its relevance, impact and drivers. The results revealed a number of interesting trends across different vertical industries and here, Antony…

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Manufacturing

by   |    |   3 minutes  |  in Business Technology, Manufacturing

IFS’s Global Industry Director for the manufacturing sector, Antony Bourne, predicts how three key trends will be impacting the industry during 2016. The number of smart machines used in manufacturing will double in the next three years The use of smart machines in manufacturing is growing rapidly; by 2018, 50 percent of the fastest growing…

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