Modern Industry 4.0 systems speed up product delivery by unifying processes based on automation and data-driven analysis. Moving to Industry 4.0 is not anymore an option for OEMs, but modernization efforts can place significant strain on resources and budgets, potentially delaying new product development.
Fremont, CA: Modernization is more than a buzzword in manufacturing; it is a survival strategy for established original equipment manufacturers (OEMs) in the age of born-in-the-cloud competition. Innovative technology, such as the industrial internet of things, artificial intelligence, and cyber-physical systems, speeds up manufacturing, enables hyper-demand economics, and minimizes the impact of inefficiencies from the manufacturing floor to ordering processes and across the whole supply chain.
Product innovation and design are two of a manufacturer's core competencies. Parts procurement, customer account management, inventory management, ordering and shipping, and product lifecycle services, on the other hand, all play an important role in brand reputation and customer satisfaction. In today's hyper-demand world, keeping customers happy requires rethinking processes and visibility from the initial order via customer delivery and at every step in between. Customers expect the same high levels of accuracy, transparency, and expediency regardless of product destination as the business world becomes more global.
Modern Industry 4.0 systems speed up product delivery by unifying processes based on automation and data-driven analysis. Moving to Industry 4.0 is not anymore an option for OEMs, but modernization efforts can place significant strain on resources and budgets, potentially delaying new product development. Luckily, there is one method that has continuously proven to help OEMs not only survive but also thrive in the face of modernization challenges: partnership.
OEMs can focus their internal resources on what comes next by partnering with a global leader in product and customer lifecycle services. OEMs can meet ongoing customer requirements and preserve brand reputation while pushing forward with modernization strategies by utilizing strategic partners for necessary practices such as inventory management, maintenance, product repair, and customer account management.
The difficulty arises in locating the best vendor solution. In many cases, partners provide niche services, and while those vendors are highly capable, developing a portfolio of partnerships can quickly increase business complexity and cause more management and oversight issues than it solves. A single-vendor solution that handles the majority, if not all, of the required capabilities, can increase end-to-end visibility, improve business efficiency, and free up more time, energy, and resources for OEMs to devote to strategic innovation as well as designing products that can keep up with market demands.