Digital transformation has a specific innate value for manufacturers. At a glance, it extends several ways to make slow and tedious processes to run more competently.
FREMONT, CA: Most manufacturers believe that digital transformation is vital for their business. Some manufacturers are already garnering the benefits of going digital, and others are still speculating what precisely the term means and whether the notion even applies to their situation.
Likewise, making a digital transformation is much easier for a software company than it is for an industrial manufacturer, which still runs on printouts, spreadsheets, and file folders. Therefore, before one makes a dive into digital transformation, they need to form a clear idea of what it entails.
The Statistics About Digital Technology
Digital transformation has a specific innate value for manufacturers. At a glance, it extends several ways to make slow and tedious processes to run more competently. A key goal of most manufacturers is to have a digital makeover of their factory setting. In the smart factory environment, machines are connected to software that facilitates them to monitor and enhance their own performance. Also, many industrial manufacturers that have implemented smart factories have realized an increase in product quality and productivity.
Additionally, one does not have to be an expert in digital transformation to reap its benefits for the organization. As per a survey, a set of respondents who deem to be beginners in digitization are projecting increased profits over the upcoming years. Besides, those considering being digital masters will amplify their earnings by nearly three times.
Planning the Digital Transformation
According to a survey, around 52 percent of manufacturers strongly concur that adopting digital technologies is essential for survival, while another 34% agree moderately. While other two-thirds of firms considered themselves either fully prepared or very close to being ready for the digital economy.
Besides, the extent to which a few businesses have employed digital processes limits only to B2B customer orders, whereas only some have established an entirely digital process. The bottom line is that more manufacturers trust technology like the cloud and the Industrial IoT to deliver reliability, security, and ROI. At the same time, many organizations still do not know how to get there.