Remember when manufacturing and operations were linear? The customer had a role in sales and product positioning at the end of the manufacturing process, but by that time the product already left the factory so you couldn't connect with the customers any longer. All that has changed with the Industrial Internet of Things or IIoT. Customers expect more from the products and services they are buying and unfortunately brand loyalty is rare. They want the latest and greatest of the products that meet their needs at the best price.
Are you looking to entice new customers and maintain current market share? If so, this requires changing the traditional approach which always had limited interaction with customers. Today, you have to focus on customer engagement, virtually and in person, and with the entire organization. Social media and technology enable you to reach customers quickly and react to ever-changing business demands, and at the same time customers can alter their alliance just as fast.
Transformation and Technology
Business transformation requires more than IIoT technology and product enhancement, it requires a shift in mentality to gain a market advantage over competitors. What can IIoT do? Reduce production costs, eliminate disorganization and support end-to-end operations to drive new business and revenue.
The Internet of Things, People and Services has revolutionized the market and enabled manufacturers like you to expand their business models and deliver service-based products while enhancing product portfolios. You can offer much more now, solutions that incorporate services as well as products. This business transformation allows you to take full advantage of the opportunities that exist in the manufacturing market today.
Technology has outpaced the evolution of business processes for the first time in decades. How can you transform your business processes with IIoT, Download this Competing in the Digital Age of Manufacturing eBook to see how.