In a recent article on https://www.mckinsey.com/ authors Matthias Breunig and Niko Mohr invite manufacturers to dive into digital machinery. They suggest a drastic turn from selling hardware (machines, components) to digital-based business models which provide attractive opportunities for growth and efficiency.
A section of the article focused on three cornerstones of building a digital machinery company.
SOURCE: McKinsey
Finally they hightlight the four theme on which Digit “Digital machinery,” or “Industry 4.0” is built from
- the power of the Internet of Things (IoT), along with the dramatic decrease in prices for IoT nodes and the astonishing rise in data volumes, computational power, and connectivity, especially new low-power wide-area networks
- the emergence of analytics and business intelligence capabilities
- new forms of human-machine interaction, such as touch interfaces and augmented reality systems
- substantial improvements in transferring digital instructions to the physical world, such as advanced robotics and 3-D printing
READ THE FULL ARTICLE HERE: https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/digital-machinery-how-companies-can-win-the-changing-manufacturing-game?cid=eml-app
