Over the last decade or so, technological developments have played a vital role in bolstering businesses in almost every sector we can imagine. Be it blockchain, big data, or the ubiquitous cloud service; technology has brought radical changes in business operations. In manufacturing, robotics and automation have always been a crucial part of the factory for decades, but the real challenge for this industry remains in optimizing various business processes through innovation.
Manufacturers are always in essence of servitization as they constantly work on ways that could supplement their product offering. Also, employee engagement remains a vital part of digital transformation as the most robust technology shifts are driven by an organization’s personnel.
However, regarding investments, manufacturers often think that they are investing enough to embark on the digital journey, but the core to business success relies on focusing on the right areas and finding optimal channels of efficiencies. Hence, the need to steer towards more innovation-focused investments may further proliferate in the years to come.