Is your company ready to digitize now?

The conditions for digitizing have never been better to invest in making the transition. Besides decreasing costs for many of the digital tools, there are a number of reasons you need to digitize now.

Connected Intelligence

Digitization leads to connectivity. Connectivity leads to enhanced intelligence. With globally-connected factories, company leaders have vision into the entire operation like they’ve never had before. This vision includes better (and real-time) data on costs, resources, delays, etc. for better productivity and efficiencies.

Technology Integration Point

Technology has reached the integration point to facilitate digitization. Automation and robots take production out of human hands resulting in fewer errors. Sensors and software make data easier and cheaper to collect and analyze. This data helps companies keep their machines in better working order. Best of all, the prices on these tools are decreasing making them more accessible.

Skills and Data

Big data can now guide companies to make better decisions to make global improvements. Software will be the key selling point for the machines to show how they solve customers’ needs. People are the big barrier to getting productivity out of the technology. Your workers need coding skills to program the machines.  Companies need to train current workers and hire for the skills they can’t train quickly.

Competition

Your competitors are making the move to digitization. By waiting, you risk falling behind instead of gaining advantages. That can cost you in potential customers, and in attracting new employees. Plus, intelligence continues to grow giving bigger advantages and a wider gap to those that digitize sooner.

Research shows that digital laggards will be greatly affected by the digital transformation in just a few years.¹ But, those that make the transition are already seeing the benefits. Specifically, Lantek has helped their customers:

• Optimize productivity and profitability.
• Become more agile to deliver rapid solutions.
• Minimize material waste.
• Provide personalized services.
• React more quickly to unforeseen circumstances.

Characteristics of a Digitized Manufacturing Company

How do you know if your company is ready to digitize? Companies that have made the transition share common characteristics that make them more likely to be successful.²

These are traits that companies should strive to have:

• Aspirational: The digital transition is a culture change with new needed skills and a change in habits. Leadership needs to be front and center championing the new vision and offering full support and motivation to get workers to buy-in.
• Customer-Centric: Every decision should consider how it impacts your customers. Faster production, enhanced customization, personalized services, fewer delays are examples of what will make your customers happy.
• Innovative: New improvements and tools are coming faster than ever. You need to always be looking for ways to improve your efficiency and productivity because your competitors are.
• Data Driven: Data is at the core of everything you will do in the digital world. Data needs to drive your decisions.
• Collaborative: Globally-connected factories open up opportunities for better collaboration. New points of view can spur innovations that wouldn’t have been possible before. Connectedtools (ERP, CRM, MES, CAD/CAM etc.) allow digital sharing of files that employees can access anywhere, including real time updates.
• Continually Learning: As technology continues to improve, workers also need to be continually learning. You need to be able to learn new systems, adapt processes and keep up with new tools.
• Agile: As new opportunities arise and competitors make pivots, company leaders need to be able to make quick decisions and react to changes. Using the data will help you make better choices.

You may not have all of the traits above. If that’s the case, make it part of your overall digital strategy to acquire and grow these characteristics.

The window is open wide for digital opportunities. Make the leap now before it closes and leaves you behind.

 ¹ https://blogs.cisco.com/manufacturing/digital-mfg-transforming-business

² http://www.industryweek.com/corporate-culture/common-characteristics-factory-future