Every year the IDC Manufacturing Insights Group gives its predictions of manufacturing trends for the coming year to help company leaders capitalize on emerging market opportunities and plan for future growth.
Their list for 2014 seems to focus on two key points in Manufacturing – Operations and Technology. Much has been written about how investments in improved operations and technology are great ways to improve the bottom lines for both manufacturers and distributors. The IDC list seems to indicate an even greater focus on the joining of people, process, data and things to transform information into actions and create new capabilities, richer experiences and unprecedented opportunities. Some call this the Internet of Everything…….an interesting new term!
The Top Ten Predictions for Manufacturing in 2014 from the IDC are:
- Manufacturers will begin to build 3D value chains – Demand oriented, Data driven and Digitally executed
- Operational, information & consumer technology converge to reshape approaches to technology management
- Operational resiliency will be the focus of supply chain strategies……perhaps due to the ever increasing demand for quality and accuracy?
- Supply chain technology investment will focus on modernizing existing systems and trying new approaches
- The modernization of the underlying B2B commerce backbone becomes an investment priority for IT……..meaning modernizing technology to hasten responsiveness?
- Product life cycle management strategies become increasingly global, multidisciplinary, innovation-based and customer focused
- “Servitization optimization” will be core to future profitable revenue growth & leading manufacturers will make the necessary investments to enable these strategies………this needs a bit more explanation
- According to IDC, “Servitization’ refers to the strategies for original equipment manufacturers (OEMs) to increase after-sales services and provide new sources for predictable, profitable, subscription-like revenue streams. Might this be of concern to the supply chain?
- 2014 will set the stage for a new manufacturing renaissance
- Plant floor IT investments (that bridge operations and IT) will continue to become a higher share of the overall technology investment portfolio
IDC is forecasting +5.3% technology investments growth within U.S. manufacturing industries…….might this include your company?
What do you think is missing from this list of predictions? Let us know & please SHARE and LIKE this blog – and as always thank you for subscribing to EVERYTHING’S CONNECTED.