Aligning Plant and Asset Needs With Business Opportunities
Smarter asset management can increase a manufacturer’s ability to pivot to new product categories and manufacturing processes, to adapt to changing conditions, to navigate supply chain disruptions, and to capitalize on innovation. For instance, one innovation is for manufacturers to sell their data as knowledge or services, and “swim up” the supply chain for their industry.
“When manufacturers embrace modern technologies like AI, IoT and edge computing, they begin to understand the art of the possible,” Neubecker said. “This leads to new ideas. You can’t keep applying five-year-old solutions to today’s problems. Always understand today’s solutions, and you’ll be better positioned to handle tomorrow’s issues and opportunities.”