Industrial manufacturers must begin to digitize their
operations, products and services now to make the most of the
Industrial Internet of Things, analytics, AI and other “Industry
X.0” technologies, according to a new book, Industry X.0 –
Unlocking Value in Industrial Sectors, from Accenture (NYSE:ACN),
written by Eric Schaeffer.
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Accenture Research and the World Economic Forum found that
industrial manufacturers could contribute to unlocking an estimated
$100 trillion in value over the next seven years – if they managed
to leverage the Industrial Internet of Things (IIoT) and digital to
vastly improve health and safety, employment, income, industrial
value creation, resource efficiency and profits within their
operations and ecosystems.
To do this, Schaeffer argues that industrial businesses must
begin their journey toward digitization by mastering what is often
referred to as the fourth industrial revolution, and continue to
move toward the next iterations of Industry X.0 – a tremendous
challenge that must be overcome.
The ship has clearly sailed for digital sceptics. The industrial
sectors, comprising two thirds of the world’s gross domestic
product, will be changed beyond recognition by digital technology,
disrupting decades-old business habits, conventions and operating
models,” said Eric Schaeffer, senior managing director at
Accenture. “Businesses need to embrace this change, and to harness
its potential. For this, they need a clear strategy for managing
the necessary organizational pivots, and the right digital
capabilities for this new era of digitized manufacturing.”
Industry X.0 – Unlocking Value in Industrial Sectors takes an
insightful look at the business impact of the Internet of Things
movement on the industrial sphere. Schaeffer combines deep analysis
with practical strategic guidance, and offers tangible and
actionable recommendations on how to realize value in the current
digital age.
“With this inspiring book, Eric Schaeffer demonstrates the
monumental impact that IIoT has on the industrial sectors, and
clearly shows how this can be harnessed for major competitive
advantage, profit and growth,” said Cyril Perducat, Executive Vice
President, Digital Services Transformation, Schneider Electric.
The six “no regrets” capabilities for digitized
manufacturing
Based on extensive research and insights, the book explores six
core competencies - the critical aspects of IIoT that have been
identified by Accenture as having the biggest impact on industrial
companies. Schaefer defines each of them and how they are shaping
the industry:
- Synchronizing lifecycle clocks
by having a superior product lifecycle management approach is
vital. During digitization, hardware, products, shop floor
machinery and other production assets will age more slowly than the
software that steers them. Increasing early integration and
synchronization of hardware and software cycles will help avoid
production complications later.
- Embedding software intelligence and
connectivity in sheet metal products enables interaction with
the production environment, such as people or machines, including
other connected products. As an example of best practices, German
industrial giant Siemens, having reached 75 percent digital
automation in one of its plants, has reduced its defect rate below
12 items per million produced, while increasing plant output 8.5
times with little change in employment.
- Using analytics to gain insights and
decision support from data gathered by connected products and
other data sources is hugely significant. Unhindered data flow,
gathering, and data analytics will soon be the mainstay of highly
digitized businesses. A manufacturer that does not use data
analytics, even at a project level, will be at a major
disadvantage.
- Companies must make manufacturing
agile by adopting industrial automation wherever possible to
increase shop floor speed and flexibility. Automation already is
transforming manufacturing in the automotive and industrial
equipment industries with sensors and control mechanisms now
embedded in most machinery.
- Transitioning to “as-a-service”
business models is already on many executives’ strategy as they
seek to be prepared for the paradigm shift to the outcome economy,
where combinations of products and services will no longer be
acquired as property. Instead, they will be flexibly used as a
service when required.
- Creating ecosystems and running
them will be key because no single company will be in a
position to own the whole digital value chain in the outcome
economy. Coordinating ecosystems of suppliers, customers,
technology partners, start-ups, academia, competitors, and other
stakeholders will become the norm.
Meticulously researched and clearly explained, Industry X.0 –
Unlocking Value in Industrial Sectors makes a stringent case for
companies to switch company strategy from products, towards
services, value and outcomes. Complemented by a wealth of case
studies and real world examples, this book provides invaluable,
practical 'how-to' advice for business organizations as they embark
on their journeys into the era of the IIoT.
“This ground-breaking book helps leaders and managers to thrive
in the face of endless digital transformation. Industry X.0 is an
inspirational call-to-action for everyone associated with the
industrial sphere,” said Stefano Porcellini, Managing Director,
Biesse Group.
About the author
Eric Schaeffer is senior managing director at Accenture, leading
the company’s Industrial Practice, which supports industrial
companies as they harness digital opportunities. He also leads the
Accenture Product Lifecycle Services business, which provides
end-to-end services to unlock value and efficiencies from product
data across the entire value chain.
Industry X.0 – ISBN: 9780749481469,
Price: £26.99 – is available to purchase from Kogan Page from
3rd May 2017. For a review copy, a by-lined article
or to arrange an interview with the author, please contact
Florian.Heinrichs@Accenture.com.
Accenture at Hannover Messe, Germany – visit us @DIGITAL
FACTORY, HALL 6, BOOTH K45
Accenture is attending Hannover Messe, Germany. The company is
offering daily topical panel sessions with IIoT experts, keynote
presentations from leading academic and business figures, and
real-life applications of digital technologies for industrial
companies for a range of scenarios, from greater operational
efficiency to new revenue streams and analytics-powered insights.
Accenture is located at DIGITAL FACTORY, hall 6, booth K45. To
schedule a booth tour, please contact
Florian.heinrichs@accenture.com.
For more information on Accenture’s Hannover Messe presence and
program, please visit:
https://www.accenture.com/us-en/event-hannover-messe-2017
To schedule a booth tour, please contact
Florian.Heinrichs@Accenture.com.
About Accenture
Accenture is a leading global professional services company,
providing a broad range of services and solutions in strategy,
consulting, digital, technology and operations. Combining unmatched
experience and specialized skills across more than 40 industries
and all business functions – underpinned by the world’s largest
delivery network – Accenture works at the intersection of business
and technology to help clients improve their performance and create
sustainable value for their stakeholders. With more than 401,000
people serving clients in more than 120 countries, Accenture drives
innovation to improve the way the world works and lives. Visit us
at www.accenture.com.
About Kogan Page
Kogan Page is the leading independent global publisher of
specialist professional books and content with over 900 titles in
print. Its authors come from some of the world’s most prestigious
academic institutions, international commercial organisations or
professional associations in Leadership, Management, Marketing,
Branding, Human Resources, Coaching, Logistics, Entrepreneurship
and Careers. Follow @KPMktng for information about new books and
business insights from author experts.
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AccentureFlorian Heinrichs, + 49 151
11407803florian.heinrichs@accenture.com
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