Embracing Industry 4.0
McKinsey Global Institute has recently published some compelling material on the onset of “Industry 4.0”, or what many believe is the next Industrial Revolution. Their research and supporting theories envision a not-so-distant future where success in business is dependent upon an organisation’s ability to embrace digitisation as part of a widespread strategy. This idea (as illustrated in McKinsey’s Digital Compass ) paints a scenario where significant competitive advantages can be realised by those prepared to embrace digital business, much of which is underscored by things like automation, robotics, and machine-human collaboration. The alternative? Companies that fail to scale toward a digital future will be left in the dust by their competition.
The McKinsey Digital Compass: Industry 4.0 Levers & 8 Main Value Drivers
The Impact of MRO Data Quality
For our customers, accurate Material Master Data helps them safely and reliably produce more with less. In specific terms, this equates to less spend, less stock, less scrap and less wasted time. Companies that implement our solutions save money, improve maintenance performance and create safer and more productive environments. The business case for investing in the sparesFinder platform for most businesses is extremely straightforward. Yet when you consider the McKinsey report and other Industry 4.0 “warning shots”, a broader and longer-term strategy for MRO data quality becomes apparent.
We challenge you to think about about how cross-functional digitisation might impact your department. Are you ready for things like predictive maintenance, real-time supply chain optimisation or augmented reality for MRO? Is data quality a potential roadblock to digitisation for your business?
If you would like to discuss how we can help prepare your organisation for a shift to Industry 4.0, please feel free to contact us.
James McDermott VP, Marketing at sparesFinder