Industrial manufacturers play a special role in the digitalization of businesses across all industries.
They provide the digitally enabled equipment so other companies can innovate their business. They also spearhead innovative processes themselves, using the digital capabilities of the equipment they use. Their opportunity lies in two areas: topline revenue growth through better and more differentiated products, and bottom-line cost savings through more-efficient and more-effective processes.
At the same time, digitalization opens the playing field for companies that are not traditional manufacturers but that come with expertise in these technologies from other industries. In this situation it is essential for industrial manufacturers to focus on the right strategic priorities to drive digitalization:
- Customer centricity
- Serving the “segment of one”
- Digital smart products
- Digital supply chain and smart factory
- Servitization and new business models
To learn more, download the SAP Point of View white paper, Intelligent Industrial Machinery and Components Companies: Are Powering the Fourth Industrial Revolution.