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Manufacturers: making connections
Rising costs, competition, shifting patterns of consumer behavior, and increased customer expectations have driven manufacturers to reevaluate the way they do business and their relationship with customers. In response, more and more worldwide have turned to connected services to generate income, build customer trust, and enhance the customer experience.
Connected services bring new opportunities
Connected services can help in many ways, such as providing predictive maintenance and generating new income by selling smart, connected products.
It offers a more seamless, efficient, and cost-effective business model that can help optimize operations. Data obtained through a new data layer can easily integrate and connect with relevant systems and apps. The gathered data can flow back into the enterprise resource planning (ERP) system.
It can also go to technicians in the field and customer service, saving them time and effort when addressing issues while delivering a more resilient supply chain that can guarantee the availability of replacement parts.
Top reasons manufacturers use connected services:
- Increase uptime for connected products they sell
- Lower cost of servicing equipment
- Establish stronger relationships with their end users while continuing to sell their equipment through dealers and distributors
- Improve field service that relies on phone calls and paper records with digital alternatives that give up-to-date information
- Find easy, consistent, and effective ways to train new technicians
(Source: IoT Signals Manufacturing Spotlight, August 2022 and 2021 State of Manufacturing Report, Fictiv)
76%
of surveyed manufacturers have connected their assets.
50%
of surveyed manufacturers have a partial or full smart connected products strategy.
91%
of surveyed manufacturers increased their investment in digital transformation in the last year.