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Manufacturers Target Profitability Over Growth in Smart Manufacturing Plans: ISG Survey
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ISG to release full findings at April 21 ISG TechXchange: Smart Manufacturing event
Executives with Caterpillar, Hitachi Vantara, Bayer, Bosch, Fairlife, AGCO Corporation, CESMII, Schneider Electric and LTI to be featured speakers
STAMFORD, Conn.--(BUSINESS WIRE)--
A majority of manufacturers say they are prioritizing cost savings over growth in their smart manufacturing plans, according to a new survey from Information Services Group (ISG) (Nasdaq: III), by leading global technology research and advisory firm.
ISG will release the full results of its survey at the ISG TechXchange: Smart Manufacturing event, April 21 at the Radisson Blu Aqua in Chicago.
“Our research indicates manufacturers are looking to smart manufacturing to help increase profitability – even more than to power growth,” said Dave Lewis, ISG partner, manufacturing industry lead and host of the event.
Lewis said manufacturers are seeking cost savings from waste reduction and sustainability initiatives. “Operational data can be immediately put to use to achieve those savings but will require technology to collect and use data effectively,” he said.
Gaining insights from such data is extremely complex, Lewis said, because product manufacturing generates enormous volumes of data that must be stored, labeled, sorted and analyzed to improve the product throughout its lifecycle – from development through manufacturing, supply chain operations and product use.
Maximizing the value of data assets and breaking down the barriers posed by legacy architecture and siloed business units, and gaining stakeholder alignment, will be the topic of discussion between Kai Hackbarth, senior technology evangelist for Bosch Global Software Technologies GmbH, and John Dyck, CEO of CESMII - The Smart Manufacturing Institute, at the ISG event.
Other featured speakers include Brent Ruth, lean digital transformation leader with Caterpillar, who will deliver a keynote address on the heavy industrial manufacturer’s approach to leveraging IT/OT automation to accelerate digital transformation.
In another session, Frank Antonysamy, chief digital solution officer for Hitachi Vantara, will outline how the IT service management company identifies, builds and delivers digital capabilities to clients and combines mobility, energy, industry and smart-life company expertise into its “One Hitachi” solutions.
The opportunities cloud computing, IoT, AI/ML and other Industry 4.0 technologies offer for improving operational and decision-making processes will be the focus of a panel discussion, “Bringing Decision-Making Closer to Production,” with Susanne Lauda, director, global advanced manufacturing technology at AGCO Corporation; Carsten Baumann, director of strategic initiatives and solution architect at Schneider Electric, and Rajesh Sundaram, executive vice president of manufacturing at LTI.
In another panel discussion, “Build a Culture of Innovation – Empowering the Factory Floor,” Peri Subrahmanya, principal engineer at Bayer U.S., and Neil Betteridge, senior vice president of category development at Fairlife, will share change management techniques that can help build a culture of innovation, prevent the loss of institutional knowledge and processes, and upskill and empower workers on the factory floor.
The ISG TechXchange: Smart Manufacturing event is sponsored by Hitachi Vantara, HCL Technologies, Mindtree, OutSystems, Capgemini and LTI. Additional information and event registration is available on the event website.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
