HANNOVER MESSE, Germany & LONDON -- (Business Wire)
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170425005194/en/
Contacts:
Accenture
Florian Heinrichs, + 49 151 11407803
florian.heinrichs@accenture.com
Source: Accenture
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