Manufacturing Today - August 2017 - 8

Industry experts at Deloitte say Industry 4.0 enables a more responsive
customer-centric organization where
digital technologies offer opportuni8

manufacturing-today.com AUGUST 2017

ties for innovation and growth, and
novel ways to improve and customize the customer experience. With
the ability to understand a product's
performance and customers' interactions with those products in the field,
manufacturers gain knowledge as to
how to best grow and enhance customer relationships.

Organizations Must Deal
with the Technology Debt
The most digitally mature companies
are eight times more likely to gain
market share than the least digitally
mature, according to Bain & Company, which benchmarks companies.
While most organizations recognize
the "digital dividends," many face an
uphill battle with legacy systems. In
fact, a large percentage are spending
excessive IT cycles on integration,
which takes away from their ability to
focus on innovation and competitive
advantage. In a recent study by Accenture, it was found that the typical
IT budget may allocate up to 90 per-

cent to maintaining the current state
and just 10 percent on innovating - a
"technology debt" that is bankrupting
competitive advantage. Per Accenture,
technology debt encompasses the inefficiencies, duplicate processes and extra work created by an outdated or outof-control technology architecture.
Operations executives are taking
stock of whether the business systems
they have in place are ready to support
the Industry 4.0 journey. Product Lifecycle Management (PLM), Enterprise
Resource Planning (ERP), Manufacturing Execution Systems (MES), and
Computer Aided Drafting/Computer
Aided Manufacturing (CAD/CAM)
all must be integrated to support the
move toward increased digitization
and customization. The boundaries
between production and management
must disappear, and ERP, MES and
other critical systems must form an
integrated unit for businesses to realize growth opportunities in this new
age of intelligent manufacturing.
What's more, as digitization in the
factory continues, security implications grow and a sophisticated and
layered approach to security is critical. Leveraging a cloud-hosted software model can give manufacturers
the ability to confidently move forward with Industry 4.0 initiatives.
Evaluating the existing IT environment is the first step to Industry 4.0
readiness. Digital capabilities are vital,
and ensuring the right foundation is in
place to capture, analyze and act is critical, as time and Industry 4.0 tide wait
for no man, or manufacturer. mt

B UY AMERICAN

A LFAB INC.

L EGAL

N EWS

is pivotal in this area. To date, the use
case for rapid prototyping has been
proven to be a game changer, and other
broader use cases are now coming into
focus. These include 3-D printing for
spares or replacement parts - which
dramatically reduce the time and cost
of part acquisition, especially for old or
obsolete parts, enabling manufacturers to significantly reduce downtime
while extending equipment shelf life
and return on investment.
* Cultivating and exceptional customer experience - Manufacturers know customer experience
is fundamental. This entails providing the means to deliver what
customers want, when they want
it (i.e. omni-channel order and fulfillment options) to keep pace with
changing market demographics
and customer expectations.

T ECHNOLOGY

M F G TOMORROW

D IALOGUE

M ARKETING

I MPROVEMENT

F U N D E M E N TA LS

A CCOUNTING

L AST PAGE

I NDUSTRY4.0

COLUMN BY | TERRI HISKEY

Terri Hiskey is an accomplished marketing professional with broad experience in the manufacturing and
supply chain sectors. Hiskey is vice president of Product
Marketing for Manufacturing at Epicor Software, a provider of ERP solutions for 20,000 customers worldwide.
Visit www.epicor.com for more information.


http://www.manufacturing-today.com

Table of Contents for the Digital Edition of Manufacturing Today - August 2017

Table of Contents
Manufacturing Today - August 2017 - Cover1
Manufacturing Today - August 2017 - Cover2
Manufacturing Today - August 2017 - 1
Manufacturing Today - August 2017 - Table of Contents
Manufacturing Today - August 2017 - 3
Manufacturing Today - August 2017 - 4
Manufacturing Today - August 2017 - 5
Manufacturing Today - August 2017 - 6
Manufacturing Today - August 2017 - 7
Manufacturing Today - August 2017 - 8
Manufacturing Today - August 2017 - 9
Manufacturing Today - August 2017 - 10
Manufacturing Today - August 2017 - 11
Manufacturing Today - August 2017 - 12
Manufacturing Today - August 2017 - 13
Manufacturing Today - August 2017 - 14
Manufacturing Today - August 2017 - 15
Manufacturing Today - August 2017 - 16
Manufacturing Today - August 2017 - 17
Manufacturing Today - August 2017 - 18
Manufacturing Today - August 2017 - 19
Manufacturing Today - August 2017 - 20
Manufacturing Today - August 2017 - 21
Manufacturing Today - August 2017 - 22
Manufacturing Today - August 2017 - 23
Manufacturing Today - August 2017 - 24
Manufacturing Today - August 2017 - 25
Manufacturing Today - August 2017 - 26
Manufacturing Today - August 2017 - 27
Manufacturing Today - August 2017 - 28
Manufacturing Today - August 2017 - 29
Manufacturing Today - August 2017 - 30
Manufacturing Today - August 2017 - 31
Manufacturing Today - August 2017 - 32
Manufacturing Today - August 2017 - 33
Manufacturing Today - August 2017 - 34
Manufacturing Today - August 2017 - 35
Manufacturing Today - August 2017 - 36
Manufacturing Today - August 2017 - 37
Manufacturing Today - August 2017 - 38
Manufacturing Today - August 2017 - 39
Manufacturing Today - August 2017 - 40
Manufacturing Today - August 2017 - 41
Manufacturing Today - August 2017 - 42
Manufacturing Today - August 2017 - 43
Manufacturing Today - August 2017 - 44
Manufacturing Today - August 2017 - 45
Manufacturing Today - August 2017 - 46
Manufacturing Today - August 2017 - 47
Manufacturing Today - August 2017 - 48
Manufacturing Today - August 2017 - 49
Manufacturing Today - August 2017 - 50
Manufacturing Today - August 2017 - 51
Manufacturing Today - August 2017 - 52
Manufacturing Today - August 2017 - 53
Manufacturing Today - August 2017 - 54
Manufacturing Today - August 2017 - 55
Manufacturing Today - August 2017 - 56
Manufacturing Today - August 2017 - 57
Manufacturing Today - August 2017 - 58
Manufacturing Today - August 2017 - 59
Manufacturing Today - August 2017 - 60
Manufacturing Today - August 2017 - 61
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Manufacturing Today - August 2017 - 63
Manufacturing Today - August 2017 - 64
Manufacturing Today - August 2017 - Cover3
Manufacturing Today - August 2017 - Cover4
http://www.nxtbook.com/nxtbooks/knighthouse/mt_vol19_6
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http://www.nxtbook.com/nxtbooks/knighthouse/mt_vol18_3
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http://www.nxtbook.com/nxtbooks/knighthouse/mt_vol18_1
http://www.nxtbook.com/nxtbooks/knighthouse/mt_20171112
http://www.nxtbook.com/nxtbooks/knighthouse/mt_201709
http://www.nxtbook.com/nxtbooks/knighthouse/mt_201709_v2
http://www.nxtbook.com/nxtbooks/knighthouse/mt_201708
http://www.nxtbook.com/nxtbooks/knighthouse/mt_201707
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http://www.nxtbook.com/nxtbooks/knighthouse/mt_20160910
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http://www.nxtbook.com/nxtbooks/phoenix/mt_20160506
http://www.nxtbook.com/nxtbooks/phoenix/mt_20160304
http://www.nxtbook.com/nxtbooks/phoenix/mt_20160102
http://www.nxtbook.com/nxtbooks/phoenix/mt_20151112
http://www.nxtbook.com/nxtbooks/phoenix/mt_20150910
http://www.nxtbook.com/nxtbooks/phoenix/mt_20150708
http://www.nxtbook.com/nxtbooks/phoenix/mt_20150506
http://www.nxtbook.com/nxtbooks/phoenix/mt_20150304
http://www.nxtbook.com/nxtbooks/phoenix/mt_20150102
http://www.nxtbook.com/nxtbooks/phoenix/mt_20141112
http://www.nxtbook.com/nxtbooks/phoenix/mt_20140910
http://www.nxtbook.com/nxtbooks/phoenix/mt_20140708
http://www.nxtbook.com/nxtbooks/phoenix/mt_20140506
http://www.nxtbook.com/nxtbooks/phoenix/mt_20140304
http://www.nxtbook.com/nxtbooks/phoenix/mt_20140102
http://www.nxtbook.com/nxtbooks/phoenix/mt_2013fall
http://www.nxtbook.com/nxtbooks/phoenix/mt_2013summer_vol2
http://www.nxtbook.com/nxtbooks/phoenix/mt_2013summer_vol1
http://www.nxtbook.com/nxtbooks/phoenix/mt_2013spring
http://www.nxtbook.com/nxtbooks/phoenix/mt_2012winter
http://www.nxtbook.com/nxtbooks/phoenix/mt_2012fall
http://www.nxtbook.com/nxtbooks/phoenix/mt_2012summer
http://www.nxtbook.com/nxtbooks/phoenix/mt_2012spring
http://www.nxtbook.com/nxtbooks/phoenix/mt_2011winter
http://www.nxtbook.com/nxtbooks/phoenix/mt_2011fall
http://www.nxtbook.com/nxtbooks/businessmedia/mt_2011summer
http://www.nxtbook.com/nxtbooks/businessmedia/mt_2011springsummer
http://www.nxtbook.com/nxtbooks/businessmedia/mt_2011spring
http://www.nxtbook.com/nxtbooks/businessmedia/mt_2011winter
http://www.nxtbook.com/nxtbooks/businessmedia/mt_2010fall
http://www.nxtbook.com/nxtbooks/businessmedia/mt_2010summer
http://www.nxtbook.com/nxtbooks/businessmedia/mt_2010spring
http://www.nxtbook.com/nxtbooks/schofield/mt_2010winter
http://www.nxtbook.com/nxtbooks/schofield/mt_2009fall
http://www.nxtbookMEDIA.com