Digital Transformation in Industrial Manufacturing: Opportunities and Challenges
A real-time look at how traditional B2B companies are adapting to the modern consumer
In March 2021, Blue Acorn iCi, an Infosys Company, Adobe, and BWG Strategy undertook a survey of professionals leading digital transformations in the industrial manufacturing sector. The survey addressed the key opportunities and challenges facing these organizations in early 2021, approximately one year after the onset of the COVID-19 pandemic.
In an interactive discussion, leaders from Infosys, Adobe and BWG Strategy spoke about the key findings of the survey. The panel comprised Ravi Shankar, Executive Director Global Customer Program Strategy, Commercial Excellence at Johnson Controls; Jeff Hennige, Practice Director, Digital Strategy Group at Adobe; and Vijay Narayan, Sr. Vice President & Head, Core Manufacturing Americas at Infosys and was moderated by Aaron Conant, Co-Founder & Managing Director at BWG Connect.
Key takeaways from the discussion:
Industrial manufacturers see the need for both long-term and short-term change but are now faced with the challenge of how to navigate it. However, they have identified three main categories as essential for progression: efficiency, resiliency, and adoption of digital business models.
- Increasing efficiency: Streamlining processes and products is a top priority for manufacturers. Through the adoption of new cloud infrastructure and Software-as-a-Service (SaaS) solutions for operations and front-end software, processes will become more efficient. Additionally, from sales and operations to product manufacturing and supply chain reconciliation, implementing the right automation solutions can enhance organizational efficiency.
- Boosting resilience: By improving supply chain and cybersecurity, industrial manufacturers are finding newer ways to become resilient in the face of uncertainties. Organizations are supporting and understanding the new hybrid workforce, and eliminating supply chain redundancies, to gain better control over their own environment.
- Adopting a B2B2C model: By revamping the traditional B2B business model, manufacturers can find new and innovative ways to connect with their end consumers and cater to their requirements. The B2B2C model, which streamlines internal business units and software in a more unified way, is gaining popularity. While the adoption of this new business model may seem inevitable for most industrial manufacturers, organizational alignment and the know-how needed to make this shift effectively are very significant.
Watch the video here.