Study Shows Manufacturers Shift Focus to Digital to Drive Growth

According to the latest Marketwired article, 86% of manufacturers see the shift from product-centric to service-oriented revenue models as an essential part of their growth strategies. manufacturing storage

The payoff for an average $20 billion manufacturing firm that makes the “digital business transformation” stands to profit upwards of 12.8% over the next three years, reports the article. 

Making a good product isn’t enough today, as companies are increasingly leveraging services to drive disruptive new business models that enable them to charge for business outcomes. The Cisco study covered in the article shows 79% of businesses claim that digital disruption will have a substantial impact on their companies over the next three years. However, only 29% of respondents think that services will grow faster than products.

Additional survey findings show that digital technologies like the cloud (37%), Internet of Things (33%), and analytics (32%) will have the biggest influence on production in the coming years.

"Leading manufacturers are laying the foundation for realizing value from the Internet of Things by bringing together information technology (IT) and operational technology (OT),” says Joe Kann, Global Business Development of Rockwell Automation, in the article. “Tighter integration between industrial assets and the rest of the enterprise can drive business value, strengthen competitive positions and prepare their operations for future productivity improvements."

While manufacturers increasingly integrate digital into service models to drive business growth, companies can continue to rely on Lista storage solutions to optimize productivity and organization during such changes.

Learn more about Lista manufacturing solutions or contact us for a quote!

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