Capturing the true value of Industry 4.0

In the past five years, a select group of companies have started pulling ahead in their efforts to implement Industry 4.0 across their manufacturing networks. Leading manufacturers are now realizing significant value from data and analytics, AI, and machine learning (ML). However, a large majority remain stuck in pilot purgatory, struggling to capture the full potential of their transformation efforts or deliver a satisfactory return on investment.

While digital transformations are notoriously difficult to scale up across networks of factories, the pressure to succeed is intense. Companies at the front of the pack are capturing benefits across the entire manufacturing value chain—increasing production capacity and reducing material losses, improving customer service and delivery lead times, achieving higher employee satisfaction, and reducing their environmental impact. Scaled across networks, these gains can fundamentally transform a company’s competitive position.

With so much at stake, manufacturers are putting significant time and money behind their digital transformations. These investments are paying off for some, but most remain unable to scale successful pilot programs or fully leverage new tools and technology to see meaningful returns.

This article explores some of the common pitfalls associated with digital transformations and how a more strategic and value-driven approach could help manufacturers in the race to get ahead.

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