The testimonies from Caterpillar, FlowServe, and a leading food packaging manufacturer at the recent LiveWorx IoT conference, made it clear that a 50 plus to 220-year old company can find new ways to re-imagine the way they do business.
Here are some excerpts on how these manufacturing giants are transforming their futures:
What was this leading food packaging manufacturer looking to change? The manufacturing company recognized that it needed emerging technology skills and experience to drive its digital transformation. They wanted to drive more efficiency with asset performance and utilization.
How did the team put IoT into action? The manufacturer and Cognizant, the 2016 #1 ThingWorx System Integrator of Year, worked together to:
“IoT technologies will be a commodity, and the real value will be in the analytics performed on the voluminous streams of contextual data emitted by the “digital heartbeat” of the value chain.”
What was the result? The company is now gaining better insights from their connected products and plans to scale their IoT program. The goal is to drive value to the business that can increase equipment performance, optimize consumable consumption and replenishment, increase service revenue and reduce the cost of carrying inventory.
Companies like Caterpillar, Flowserve, and our leading food packaging manufacturer can reimagine their business and achieve benefits such as:
Now is the time to leverage similar digital capabilities across the industrial setting to increase customer value and outperform the competition.
Frank is the North American leader for Cognizant's IoT and Engineering Manufacturing solutions. He is a seasoned professional who has been leading Fortune 500 Global Delivery Management and Transformation programs. He has a B.E, Computer Science & Engineering at SRM Engineering.