Impact of COVID-19 and outlook for electronics and high-tech industry
Demand for industrial electronics has been on the rise for years with manufacturing, healthcare, and automotive industries looking to technology to transform efficiency, productivity, and competition. With the onset of COVID-19, electronic high-tech companies felt the pinch with disrupted supply chains, causing shortages of key components—and limited visibility exacerbated the problem.
As we turn the corner and move towards the new normal, electronic high-tech companies will look to invest to create real-time visibility into the supply chain, in order to drive agility and flexibility in the future and adopt digital thread and digital twin to capture design data, maintain version control, and simulate all components and systems.
Here are some of the challenges PTC helps the high-tech industry solve:
- digitalization of supply chains
- product development and knowledge management
- IoT, 5G, and AI Initiatives
Drive measurable value
COVID-19 is accelerating digital transformation as the high-tech industry rapidly looks to address its biggest challenges across the value chain to maximize revenue, reduce costs, and increase efficiency.
But as digital transformation continues to accelerate, many companies find themselves with initiatives that stall or fail to prove value. PTC’s unique approach to digital transformation helps companies avoid pilot purgatory by identifying the most impactful problems, applying proven solutions, and then scaling results across the enterprise. The result is double digit financial impact.
Keep reading below to learn how PTC can help you.
Maximize revenue growth
Accelerate new product introductions, increase throughput, and enable new business models to meet customers’ rapidly-evolving demands.
Increase efficiency
Drive efficiency gains across the value chain, increasing asset efficiency in manufacturing, collaboration in engineering, and productivity in service.
Reduce costs
Lower the cost of goods sold with lower manufacturing costs and increased engineering productivity. Reduce service and warranty costs with reduced truck rolls and better product quality.
Smart, connected product design in the high tech industry
Keeping pace with the speed of innovation across the industry starts with a solid product design solution that enables your team to be agile, resilient, and efficient. Explore these key considerations for designing smart, connected products while creating a digital thread, maintaining version control, and accessing insights from operating conditions.
PTC’s solutions are helping leading electronic high-tech companies get ahead of the competition.
