Info-Tech Research Group is offering durable goods
manufacturers a strategic guide to adopting an Exponential IT
mindset. In a recently published blueprint focused on enhancing
operational efficiency, predictive maintenance, and supply chain
optimization, the firm outlines actionable strategies for IT
leaders in the manufacturing industry to leverage advanced
technologies to improve productivity, innovation, and customer
engagement.
TORONTO, June 17,
2024 /PRNewswire/ - Facing heightened competition,
aging legacy equipment, and significant technical debt, the
manufacturing sector is under immense pressure to innovate and
modernize its operations, Info-Tech Research Group explains in a
new industry resource. The global research and advisory firm
highlights in Priorities for Adopting an Exponential IT Mindset
in the Durable Goods Manufacturing Industry that
manufacturing companies must embrace exponential technologies to
improve competitive positioning, with IT leaders playing a key role
as valued business partners in this transformation. The new
research-backed blueprint provides manufacturing and IT
leaders with strategic insights and actionable plans to
predict market shifts, enable proactive technology investments, and
drive modernization through Exponential IT, ensuring they maintain
their competitive edge and avoid disruptions.
"From digitizing service models to computerizing operations
and the new influx of artificial intelligence processing,
information technology has drastically changed organizations,"
says Kevin Tucker, advisory practice
lead at Info-Tech Research Group. "To make the most of this
impending opportunity, IT executives will need to transform into
business leaders who can unlock advanced value and insights for
their company while reducing risk by implementing an IT
transformation. But in the world of Exponential IT, where new
skills and capacities are needed, innovation readiness is often
still a mystery."
Info-Tech defines Exponential IT as the strategic integration of
rapidly advancing technologies that can revolutionize the
manufacturing sector. These technologies, including automation,
artificial intelligence, and advanced analytics, empower
manufacturing companies to enhance operational efficiency, improve
resource management, and innovate production processes. Embracing
an Exponential IT mindset allows manufacturers to tackle digital
transformation head-on, ensuring sustainable business growth and
maintaining a competitive edge.
"The manufacturing industry is urged to rapidly inject an
Exponential IT implementation into its roadmap to address potential
industry disruptions," explains Tucker. "It is essential for
businesses to grasp the main priorities of Exponential IT
transformation to stay competitive in today's challenging
environment. Recognizing and integrating core foundational
capabilities are considered crucial initial steps in starting a
successful Exponential IT transformation, resulting in the
generation of value in the industry."
The firm's research outlines critical challenges faced by the
durable goods manufacturing sector in adopting Exponential IT. Key
issues include the integration of cutting-edge technologies with
legacy systems, the persistent difficulty in attracting and
retaining skilled IT professionals, and the urgent need for
effective data governance. Many manufacturers also contend with
fragmented data management and the dual pressures of innovation and
regulatory compliance. Overcoming these challenges demands an
approach encompassing strategic planning, targeted investments in
upskilling staff, and a culture that embraces technological
advancement. By fortifying foundational IT capabilities and
enhancing digital proficiency, manufacturers can successfully
navigate digital transformation, achieving substantial gains in
operational efficiency and improved customer engagement.
Info-Tech's recently published blueprint emphasizes the
strategic use of advanced technologies, such as AI and data
analytics, for predictive maintenance, supply chain optimization,
and customer experience personalization. This approach not only
safeguards sensitive data but also leverages it to fuel innovation
and boost overall business performance. The firm advises that by
prioritizing these technological advancements, manufacturing
organizations can develop more flexible and responsive operations,
ensuring sustained success in the dynamic manufacturing
landscape.
In the resource, Info-Tech outlines four key priorities that
manufacturing IT leaders must consider as they adopt an Exponential
IT mindset:
- Fund exponential value creation: As the market and IT's
roles evolve, IT budgets will need to shift significantly toward
innovation. This includes focusing on efficiency, sustainability,
cost reduction, and faster product quality enhancement. More
funding should also be directed toward advanced human-machine
technologies that improve employee safety.
- Team up DataOps with ModelOps: Companies are
increasingly recognizing that data is their most critical asset.
While data has always been important, the rise of AI and machine
learning has further elevated its significance. These advanced
technologies are essential for rapid decision-making, but
poor-quality data can lead to poor decisions. Integrating DataOps
with ModelOps ensures data integrity and effective model
management.
- Transform infrastructure and applications into
utilities: Shifting towards a utility-based model for
infrastructure and applications promotes a collaborative and
innovative approach to IT asset management. Leveraging cloud
solutions and low-code/no-code platforms gives organizations
greater control over their outcomes and agility to respond to
market changes.
- Let AI take over core operations: The growing importance
of data, driven by AI and machine learning, is transforming core
operations. AI can enhance system efficiency, accelerate incident
detection, and boost automation productivity. Ensuring high-quality
data is crucial, as poor data can lead to poor decisions. Proper
integration of AI in core operations allows for rapid, accurate
decision-making and improved overall performance.
As the manufacturing sector navigates the complexities of the
digital era, prioritizing these strategies will equip organizations
to drive innovation, maintain robust data security, and deliver
value-rich, personalized services that meet evolving market
demands.
By adopting an Exponential IT mindset, manufacturing companies
can effectively address the multifaceted challenges of digital
transformation, enhance their technological frameworks, and achieve
substantial improvements in operational efficiency and customer
engagement. This proactive approach ensures not only operational
resilience but also a competitive edge in an increasingly dynamic
market.
For exclusive and timely commentary on this topic from
Info-Tech's analysts and access to the complete Priorities for
Adopting an Exponential IT Mindset in the Durable Goods
Manufacturing Industry blueprint, please contact
pr@infotech.com.
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annual IT conference, Info-Tech LIVE 2024, taking place
September 17 to 19, 2024, at the
iconic Bellagio in Las Vegas. This
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About Info-Tech Research Group
Info-Tech Research Group is one of the world's leading
research and advisory firms, proudly serving over 30,000 IT and HR
professionals. The company produces unbiased, highly relevant
research and provides advisory services to help leaders make
strategic, timely, and well-informed decisions. For nearly 30
years, Info-Tech has partnered closely with teams to provide them
with everything they need, from actionable tools to analyst
guidance, ensuring they deliver measurable results for their
organizations.
To learn more about Info-Tech's divisions, visit McLean &
Company for HR research and advisory
services and SoftwareReviews for software buying
insights.
Media professionals can register for unrestricted access to
research across IT, HR, and software and hundreds of industry
analysts through the firm's Media Insiders program. To gain access,
contact pr@infotech.com.
For information about Info-Tech Research Group or to access the
latest research, visit infotech.com and connect via
LinkedIn and X.
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SOURCE Info-Tech Research Group