Welcome, Guest  |  Login    Register

Six Tips for Cashing in on the Promise of Smart Products

Posted By Jeff Moad, November 21, 2017

ThinkstockPhotos-498302852.jpgSmart, connected products offer manufacturers a wealth of opportunities to reduce operational costs while also driving new sources of revenue and higher levels of customer intimacy. But, in order to realize the promise of smart products, manufacturers will need to drive much more internal, cross-functional collaboration; cultivate new, closer ties with customers; and invest in upgrading legacy product and technology infrastructure.

These were some of the conclusions that were shared recently by Manufacturing Leadership Council members who have already rolled out smart products. The manufacturers imparted their experiences earlier this week as part of a ML Council Critical Issues Debate and Discussion entitled “Will Smart Products Revolutionize Your Manufacturing Strategy?”

One of the ML Council members sharing its smart product experience, Lexmark International, Inc., has embedded sensors and software into its high-tech office products in order to enable advanced predictive service applications. The sensors capture information about how the products are operating in the field, and algorithms developed by the manufacturer predict when a failure is about to occur and give it insights into its root cause.

Read More

Blog Posts

jmoad
Six Tips for Cashing in on the Promise of Smart Products  in The Innovation Enterprise

Smart, connected products offer manufacturers a wealth of opportunities to reduce operational costs while also driving new sources of revenue and higher levels of customer intimacy. But, in order to realize the promise of smart products, manufacturers will need to drive much more internal, cross-functional collaboration; cultivate new, closer ties with customers; and invest in upgrading legacy product and technology infrastructure. Read More →

Posted by Jeff Moad on Nov 21, 2017
Views: 238
jmoad
Ongoing Cyber Attacks Target Manufacturers  in Cybersecurity

Manufacturing leaders who still harbor doubts about the serious nature of the cyber attack campaigns today targeting their companies should take a close read of an alert recently issued by the U.S. Department of Homeland Security (DHS) and the FBI. The document, officially called a Technical Alert, details what it calls an ongoing and persistent cyber attack campaign that has been underway since at least May of this year and that targets “critical manufacturing sectors” as well as government entities and organizations in the energy, nuclear, water, and aviation sectors, according to the report. Read More →

Posted by Jeff Moad on Nov 10, 2017
Views: 3354
dbrousell
Digital Transformation: The Key to Competitiveness?  in Factories of the Future

Speakers at the third annual Smart Factory World Symposium debate whether the U.S. manufacturing industry is still competitive as well as the challenges and opportunities of embracing Manufacturing 4.0, the next wave of industrial progress. Read More →

Posted by David Brousell on Nov 06, 2017
Views: 9617
admin
Firstronic Plant Tour: Aligning a Manufacturing Organization Behind a Data-Driven Approach  in ML Council

"It was after the downturn in 2010 when we decided to shed 60% of our customer base." John Sammut, CEO of electronic manufacturing services provider Firstronic told members of the Manufacturing Leadership Council at a recent plant tour at his company’s Grand Rapids, MI, plant. How many CEOs have you met that would walk away from 60% of their customer base? Regardless of the scale, this is a bold move. Done for the right reasons with the right focus, these pruning measures can position the business for the right type of growth. Here is my take on how Firstronic’s market insight, organizational alignment, and customer focus paved the way for a great turn-around story. Read More →

Posted by Paul Burgo on Oct 18, 2017
Views: 7186
PTate
Share Your Insights on Manufacturing Sustainability 4.0  in Sustainability

The Manufacturing Leadership Council invites you to participate in this year's Manufacturing Sustainability 4.0 Research Project. The results of this survey will be published in the December 2017 issue of the Manufacturing Leadership Journal. Read More →

Posted by Paul Tate on Oct 16, 2017
Views: 7688
dbrousell
CHINA JOURNAL: After the Trip, Reflections on China  in Industrial Policy

After a 16-day, four-city trip to China, ML Council co-founder David R. Brousell reflects on what he saw and learned about China and the country's manufacturing direction. Read More →

Posted by David Brousell on Oct 15, 2017
Views: 3004
jmoad
Firstronic Plant Tour Shows that M4.0 Is About More than Digitization  in ML Council

We at the Manufacturing Leadership Council are of the belief that the journey to a next-generation manufacturing model isn’t just about aggressively adopting emerging digital technologies. Yes, IIoT, advanced analytics, modeling, smart products, and machine learning technologies are emerging as important components of M4.0 transformation, giving manufacturers unprecedented power to optimize operations in response to or even in advance of market and other changes. Read More →

Posted by Jeff Moad on Oct 12, 2017
Views: 3858
PTate
Europe Launches Digital Manufacturing Innovation Hub Network To Boost Industrial Digitization  in Factories of the Future

In a bid to accelerate the European manufacturing industry’s journey to a digital future, the European Union’s Institute of Innovation and Technology’s digital division (EIT Digital) has launched a new initiative to provide European manufacturing companies with easier access to the technological facilities and advanced skills of the multiple manufacturing innovation hubs now in place across the region. Read More →

Posted by Paul Tate on Oct 11, 2017
Views: 3908
dbrousell
CHINA JOURNAL: Analytics, Digitization, and AI Dominate Day 2 at MIF2017  in Transformative Technologies

The second and final day of MIF2017 focuses on analytics and digitization, and includes presentations from ML Council members and an award winner. Read More →

Posted by David Brousell on Oct 01, 2017
Views: 3787
dbrousell
CHINA JOURNAL: From Mass Production to Quality Global Brands  in Factories of the Future

On the first day of the MIF2017 manufacturing conference in Tianjin, Chinese manufacturing executives say they are determined to change China's manufacturing image from a mass producer to one based on high quality brands. Read More →

Posted by David Brousell on Sep 29, 2017
Views: 4451