After attending the Manufacturer Live Launch on February 21st, it became clear that this is a fantastic time for the manufacturing industry, with many companies launching exciting projects! The manufacturing industry has had a tough time of it recently, but thankfully, it has made a comeback and there are definitely businesses making up for lost time.
Now it’s all about differentiating from the competition and embracing new technologies to increase your advantage, which is why we have created this short guide…
So, how much do you know about what your customers really do with your products? Do you have any idea how they perform on a day-to-day basis – or are you only aware of their performance when things go wrong? If you’re struggling to think of answers to these questions, or you know you have the wrong answers – something needs to change.
The key to increasing your competitive advantage is all about information.
Getting the right information
The information revolution continues, with all new technology focused on giving us access to more information; about ourselves, the world and in business.
How valuable would it be to constantly have visibility of how your products are being used? To have access to data showing their efficiency, their downtime, the environment they’re being used in, what they’re used to create. With all of this information – the list of what you could do is endless…
You can predictively meet business needs through intelligent and automated actions, you can predict, plan for and fix potentially disruptive issues, evolve operations, develop new and more efficient products and delight your customers.
Access to the right information has the ability to completely transform your manufacturing business – cloud and the internet of things is at the heart of this transformation.
Don’t stop at production
I’m sure that you know where this section is going… If you’re familiar with the Columbus blog you will know we are passionate about the process of servitization. Servitization involves manufacturing businesses developing the capabilities that they need to provide services which support their traditional product offerings. If you want to learn more about the process of servitization, read our blog post all about it here.
This is not something that manufacturing businesses have ‘just decided to do’ either, as equipment becomes more complex and high-tech, customers are relying heavily on their equipment manufacturers for service expertise more than ever before.
If customers are expecting an entire solution to their problem, rather than just a product, to be successful and rise above your competitors, you need to adopt this strategy. It doesn’t just benefit your customers, it benefits your business too, and you can read all about that in our blog post here.
Let the technology take care of itself
You might be thinking – all of this sounds great, but implementing all of this will be too difficult. We understand – and that’s why we focus on being the best partner that we can be in transforming businesses like yours. From, advice to implementation to support, we offer it all to ensure any transition you decide to make runs smoothly.
So that you can learn a little more about where your competitive strategy sits currently, use our short assessment tool – it was developed to help manufacturing businesses understand more about their competitive position, and what they need to do going forward. Take the assessment here – we hope you find it useful.