What is Digital Transformation?
Digital transformation (DX) is a broad business strategy, applicable across all industries, to solve traditional business challenges and create new opportunities through the use of technology. It requires acceptance of entirely new ways of working and delivering value to customers.
Why is digital transformation a business imperative for industrial enterprises?
The industrial markets have millions of jobs unfilled due to a growing skill gap
Risk and Cost Pressure
Global companies are facing increasing macroeconomic and cost pressure
Traditional enterprises are threatened by the rise of digital business models
The pandemic has proven to be the biggest challenge and accelerator for smart manufacturing and the digital transformation of industry. Many manufacturers have accelerated their digital transformation journey by deploying new technologies, such as AI tools, edge, data lakes, new connectivity standards, advanced analytics, and robotics. However, digital transformation goes beyond tools and technologies, it includes people, processes, and things. Additionally, manufacturers from different industries are leveraging the information and data from a wide range of manufacturing processes to structure new business models that improve operational efficiencies and lower costs.
Steps For Creating Digital Transformation Roadmap In Manufacturing
The process of creating a digital transformation roadmap in manufacturing can look very different for each organization. It very much depends on where exactly the company stands in its digital journey — is it starting from scratch or is it looking to further leverage emerging technology advancements? Regardless, in order to successfully create your digital transformation roadmap in manufacturing you need to go through the following steps:
1. Clearly Define The Company’s Position and Digital Strategy
Before undertaking any type of transformation, organizations should have a very clear vision of what they are trying to achieve with it. Being able to communicate the company’s goal with partners, employees, and clients is crucially important for the leadership team. Only then they can ensure their vision is understood and supported by everyone within the organization. Ideas that resonate with your team members, are feasible and have the potential to achieve sustainable change, which will drive your organization’s success.
2. Define Your Financial Baseline
An essential moment when creating your digital transformation roadmap is taking the time to properly and realistically plan your budget. Sometimes brainstorming and coming up with ambitious ideas about the digital future of your organization can come easily. However, once you add up everything, those ideas may not be feasible due to budget restrictions. You should be very clear about what is possible and what should be included in the scope based on your resources.
3. Ensure Internal Agile Processes Are Set In Place
Implementing Agile methodologies into the digital transformation in manufacturing companies as well as in the end-to-end internal processes can have great benefits on flexibility, efficiency, and productivity. Agility allows enterprises to create products and services at a much faster pace, dividing the process into smaller iterations.
4. Conduct Talent and Technology Assessment
Moving into this new chapter of digitalization, you need to assess your organization’s talent and technology capabilities. A key factor in this transition of processes and business models is the technical and operational expertise within the company. The superheroes of your digital transformation are indeed cloud computing, data analytics, connected devices, Internet of Things (IoT), robotics, etc.
5. Choose The Right Digital Transformation Partner
Once you have completed your in-house talent assessment, you might have realized that it simply wouldn’t be able to suffice and manage such an ambitious change as digital transformation. Therefore, you might find yourself and your organization in need of a trusted collaborator who will be there along the way and will support you through the digital transformation journey.
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