A Digital Approach to On-Demand Production

You can’t afford to delay implementing a digital strategy

Content is from a recent report by GE | Link



Traditionally, successful production has relied heavily on skilled personnel. Experienced employees installed equipment and implemented processes. Then they relied on their expertise and intuition to keep everything running at peak efficiency. But times have changed. Today, data is king.


Over 80% of companies say data analytics is one of the top three priorities for their company. (1) And the failure to implement robust digital capabilities into your production facilities puts you at a distinct competitive disadvantage. In a recent study, 84% of industrial companies said they believe data analytics have the power to shift the competitive landscape. (2)


In fact, the number one fear of companies being unable to implement a data-driven strategy is that competitors will gain market share at their expense.(3) Today, it’s the refined collection, analysis, and application of data that optimizes efficiency and productivity. Data-driven predictive asset maintenance can save up to 12% of scheduled repairs, reducing overall maintenance costs up to 30%, and breakdowns up to 70%.(4) The Aberdeen Group reported that 68% of manufacturers suffer from excessive costs related to materials, labor, packaging, and shipping.(5)


For the most part, these added expenses are due to waste resulting from rework, un-scheduled asset downtime, maintenance, and late shipments. Predictive analytics have the power to help reduce all of these issues. In fact, one performance chemical company reports increasing capacity by nearly 20% after adopting a predictive analytics model.(6)


Read full report | Link


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(1) Industrial Internet Industry Report, GE and Accenture

(2) Ibid

(3) Ibid

(4) Operations & Maintenance Best Practices: A Guide to Achieving Operational Efficiency, Release 3.0, Sullivan, Pugh, Melendez and Hunt, Pacific Northwest National Laboratory—U.S. Department of Energy

(5) The Aberdeen Group

(6) GE Digital website, https://www.ge.com/digital/customers/food-beverage-cpg

(7) Industrial Internet Industry Report, GE and Accenture

(8) Ibid




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