IDC Manufacturing Insights outlines the principles that companies must abide by to achieve their full business potential:

• Connecting global stakeholders requires greater standardization
• Adopting virtualization to provide real-time access to process and product information
• Decentralizing intelligence by relying on the Internet of Things and machine-to-machine communication to improve companies’ ability to make local decisions while maintaining centralized control and traceability
• Analyzing machine and plant performance in real time to allow companies to react quickly to make process improvements
• Adopting a service-oriented approach to manufacturing to increase agility when faced with late-stage customer requirement changes
• Leveraging the power of modularity to build new products using standard components to accelerate new product introduction

Register to learn more about today’s challenges for industrial equipment companies.