The Value of Interconnectedness: Toward a new kind of industrial company

Connecting a physical device to the digital world can create something entirely new. Compare a traditional landline telephone with any one of today’s fully connected smart phones, and you have an idea of the potential.  The same can be said for the potential of the connections available in the Industrial Internet to change the business landscape for industrial companies.

In this white paper, Marco Annunziata, Chief Economist and Executive Director, Global Market Insights at General Electric, describes how the convergence of digital information with physical plants and equipment is opening new dimensions in the way industrial companies operate. And how this change goes on to enhance the value those companies can provide to their customers and shareholders.

Excerpt from the white paper:

Connecting the digital world of research, design, engineering and manufacturing enables a company to drastically reduce the time to introduce new products, leading to faster responses to customer needs and higher engineering productivity. Translating real-time factory and supply chain data into insights makes those factories and supply chains able to respond much faster to shifts in customer needs and external shocks. Linking engineering, supply chain operations, and services data through the cloud means operators can optimize factories and products in real time and continuously improve them throughout their lifecycle. As a result, machine uptime, throughput, and inventory turnovers increase. Higher responsiveness leads to higher sales.