The International Data Corporation (IDC) is a global expert on technology markets and information technology. In this white paper, the IDC outlines the state of digital innovation in manufacturing as well as how many of these organisations lack a foundational road map to implement a digital revolution — despite having a clear understanding of the necessity.
In Digital Innovation in Manufacturing: Building the Foundation for Transformation, the IDC provides a glimpse into the real-world adoption of digital innovations by manufacturers. For example, although this sector has spent more than $1 trillion on digital transformations, under 15 per cent of manufacturers have enterprise-wide initiatives, which, as the IDC puts it, is the “only way to truly transform”. In fact, the IDC identifies six target areas for manufacturers to implement digital solutions where manual or paper-based processes are too often present:
In short: Manufacturers have seen the writing on the wall, have tentatively dipped their toes in the water in some areas, but are hesitant to go all-in for all parts of the enterprise. This hesitation creates an opportunity cost to the tune of $4.5 trillion for manufacturers world-wide, which can be seen in increased costs, wasted time, data inaccuracies, poor communication and lack of standardisation. To move forward effectively and efficiently, manufacturers need a well-constructed digital transformation foundation.
Download Digital Innovation in Manufacturing: Building the Foundation for Transformation to read the full report.