Glossary

Digital transformation

Digital Transformation in manufacturing is about developing digital capabilities while adopting Industry 4.0 paradigm, to gain an edge in today’s competitive market. The increasing competition in the manufacturing industry makes organizations to focus on cost reduction, improving customer experience and increasing profitability. Advanced manufacturing companies are implementing new technologies such as Artificial Intelligence (AI), Internet of Things (IoT) and data analytics disrupting business models with new value propositions, to drive growth and profitability. Before starting the digital transformation process, it is important to set a plan in place for secure, smooth and effective implementation without disrupting your manufacturing organization.

The digital era is characterized by fast development, growth, innovation, and disruption. Organizations that want to survive must be ready to adapt to the new digital landscape. However, digital transformation process involves more than just implementing new technologies, investing in tools, or upgrading existing systems. In order to remain viable and competitive, advanced manufacturers must stimulate innovation itself.

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