Digitization - Don't lead but Transform

N Jayantha Prabhu, CTO, Essar
Monday, December 28, 2015
N Jayantha Prabhu, CTO, Essar
Headquartered in Mumbai, Maharashtra, Essar is a provider of Steel, Oil & Gas and Power. The company also serves Shipping & Logistics, Communications, Projects, Ports, BPO and Telecom sectors.

Trust that's what Digitization can do to an Enterprise!!
Most of the manufacturing companies make the mistake of believing that new digital technologies are best suited to consumer-oriented companies. But thinking that way is fast becoming a losing proposition. From essential needs such as accurate, resilient supply chains to enhancements in product design and production, digital tools have already become critical differentiators. IT has to play a major role in making digitization - a reality.

So, what is this Digitization..It is all about creating a new dimension for improving how enterprise can integrate their activities with their partners, customers and employees. Thanks to new tools, manufacturers are collaborating more closely with key suppliers on the development of parts and systems and gaining better insight into the supply chains that feed manufacturing and distribution. Advanced analytics are aiding in the understanding of market trends and improving demand planning while simultaneously communicating product changes throughout the supply chain.

From manufacturing technologies perspective there are digital advances such as sensors and other machine-to-machine (M2M) technologies - otherwise known as the Internet of Things (IoT) can offer such capabilities as real-time performance monitoring, quality management, and rapid response to product failures.

Going Digital Business intelligence systems, for example, can help companies better understand just how profitable their different product lines are, content and knowledge management technologies can improve the management of intellectual property, and data analysis and synthesis capabilities can help companies cope with the mountains of data generated by the sensors embedded in their factories and the products they build. Industrial firms are investing in digitization opportunities within their sales operations, as well, equipping their field sales teams with mobile devices and visual tools rather than printed brochures. These technologies are helping sales forces quickly configure products as customers require, while providing those customers with greater insight on prices and lead times.

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