It is no secret that competition in industrial and manufacturing environments is fierce.
In this White Paper, we delve into how technological advancements, modern automated equipment, and widespread access to information have leveled the playing field in numerous aspects. Consequently, only those who are truly tenacious can distinguish themselves from the crowd. But there’s good news! By taking advantage of the opportunities created by Industry 4.0 and the Internet of Things (IoT), almost any manufacturer of electrical systems can boost productivity and profitability – provided that some essential guidelines are observed. To optimise the performance of a company, one must scrutinise its processes, particularly processes that have been used with very little alteration over a long period of time.
By combining value-enhancing process steps in engineering, design, work preparation, production and maintenance, it is possible to create a sound foundation for all efficiency improvements. This is the value chain, a business model that describes the full range of activities needed to create a product or service. The overarching goal of a value chain is to deliver the most value for the least cost in order to create competitive advantage.
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