Connected enterprise allows technology & humans to work together to create more proficient and cost-effective business methods. Conventional plant floor functions rely on manual and paper-based methods for almost all the aspects of business. Right from inventory management to quality checks, everything is done manually. These methods prove to be inefficient and error-prone. Hence, conventional methods can generate incorrect data. However, companies can overcome inefficiency with a smart connected enterprise. Technological improvements including analytics and cloud computing are fueling investment in these systems. Supplier portal, improved decision-making, and mobile access are the 3 major components that all manufacturers require for a smart connected enterprise.
An enterprise cannot be connected without any mobile access. Mobile access offers omnipresent connectivity to the enterprises. Mobile access is essential to connect on-site and off-site data to other elements of an enterprise.
Centralized management of data ensures that all the staff is looking at the similar information at the same time. This ensures efficient decision-making based on real-time data. It helps improving quality and facilitates process enhancement.
Supplier portals provide all the vital shipment details to the supply chain members. This allows enhanced shipping experience with timely product delivery. With complete transparency about the manufacturing process; customers & suppliers can benefit from efficient communication and peaceful working relationship.
Future Market Insights:
According to a report published by Grand View Research, Inc.; the global connected enterprise market is expected to witness a substantial growth over the forecast period (from 2014 to 2025). Increased adoption of automation along with the proliferation of various connected devices can impel this expansion. High research & development activities to deliver unique products may also boost market growth over the years to come. These factors are expected to provide tremendous business opportunities to the key market players.
Connected solutions are being adopted to generate new revenue streams and to improve profit margins. They enable real-time monitoring of assets and increase operational efficiency of the enterprises. PTC Inc.; IBM Corp.; Microsoft Corp.; Honeywell International, Inc.; and Rockwell Automation, Inc. are some of the major companies operating in the global market.
In-depth research report on connected enterprise market: