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But it is realistic to envision the growth of high-value-add, high-skill, high-wage manufacturing industries like the microprocessor and computer-networking businesses that Intel and Cisco launched in the 1980s. Testing in these cases was not previously possible due to the cost of an on-site operator.
Finance teams, which are not known for their flexibility to begin with, often have trouble changing their traditional planning, budgeting, and forecasting processes to accommodate radically new IoT business models. Operations. When product-based companies add services and connectivity, operational requirements increase.
However, in recent years a parallel explosion of digital tools and services has taken place in the manufacturing realm as well, drawing in computer-assisted design and 3D printing equipment to open-source operating systems, the cloud, and the Internet of Things (IoT). Second, a number of important inputs have gotten cheaper.
Last year, networking giant Cisco Systems worked with one of its contractmanufacturers in Malaysia to deploy 1,500 energy and temperature sensors on its manufacturing equipment. It’s time to move energy into the C-suite so executives can manage this critical component of operational performance in a more strategic way.
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