10/07/2017
* SCP Transforming the Business World *
Smart, Connected Products aka IoT is enabling IT to create value through products
SCP is triggering the transformation in the "VALUE CHAIN" and driving the industry competition
Focus of competitors is shifting away from price, creating higher entry barriers for new entrants, reducing the dependency on the channels/partners, wide opportunities and availability of unique choices to customers, minimal dependency on mechanical components, diminishing need of substitute products/services.
MARKETING AND SALES: Companies have newer ways of doing marketing, product development, promotion etc. Products can now be monitored for their usage, condition and so on, which in turn helps the product development team to upgrade the product. (like Tesla Cars) or come up with new products (like Babolat rackets and shoes)
HR / SERVICE: Roles of executives are transformed. The technician is no longer a technician alone, he can do the servicing as well. Thanks to AR - Augmented Reality. (like Remote Servicing using AR)
PRODUCTION / OPERATIONS: Optimization of the product utility/value. Predictive service and maintenance enhances the capacity uptime and utilization. In case of certain products, actual product received by customer is only WIP and production stops at his place (customization of products like Mobiles)
Business Value created is a whole new generation of a lean system, faster economic growth, higher productivity, new roles and new requirements.
Is that all? Wait, there's still more to discover in the this new wave of technology...
Credits: HOW SMART CONNECTED PRODUCTS TRANSFORM COMPETITION AND COMPANIES - Michael Porter & Jim Happelmann
