10 Stats about Digital Transformation that Every Plant Manager Should be Wrestling with Now

1. Peer Adoption

According to industrial manufacturing sector survey respondents, Industry 4.0 implementations are expected to increase from 45% to 77% in five years

Industry 4.0 is coming, whether you’re ready or not. It’s your decision whether you want to be left in that 23% in five years.

2. Savings

The industrial manufacturing industry expects a cost reduction of 3.6% per annum ($52 bn) until 2020 by implementing Industry 4.0

Between making up for lost time and error costs, billions of dollars can be saved by implementing Industry 4.0. Don’t let this opportunity fall through the cracks.

3. Culture

93% of companies believe that Industry 4.0 is really transforming their manufacturing future

Digital transformation is not a tiny change, it is an entire change to a company’s infrastructure, but it can begin with relatively easy steps (hint: Parsable)

4. Innovation

80% of companies believe that identifying opportunities to digitize enterprise is a critical part of the innovation process

How are you supposed to innovate without digital transformation? Figuring out those opportunities to digitize is the key to innovation.

5. Quality

42% of Industry 4.0 adopters improved overall product quality

Industry 4.0 precision can catch little details that could reduce product quality.

6. Productivity

60% of Industry 4.0 adopters said digital technology helped to boost productivity

Between digitizing processes and easier forms of communication, digital technology can help pinpoint certain areas that need improvement.

7. Downtime

Factories lose 3.18 hours of minor downtime per day. Each less than 10 minutes (Hidden Downtime)

That is 15.9 hours a week and 63.6 hours a month. Within those 10 minute periods, you don’t realize how much money and productive time you will be wasting in the long-run if you don’t precisely measure it (Hint: Parsable ;) )

8. ROI

55% of companies expect Industry 4.0 investments to be paid back within two years.

With all of the money and time Industry 4.0 innovation saves, the beginning investment costs can be easily paid back.

9. Failure

Factories lose 2.64 hours per day to Equipment Failures

Industry 4.0 technology can help detect potential problems with equipment and processes so you can catch them before it’s too late.

10. Results

Parsable Customer Results: 12 week time-to-value first deployment, 6 weeks for third deployment

Starting your digital transformation doesn’t have to be tedious. Find out how you can get rolling on your path to digital transformation by registering for a demo.