The service side of Konecranes makes up 45% of their total revenue. With such an important part of the business, it made sense to expand and advance this offering with the use of digital technology.
By leveraging IoT, sensory technology and intelligent data systems, Konecranes have developed an integrated, smart business strategy that allows better connectivity with their customers and above all a higher profit return, making more out of their service model.
With over 12 years in Konecranes, Juha, the CDO, who has seen and implemented many changes in their IT and Data strategies, presents Konecranes' IoT and Data journey.
This session covers:
GE Aviation’s data was residing in multiple places globally and within each place was a complete mixture of structured and unstructured formats. Ultimately, this meant that trying to combine all of this information together into one place to heighten speed and visibility was impossible and as such, was hindering the overall efficiency of the organization. The traditional PLM platform they had invested in was failing them; there was no way that this platform could capture the entire enterprise-wide process and so they began to look for a solution that could.
Enter the ‘digital thread’. Leveraging on GE’s success in the Industrial Internet market, they began to translate successes from their parent company, into their aviation business. This session covers the strategic and technical steps for success:
Video mentioned in presentation can be found on YouTube here.
Allowing revenue streams to stop at point of sale is, for many, a thing of the past. Providing a product and an attached service contract however, maximizes the bottom line while maintaining customer engagement and in theory, loyalty. After all, if you made the product and have all of its related data, there is no one else better placed for the job of servicing it.
But this needs to go beyond a warranty and the real-time and continuous connectivity opportunity offered by the industrial internet provides a method of constant information generation, collection and analysis so a full prognostic operation is underway at all times. By leveraging existing product data and the data being generated in the after-market, a Digital Product Twin can be created that allows for the continuous monitoring of its physical partner and allows you to always be one step ahead of failure.
Companies invest and deploy lifecycle management technologies as a supporting infrastructure of a true 'end-to-end' vision. On paper this is all good and well but in practice, this transparency is actually unachievable in most cases and leads to a siloed value chain: PLM for design of product, ALM for development of software and SLM for management of service. However, with the introduction of IoT and related platforms, the model is changing. In this session, Professor Eigner discusses how you must change in order to reap the benefits.
The IoT is bringing about unprecedented opportunity to accelerate innovation, meet increasing consumer expectations and gain advantages in a new era of competition. But taking advantage of this opportunity requires thinking about products in new ways. IoT products are more than stand-alone devices - they are complex systems that interact with other products and systems, and involve new ways of user interaction, including web and mobile. Designing products that provide a digital experience for the end user increases the complexity in an already challenging product development process.
In this session, you can learn about the business opportunity for manufacturers associated with the IoT. We hear how Raytheon is using the latest tools and technologies to implement model-based engineering (MBE) and linking lifecycle data to:
In this interview, Peter Hirst sheds some light on the internet of things. Specifically he addresses its variety of monikers, whether the opportunity lives up to the hype, the talent challenges that exist, and how companies need the C-suite to engage to get results.
STERIS Corporation, a global $3.35B company servicing the healthcare, life sciences and other industries, has multiple lines of business, including the manufacture and servicing of capital medical sterilization equipment installed in hospitals, pharmaceutical companies and research laboratories. STERIS has embarked on an Internet of Things (IoT) project to send cycle and alarm information back to a central office, and to dispatch field service technicians to proactively service equipment.
John Rogers and Will Valencak from STERIS’ ProConnect IoT Team joined PI to discuss:
You may not be aware that your product organization suffers from severe myopia. Once your product is sold or installed in the field you lose sight of its performance, how users are interacting with it, and how well it meets your customer expectations and your business portfolio market targets. In all likelihood, your organization’s myopia had set in much earlier, during the collection and formulation of market and functional requirements.
The Internet of Things and the digitization of the product value chain can help overcome much of this myopia. IoT-enabled new product development and introduction (NPDI) radically redefines how well we understand current products and customers, and how we use this insight to accelerate the innovation and development of new products and services
In this session Joe covers:
In this session, Joe Barkai looks well beyond the simple concept of connectivity to delve into the specific ways in which new value is being created for manufacturers and how that will alter the most basic economics of how we live, work, and play.
In late Q4 of 2015, Joseph Lee took on his role as Sr Director, VP Cloud Strategy as part of the Emerging Technology Group that reports into the CTO. The purpose of this new group is to examine how technologies, such as the cloud and IoT, might help the company evolve their product design, capability and offering, re-think their processes, better engage with their consumer based on enhanced connectivity and ultimately, help to differentiate themselves.
In this session, Joseph discusses the strategic, organizational and technical considerations needed to enable a successful connected product program, including:
Tristate Holdings, a $300 Million revenue manufacturer, took a visionary leap from traditional technology to completely AI driven tech. This leap in technological innovation immediately realised a 1.3% gain in revenue.
In this session, Wilson Poon gives a blow by blow account of how AI, Big Data and IoT Mobility transformed their business and how they too could help your business.