Figure 2: Benefits of Engineering services on Product Launch
A good product is an outcome of an integrated strategy. Some companies may have tens or hundreds of products requiring a solid strategy to manage the complete product portfolio. An effective strategy needs relevant technology standards, partnerships, compliance, and access to the right markets. Success is not only driven by how good the product is, but by the quality of the product ecosystem. Engineering services firms can help by establishing the latest proven strategies in models, frameworks, and product lifecycle management.
Engineering Services in Industry 4.0
Engineering services partners can deliver particular value for companies working with Industry 4.0 principles. This new industrial revolution is creating a fundamental change: merging the physical (devices) and virtual (software systems) worlds. In this merged world, products and their means of production get networked and can “communicate,” enabling new ways of production, value creation, and real-time optimization. While productivity gains like reduced production time and better utilization are Industry 4.0’s more commonly known benefits, the approach has an impact in a number of other significant ways.
With enhanced production time, increased asset utilization, and augmented inventory management, productivity gains will be realized. The use of sensors to monitor production processes and correct errors will improve product quality. Machines and robots will be smarter and more flexible, able to execute various production steps. And all of these benefits will result in faster time to market.
Additional advancements will be seen throughout the work environment. Automation will improve safety and ergonomically adapted workstations will promote better working conditions. Collaboration will increase with the availability of more data and optimized use of resources will boost environmental protection. All of the new technological gains will support further innovation.
Companies will find Industry 4.0 challenging, as new skill sets and insights are required to adopt these profoundly different technologies. Engineering services firms, having worked with organizations around the world, offer unique perspectives on solutions that use these new technologies. Those perspectives help product companies in their journey to achieve a networked state of cyber-physical systems with the associated data infrastructure.