Investing in digital operations can deliver impressive results—for instance, production efficiency gains of 15% to 20% as well as improved manufacturing flexibility and product quality. Those returns dwarf the average 2% to 4% production efficiency gains from standard continuous improvement methods. To get the most from data, companies need to link data-gathering technologies and tools with their long-term strategies.
Read the Bain article: Industry 4.0: Getting Digital Manufacturing Right
Joe Terino and Peter Hanbury are partners with Bain & Company’s Performance Improvement practice. Joe is based in Bain’s Boston office, and Peter is based in the firm’s San Francisco office.
Jon Sobel is cofounder and CEO of Sight Machine, a leader in manufacturing analytics.
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