IDC Manufacturing Insights recently hosted a Web conference focused on the top 10 predictions for the year ahead.
Featuring several senior industry analysts, the session provided organizations with insight and perspective on long-term industry trends along with new themes that may be on the horizon.
The Predictions Web Conference Series is designed to help company leaders capitalise on emerging market opportunities and plan for future growth.
"The manufacturing industry has an established track record of continuously improving productivity and is at the cusp of a new wave of gains that will dramatically restructure value chains to be closer to demand regardless of direct labour costs," said Robert Parker, Group Vice President and General Manager, IDC Manufacturing Insights.
"This is being driven by an 'intelligent economy' where customers are more informed, talent is at a premium, and the time to react to changes is compressed."
"In 2014, companies should put together a set of business initiatives across critical line of business areas such as supply chain, factory operations, product management, and customer experience/aftermarket services, and follow a progression toward the principles of the '3D' value chain, the theme for our 2014 predictions," added Parker.
The IDC Manufacturing Insights Top 10 Predictions for 2014 are:
Prediction #1: Manufacturers will begin to build 3D value chains.
Prediction #2: Operational, information, and consumer technology converge to reshape approaches to technology management.
Prediction #3: Operational resiliency will be the focus of supply chain strategies in 2014 and beyond.
Prediction #4: Supply chain technology investment will involve modernising existing systems, while also trying new approaches.
Prediction #5: The modernisation of the underlying B2B commerce backbone becomes an investment priority for IT.
Prediction #6: Product lifecycle management (PLM) strategies become increasingly global, multidisciplinary, innovation-based, and customer-focused.
Prediction #7: PLM initiatives will focus on value realisation.
Prediction #8: "Servitisation optimisation" will be core to future profitable revenue growth and leading manufacturers will make the necessary investments to enable these strategies.
Prediction #9: On their way towards the factory of the future, 2014 will set the stage for a new manufacturing renaissance.
Prediction #10: Plant floor IT investments will continue to become a higher share of the overall technology investment portfolio.
[Image courtesy IDC.]