Boston Consulting Group surveyed over 300 German and U.S. manufacturing executives about their plans for applied digital solutions. Combined, only 17% of German and U.S. manufacturers were, so far, using such technology, including Internet of Things, in their factories. However, while 40% of German companies plan to invest in digital solutions in the future, only a quarter of American executives said they plan to do so. Also, 14% of German manufactures said they were using autonomous robots and assistance systems compared to just 8% of U.S. companies.
The report said that Germany’s enthusiasm for IoT is largely being driven by their need to overcome challenges of high labor costs. “These factor costs encourage companies to strive for greater productivity and, thus, promote faster adoption of new technologies,” the report said.
It’s not surprising that German manufacturers are leading the charge in IoT. An article in InTech Magazine points to Germany’s founding of Industry 4.0 as a holistic automation, business information, and manufacturing execution architecture. German strategies emphasize cooperation between industry and science to promote a closer link between knowledge and skills. The implementation of Industry 4.0 is largely being driven by IoT, including open software platforms, open communications and powerful processors. “Cyber-physical systems” (CPS) help drive interaction between physical architecture and computing, which includes embedded intelligence at all levels.
Thomas Pilz, managing director of automation safety firm Pilz, told IndustryWeek that the “stakes are high” for Western companies to invest in Industry 4.0 technology. Yet Pilz’ U.S. manager Mike Beerman said that many American customers were taking a “wait and see” attitude toward new technologies.
“They want to make sure that this actually makes good business sense,” says Beerman. “Over the course of time, they will be convinced, just as they were with safety. It will take a little more time in the United States… Europe got a little bit of a head start on us.”
The report noted that as firms are starting to relocated factories from Asia to their biggest sales market, manufacturers are increasingly finding cost savings by using things like industrial robots. They also are increasingly turning to wirelessly connected machines to automate processes and improve output. Boston Consulting Group anticipates that global IoT spending will surge from $29 billion in 2015 to $70 billion in 2020.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
