The larger corporations have historically had an edge in terms of scaling their operations, providing them with an untenable advantage in terms of competitive advantage. Th benchmark organizations such as Toyota or Danaher have managed to consistently improve upon their operations. This advantage is evaporating a lot of the times during the ongoing digital age. Today, the most successful ones are those that are mining enormous chunks of data available to gauge genuine business intelligence and communicate accordingly with the market. The best use of such raw data is emerging out of the Internet of Things (IoT). There exist four dimensions to IoT’s impact which are – connectivity, speed, accessibility and “anchoring”. There have been some early adopters or winners of this IoT race such as oil companies monitoring capital assets, at far-off locations using sensor data. Auto markers are using assembly-line robots connected by a central controller.

Source:https://www.mckinsey.com/business-functions/operations/our-insights/how-the-internet-of-things-will-reshape-future-production-systems

Uploaded Date:28 November 2017