The Factory of the Future is coming, and it's being built on technology, innovation, and advanced manufacturing capabilities. But what is it, exactly? And what are the technologies you need to know about to help your manufacturing company embrace the change?

The definition of the Factory of the Future is evolving; even the name is in flux. Some call it Smart Manufacturing, Industry 4.0, or the Digital Enterprise. While the terms may vary, there's one thing that is clear: The Factory of the Future is the product of fast-changing disruptive technologies hitting manufacturing like a cyclone. Information technology and operational technology are both seeing drastic innovations and the convergence of these two forces is creating a paradigm shift. Manufacturing is experiencing the fourth industrial revolution.

Probably one of the most famous quotes in marketing comes from Harvard Business School Professor Theodore Levitt: “People don’t want to buy a quarter-inch drill. They want a quarter-inch hole!”

That, in a nutshell is servitization.  Turning a traditional product offering into a service. This new customer-centric feature becomes a differentiator, adding value, building relationships, preventing commoditization, and adding profits. Data insights, generated from the Internet of Things (IoT) are often at the heart of the new service offering. Sometimes the new offering is used to generate revenue, replace the old product-centric business model, or be a complimentary add-on designed to boost loyalty.

Innovation is a central component of the manufacturing industry. It can take many forms and address many functions. It can be a simple tactic for improving shop floor operations. It can be a concept for a new type of product or service. It can be a revolutionary approach that completely disrupts the way you do business. But all innovations start much the same way: as an idea.

How does innovation fit into your growth strategy?

Manufacturers everywhere have an extremely underutilized employee. This employee is a robust repository of institutional knowledge, facts, and random trivia. However, this employee is full of latent potential that hasn’t yet been tapped, and they are ready to do so much more.

Ok, so maybe this is a quirky metaphor, but—in case it wasn’t clear—this underutilized employee is your organization’s data. And Data could be doing so much more to help your human employees make better decisions.

For many manufacturers, the collected data is sitting in various databases and spreadsheets, waiting to be called upon, sorted, and analyzed to inform decisions across your organization.

Launched annually on the first Friday in October, and with events continuing throughout the month, MFG Day helps show the reality of modern manufacturing careers by encouraging thousands of companies and educational institutions around the nation to open their doors to students, parents, teachers and community leaders. Over the next decade, manufacturers will need to fill 4.6 million jobs—jobs that are high skill, high tech and high paying. These career opportunities include high pay and exposure to cutting-edge technology and innovations. MFG Day is a time for manufacturers to open their doors and open minds, to connect the future workforce to potential employers and change the narrative around manufacturing.

In this podcast, Infor’s Guy Courtin and Christine Barnhart discuss how manufacturers are adopting learnings from B2C supply chains to be more responsive to end customer needs. From AI and machine learning to greater digitization of the supply chain, modern manufacturers must become more nimble and responsive—creating a true multi-enterprise network to meet their customers’ needs.

Establish a foundation for digital transformation:

With the world changing faster than ever before, companies need to keep up by becoming more agile and adopting new technology to stay competitive and stand out from the competition. Moving to the cloud is one way that can help you stay ahead.

Infor M3 Cloud delivers software as a service, offering complete flexibility in operations, technology, and scale. As a multi-site, multi-country, and multi-company ERP solution, M3 Cloud empowers your organization to easily adapt to changing business needs.

Independent Computer Consulting Group (ICCG) a Global Information Technology Solutions Provider for the Enterprise today announced the appointment of John Greenaway as Chief Revenue Officer – EMEA, effective immediately. Greenaway previously served as a Channel Director at Infor for the last 10 years, where he was responsible for growing revenue across EMEA. As Chief Revenue Officer - EMEA, Greenaway will champion ICCG’s efforts to expand its software consulting and implementation footprint into Europe, the Middle East, and Africa.

Independent Computer Consulting Group (ICCG) a Global Information Technology Solutions Provider for the Enterprise today announced the appointment of Annette Cunningham as Chief Operating Officer – EMEA, effective immediately. Cunningham previously served for 4-1/2 years as a Regional Vice President of Sales at Infor managing a team of industry-leading sales people and channel partners. As COO, Cunningham will lead ICCG’s efforts to expand its software consulting and implementation footprint into Europe, the Middle East, and Africa.

The complexities of running a business with enterprise resource planning software aren’t lost on today’s executives. But ERP is at the center of everything a company does. It tackles the core tasks of managing and integrating core business processes in real-time. The enterprise software typically addresses project management, scheduling, procurement, production, sales, order management, distribution, billing, shipping, logistics, and supply chain management.

eWeek released a list of their “Top 10 Enterprise Resource Planning Software Providers." If you haven’t seen the article yet you can read it here.