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Business Reporter

Digitalising the industrial machinery sector

At a breakfast meeting at the Goring Hotel in central London, hosted by Siemens and the Business Reporter team, 15 senior business leaders gathered to discuss the future of the industrial machines industry and how it’s being transformed by digitalisation.

Industrial machinery is a diverse industry and the participants at the breakfast reflected this, representing very different sectors including aerospace, construction, luxury retail and packaging. The businesses represented ranged in size from international conglomerates to UK small businesses.

Despite the difference in the participants, one thing was very clear: they all faced very similar challenges and the opportunities that digitalisation can deliver were available to all, irrespective of size or industry sector.

In essence, digitalisation involves capturing, processing and sharing data more easily, more quickly, and more effectively. Ultimately, business processes become more efficient.

But while cost is often the main driver of digitalisation, with organisations using technology to implement savings through just-in-time inventories or predictive machine maintenance, technology is more powerful when it is used to enable businesses to develop stronger products and services.

To read more about what was discussed during the meeting and the conclusions that were drawn please download the report using the form on the right.

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