What are the obstacles to digital transformation and how manufacturers can overcome them?
New research from Siemens Financial Services has highlighted the top two major obstacles to a successful transition to Industry 4.0 as digital skills and access to finance for the scale of investment. The paper also figures out the main factors that need to be considered in order to create a successful digital transformation plan.
The compelling need for most manufacturers to digitalise and automate their operations is now very widely recognised by the leading manufacturers and specialist management consultants interviewed in this study.
The debate has moved, therefore, from discussing the simple need to digitalise and automate to understanding how organisations create a practical path to Industry 4.0. In an attempt to uncover this path, Siemens Financial Services interviewed manufacturers and expert management consultants in eleven countries around the world6 about the hurdles manufacturers face in the process of moving to an Industry 4.0 model:
- What are their main challenges to digitalisation and automation in practice?
- What are the interrelationships between those challenges?
- Are they technical or cultural?
- How is a successful strategy developed?
- What skills are needed at each stage of development?
- How is that transition financed, and what are the implications for return-on-investment?
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