JULY 20238MANUFACTURING TECHNOLOGY INSIGHTSIN MY OPINIONThe distribution and services industry is currently experiencing a pivotal turning point, marked by qualitative and quantitative measures of transformation. Multiple disruptive forces are affecting the industry and its stakeholders, as evidenced by financial performance metrics. To successfully emerge in the industrial market of the future, companies must not only acknowledge these disruptive forces, but also recognize the opportunities they present for differentiation and growth. They must be proactive rather than reactive, anticipating and shaping customer needs and delivering solutions to problems that customers may not even be aware of. Companies that adopt this strategic approach will establish themselves as industry leaders.To stay competitive and succeed in this new market, companies must keep up with technological trends and ensure streamlined and effective implementation while creating an ecosystem that fosters a long-term, symbiotic engagement with its customers. Wajax, for instance, has taken steps to address this ecosystem challenge by providing a well-connected experience for its end-users through its TechIQ platform.10 TRENDS POISED TO SHAPE OUR INDUSTRYHere are some insights on the trends that are likely to shape our industry in the coming years:1. Customer Expectations - In the industrial services business, providing a superior customer experience has become increasingly important. Customers now expect personalized service, convenience, and digital tools that they have already become accustomed to in their personal lives. To meet these expectations, service providers must first understand their customers' journeys, which involves knowing the customers, understanding their preferred methods of interactions, identifying pain points, and providing a combination of analog and digital solutions. Human expertise must be leveraged as a differentiator to provide an optimal experience. By understanding their customers' journeys, industrial service providers can deliver an impeccably satisfying experience that sets them apart from competitors.2. Connected Plant - Organizations must focus on connecting people, systems, and equipment to offer a comprehensive solution. This requires leveraging a range of technologies, including AR/VR, IoT, e-commerce, APIs, and more. By integrating these technologies, organizations can create a seamlessly connected experience that allows for real-time monitoring and data analysis, enabling predictive maintenance and optimization of equipment performance.3. Cellular-Based Sensors - As organizations increasingly turn to IoT sensors to monitor equipment health, connectivity remains a significant challenge. Deploying gateways and setting up TRENDS AND TECHNOLOGIES RESHAPING THE INDUSTRIAL LANDSCAPEBy Sada Haque, Director - Innovation & Technology, WajaxSada Haque
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