A host of macroeconomic forces are changing the future of manufacturing, and software may be the key to success for companies willing to make the necessary transformations, experts said this week.
Globalization, personalization, digitization, and connectivity, among other forces, are making it necessary for manufacturers to consider new ways of building smart, custom products in order to maintain economies of scale. “The way you get to a market of one is you go the last mile in software,” Jim Heppelmann, president and CEO of PTC, said during a keynote speech at the PTC Live Global 2013 conference in Anaheim this week.
PTC, which hit hard on the theme of manufacturing solutions at the conference, bolstered its point with a study from Oxford Economics. Titled “Manufacturing Transformation,” the study contends that the world’s top manufacturing executives are already changing their strategies to meet the new needs of industry.
“Sixty-eight percent of firms are about to undergo a fairly radical business transformation,” noted Lou Celi, president of Oxford Economics Americas, speaking to industry analysts at the event.