Technology, especially information technology, is transforming the entire industrial equipment industry and leading to unconventional growth. Digitizing the engineering, manufacturing and supply network is key. Most supply chains today are no longer fit to compete in a digital world. Linear and static, they hamper growth opportunities and lead to cost issues that threaten competitiveness. Industrial equipment companies must start managing the supply network as a digital ecosystem in order to equip the organization for growth, enabling quick movement into new geographies, support for new value delivery approaches and creation of innovative products and services.
This digital ecosystem—as well as other factors such as industry consolidation and marketplace alliances—puts pressure on the IT environment of industrial equipment companies, particularly in the area of applications.