4 Basic Skills Help IM&C Industry Succeeding Digital Transformation

Nowadays, companies in the IM&C Industry (short for Industrial Machinery & Components) are under the wave of digitisation transformation and facing huge digital challenges, including Industry 4.0, big data, artificial intelligence, and cloud computing. The CEOs are worrying about how to accelerate the development of new business models and improve product experience; The CFOs are thinking about how to minimise costs and optimise working capital; The CIOs are focusing on building integrated management with the end-to-end integration for the future IT system; The sales director are facing the challenge of building a new business model. In fact, the digital challenge is not only in the IM&C field but also in the entire manufacturing industry. How to react then? Firstly, what are the biggest challenges for digitisation? The IM&C Industry is facing challenges mainly from 4 aspects: Products, Customer Experiences, Business Chains, and Services. •From traditional product to digital smart products; •From traditional customer experiences to personalised experience; •From traditional manufacturing to smart manufacturing (digital supply chain & smart factory); •From traditional services to digital services and service-centric products and solutions. Secondly, how to achieve digitisation? When traditional IM&C manufacturing encounters the challenges of digital intelligent manufacturing, a better functional ERP system is a must, which is capable of improving the customer experience, turning the traditional products intelligent, connecting logistics with the entire business chain wisely, and developing service-centric products and solutions based on the digital services of the IoT and data. In the IM&C field, whether equipment manufacturing or component companies, digital transformation/innovation is a continuous journey. Digital transformation expert Acloudear suggests, large-scale mechanical component manufacturing companies can choose digital technology to reconstruct the business model and strategy, while small and medium-sized mechanical component companies can choose a few priorities to break through without changing the whole business plan. Why SAP? To calmly deal with digital challenges, IM&C companies not only need to clarify their own development strategies but also need to find suitable ERP systems and excellent implementers. In this case, we might as well use the choice of discrete manufacturing companies in the Forbes 2000 as a reference. SAP is invincible in the Fortune 500 market since 80% of such companies cannot think of anything else. Ranked 25 at the ‘World’s most valuable brands’ list by Forbes, SAP has gone beyond the basic deliverable of simple ERP to a more service-oriented architecture so that to provide adaptive business solutions to enterprises. Why Acloudear? Base on the SAP Cloud solution, Acloudear has launched two major solution packages focusing on the digital transformation of internal discrete manufacturing enterprises in mechanical equipment manufacturing, mechanical parts manufacturing, and auto parts manufacturing. The two solution packages have obtained a license from the SAP Global Partner Solution Centre and launched on the SAP APP Centre. Equipped with SAP Cloud ERP products, it uses API/CPI and other technologies to achieve seamless integration off MES, WMS, BI, and other systems around the enterprise. With one management platform for sales, procurement, production management, finance and management accounting to ensure the transparency and uniformity of all data. Successful Story Tianjin Lihetai Machinery Co., Ltd., established in May 2014, is committed to the development, production, and sales of petroleum equipment and accessories, precision metal castings; a professional oil pump manufacturing enterprise for the manufacture of electronic equipment, mechanical equipment, petroleum equipment, molds, and metal products. During the period of rapid expansion, extensive management cannot meet the needs of current and future challenges. The company requires a high-speed operation, transparent management, and scientific decision-making. Through the SAP ByD discrete manufacturing solution package, Acloudear helps the company to accomplish integrated management and digital transformation of business and finance. Solution overview “The most intuitive aspect of ByD’s successful launch is the integration of inventory and business and finance. Inventory data is more accurate, providing timely and accurate information support for finance. In terms of finance, the report is better to use than before, and the integration and relevance are greatly enhanced. For example, open the sales revenue data, and the corresponding cost is automatically generated, which is clear at a glance. Related information can be reflected in it. Very convenient. Change the previous shortcomings of multiple reports and scattered data,” said Mr. Han, CEO of Tianjin Lihetai Machinery Co., Ltd.

This article "4 Basic Skills Help IM&C Industry Succeeding Digital Transformation" by AcloudEAR. We focus on business applications such as cloud ERP.

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