Many companies are currently at the beginning of a long and eventful journey that can be called an AI odyssey. In this Point of View, we present a framework of concepts, ideas, and thinking aids that can help IT executives perform strategic planning and road mapping in the early stages of the AI odyssey.
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Increasing information technology content in manufacturing production facilities calls for a new emphasis on cyber security design in new production units and maintenance in existing ones. Proper design and maintenance principles will ensure business continuity and protect valuable information.
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The exchange of goods, services or assets between entities belonging to the same group of companies is called an intercompany transaction. The core purpose of intercompany transactions is to facilitate coordination, resource sharing, utilisation of economies of scale and efficient cooperation within the group of companies. Quite often, intercompany transaction’s end-to-end processing has been built over time without a comprehensive analysis of the impact on each part contributing to the entity.
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A Manufacturing Execution System (MES) is designed to manage and optimise manufacturing processes, especially in discrete manufacturing and the process industry. An MES delivers many benefits to a modern manufacturing organisation. In this Point of View, we highlight the early steps for building a solid for your MES journey: target setting, solution and supplier selection, prototyping and lifetime cost evaluation.
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The need to streamline business processes and work at an increasing speed is accelerating the demand for automation. Expectations are set to reap the benefits of automation in reduced costs, faster turnaround, and greater use of data. In this Midagon Point of View, we focus on Robotic Process Automation (RPA), its advantages and disadvantages, and what to consider when planning to embark on your RPA journey.
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Enterprises today are very dependent on their information systems and data. The IT environment has also become more complex, increasing the risk of information compromise. Cyber security risks are a fundamental type of risk for all organisations to manage. Potential impacts include higher costs, lower revenue, reputational damage, and the impairment of innovation. Protecting a company and its information assets requires a holistic approach: various security controls and compliance aspects need to be understood and addressed to get comprehensive protection.
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In this Midagon Point of view, we focus on how digitalisation supports production efficiency development and enables the implementation of emerging technologies. All these innovations reshaping manufacturing require the ability to collect, share and process data. The flow of information through each manufacturing stage is necessary for using new technologies. New technologies will help companies tackle challenges in their supply chain and give a competitive advantage against their competitors.
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In this Point of View, we explore the Data Platform concept and how it can improve data-based decision-making and lead to better and new business services. A Data Platform is an essential part of the modern IT owned technology stack, providing vast opportunities for better business performance.
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In the traditional manufacturing context, existing production units always strive for performance improvements regardless of how successful they have been in the past. When recent improvement opportunities have been utilized, new targets are set and new developments planned. The changing business environment makes it necessary to adjust; new technological opportunities will be used by competitors and stakeholder expectations continuously become more demanding.
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In the last few years, industrial sales have seen many changes and much uncertainty about the future. Logistics challenges have resulted in a huge increase in contacts from customers asking when their delivery is arriving. Remote work has changed how we interact with customers. Global and local component shortages have changed delivery schedules, quarantines prevent employees coming to work and so on – the list is almost endless. All this means a seamless information flow in industrial sales is now very critical, salespeople and customers need to be notified about changes and updates instantly, and the correct information always needs to be available online.
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New technologies enable us to build highly automated financial management functions, releasing educated financial professionals from number collection and reconciliation work to supporting business leads in decision making and creating strategic growth.
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An ICT strategy defines how ICT creates value to a business and enables achieving strategic business objectives. It also ensures that business and ICT capabilities are aligned – instead of just designing ICT to address business requirements and setting a direction for the ICT function as a part of an enterprise. ICT strategies should be developed and refreshed in an iterative manner. This includes regular checkpoints and observing the changes that take place in the operating environment.
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The business environment is getting more and more complex every day. Simultaneously, we still have a large amount of manufacturing and process industry companies working in much the same way as they have done for the past who knows how many years. The companies in this area need to step up their digitalisation game and not only take initial steps, but real leaps, towards a more digitalised way of operating and managing their business.
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Construction industries are facing major digital transformation challenges. They have long been under internal pressures to increase productivity but have gained very little so far. In addition to struggling with efficiency challenges, there are now external pressures created by new customer expectations of digital solutions. Expectations are high for all lifecycle phases from planning to construction and to facility services.
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