These are pivotal times for industrial manufacturing. Manufacturers must navigate an unfamiliar environment shaped by advances in disruptive technology, economic turmoil, shifting customer expectations, uncertain labor and materials supply markets, and the world’s emergence from the COVID-19 pandemic.
KPMG professionals see the sector migrating toward a smart industrials strategy, shifting from a legacy product-centric focus to customer-centric focus empowered by digitally enabled aftermarket and field service. Future-focused manufacturers can win by embracing digitally enabled service as the foundation of both their business and operating models.
Everywhere you look, there are signals of change for aftermarket and field service in industrial manufacturing.
Signals of change
Based on the signals of change, KPMG professionals have identified five strategic imperatives that manufacturers should focus on to accelerate and complete this shift.
Developing data, analytics, and AI capabilities are the top actions their organization will need to take over the next five to ten years to address.
Lower service costs, enhanced service, new offerings and revenue sources, enhanced customer value, and loyalty are some of the benefits that manufacturers can derive from digitally enabled aftermarket and field services.
The digitization of aftermarket and field service opens the door for organizations to move beyond a traditional manufacturing business model.
Organizations are finding that they need to move beyond a product-focused culture or even a culture of functional excellence.
As manufacturers transition to connected products and platforms, the amount of data generated and transmitted is increasing exponentially, and the importance of data security is further elevated.
In this report, KPMG professionals explore the opportunity for industrial manufacturers to drive improved customer experience while enhancing efficiency and effectiveness through digitally enabled aftermarket and field service. We also discuss the challenges manufacturers are experiencing with their current efforts and the capabilities that are needed for success