Singapore Economic Development Board (EDB), McKinsey & Company, SAP, Siemens and TÜV SÜD today announced a collaboration to support companies, both big and small, scale the adoption of Industry 4.0 technologies.
The collaboration aims to develop tools and offerings that can accelerate the digital transformation of manufacturers in Singapore and internationally. This is achieved by leveraging the collective expertise of:
- EDB, the lead economic agency of Singapore, will focus on industry development and ecosystem building to transform its industries and create good job opportunities for Singaporeans.
- McKinsey & Company, a leading global management consulting firm, will serve as a Knowledge Partner with its experience in helping companies undertake process redesign, technology road-mapping and organisational capability development.
- SAP, a world leader in business software and digital technologies, helps manufacturing companies become more intelligent with end-to-end process agility and business innovation.
- Siemens provides a holistic and industry-specific portfolio for the digital transformation of the discrete and process industries. It comprises automation as well as Industrial Software, Industrial Communication, Industrial Security and Industrial Services including consulting over the entire lifecycle to support manufacturers to implement their individual digital transformation project.
- TÜV SÜD, a global testing, inspection, certification and training company ensures Industry 4.0 solutions are safe, secure and reliable.
In 2017, EDB and TÜV SÜD launched the Smart Industry Readiness Index, which is a diagnostic tool to help companies assess their readiness for transformation. The Index has been substantially applied in Singapore and is being rolled out in Indonesia, Thailand, India, USA, Europe and Japan.
As a next step, EDB in collaboration with McKinsey & Company, SAP, Siemens, and TÜV SÜD will enhance the Index with a computational tool that helps companies identify and recommend focus areas and digital initiatives to prioritise based on their individual readiness score and current financial performance. This “Prioritisation Matrix”, will be launched at Hannover Messe 2019, alongside a white paper detailing its concept and development.
Quotes from collaborating organisations
“While interest in Industry 4.0 has caught on, many companies are now experiencing a ‘pilot trap’ where transformation activities may be underway but have yet to scale beyond proofs of concept to yield meaningful bottom-line benefits. The collaboration will enable us to establish a neutral, open and qualified Industry 4.0 ecosystem which will facilitate the transformation of companies’ processes, technologies and organisation globally and at scale,” said Chng Kai Fong, managing director, EDB.
“Our global survey shows most manufacturing companies consider digital manufacturing a priority and see themselves ahead of the game. We are encouraged that a clear majority have also embarked on their Industry 4.0 journey by piloting digital solutions. However, for most companies, advancing beyond the pilot stage to broader rollout within the organization is still a big challenge, and this platform has been designed with this challenge in mind. Through this powerful collaboration, we are excited to provide a holistic Industry 4.0 ecosystem that will help our clients win the Digital Manufacturing race,” said Christoph Schmitz, senior partner and global leader for Manufacturing & Supply Chain, McKinsey & Company.
“This collaboration aims to create an intelligent, networked, data-driven model to help manufacturers realize their Industry 4.0 vision. SAP is proud to be part of this collaboration and is committed to helping our industrial customers identify digital transformation opportunities from the factory floor to the board room. We strongly believe that enhancing the Smart Industry Readiness Index will help businesses enhance productivity by leveraging Industrial IoT and Digital Supply Chain solutions,” said Deepak Krishnamurthy, executive vice president, chief strategy officer, SAP SE.
“Digitalization and Industry 4.0 initiatives take center stage in many manufacturing firms today. Regardless of company size, the digital transformation reshapes every business aspect and also brings along exciting developments, new opportunities and new business models. To achieve this, collaboration is the catalyst of success. Within the framework of this collaboration Siemens provides a holistic portfolio for the digital transformation of the discrete and process industries. This includes consulting for manufacturers, supporting them in implementing advanced engineering, manufacturing and IoT solutions,” said Klaus Helmrich, member of the Management Board of Siemens AG.
“Being part of this Network allows us to collaborate closely with the Index partners, leveraging on the evolving ecosystem to most effectively help companies start, scale and sustain their Industry 4.0 transformation from initiation and solutioning to operation. Having developed the Smart Industry Readiness Index together with EDB, and currently rolling it out globally, this engagement synergises with the implementation and operation phase of our manufacturing clients to scale Industry 4.0 solutions. We believe that this ecosystem has the potential to become best practice with an impact on a global scale,” said Prof Dr-Ing Axel Stepken, Chairman of the Board of Management, TÜV SÜD AG.