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Perspectives

Building Situational Awareness: A Risk Mitigation and Revenue Creation Strategy (Part 1)

2017-08-16


Manufacturers that develop situational awareness gain a powerful risk mitigation strategy as well as another data engine to fuel revenue growth.

The term “situational awareness” may conjure the darkened situation rooms of many a summer blockbuster movie in which vast video walls and flickering computer banks capture humanity’s struggle against gigantic mutant beasts or other world-threatening entities.

Manufacturers (probably) don’t need to worry about creatures from the deep trying to eat their facilities. Yet events ranging from traffic jams to a partner’s production backlog to hurricanes and tornados can pose real threats to a manufacturer’s operations and ability to meet customer expectations. Situational awareness helps manufacturers anticipate and respond effectively to these events. That makes developing situational awareness capabilities a risk management priority. 

Situational awareness also sets up a manufacturer to develop new services, either on its own, or in concert with other partners as part of a data monetization ecosystem. (Read more about data monetization in manufacturing here.) The same insights a manufacturer’s systems distill about an emerging supply chain issue may be a key part of a solution for another party. 

A food processor expecting a shipment of seafood arriving at the Port of Los Angeles might monitor shipping schedules and land traffic routes to ensure the perishables will arrive on schedule. Predictive indicators of a major traffic slowdown alert the processor to reschedule driving crews and re-route its trucks; that intelligence, and recommended next best steps, would likely be of value to other companies, too.

While it’s a staple of Hollywood drama, situational awareness is practical and achievable today. Learn more about what it is and how to achieve it in the following video. 

How Situational Awareness Can Help A Successful Digital Supply Chain

To learn more, read our white paper, “The Robot as Co-Worker.” We also invite you to read this article’s accompanying pieces, So Happy Together: Building a Successful Integrated Robotics Strategy (Part 2), and Show Me the Money (from My Data) (Part 3), or visit the Manufacturing section of our website.

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Building Situational Awareness: A Risk Mitigation and Revenue Creation Strategy (Part 1)