Digital Transformation as an Effective Development Strategy for Industrial Enterprises

Abstract

The need for integrated digital technologies at industrial enterprises is discussed. Currently, manufacturers in the engineering industry must take account of the short product life cycle and the volatility of market demand. Consequently, manufacturers must be nimble, responsive, and flexible. The ongoing introduction of digital technologies inaugurates a new era in manufacturing and permits improvement in production and industrial processes. The Internet of Things (the industrial Internet) allows manufacturers to collect and analyze huge quantities of data in real time from smart sensors, actuators in production lines, and products in the course of their operation. The goal is to speed up the introduction of more precise management methods. In the present work, trends in the digital transformation of industry are noted, and strategic prospects for their development are identified. Current approaches to digital technologies are still fragmentary and static. In other words, although high-tech enterprises have digitized some aspects of their production system, they are not yet able to quickly determine the influence of any incident on planning processes and current operations, including logistical, warehousing, and the global supply chain.