Remember The Goal by Eli Goldratt? The plant manager began investigating constraints in the production line. In order to find the data, the IT guy had to make a special report run overnight resulting in printing reams of paper that they had to read through the next day looking for insights into the next bottleneck or constraint. Now, we can get this information almost real-time on our smart phone. That context is what I think of as I wade through the hype of PTC’s latest announcement from last week’s virtual customer event.
I wish people marketing software could just say what they do instead of phrases such as “investment accountability by validating outcomes for transformational investments with real-time production data.” And the executives quoted bemoaned that digital transformation was only incrementally improving manufacturing performance. My experience tells me that if you are looking for something like 50% or 100% boosts, then you should have been terminated long ago as a terrible manager. Incremental boosts in efficiency done consistently over time will yield a viable manufacturing company.
At any rate, I’m sure that this new product, “Digital Performance Management Solution,” will help well run manufacturing companies continue to improve. The news in brief:
- New IIoT Offering from PTC Is a Self-Monitoring, Self-Measuring Tool for Closed-Loop Problem Solving.
- With the New Solution, Manufacturers Are Empowered with Visibility into Current Performance, Analysis of Production Bottlenecks, and Outcome Validation for Investments.
And here is the release: PTC announced the immediate availability of the new ThingWorx Digital Performance Management Solution (DPM), a first-of-its-kind offering that represents a significant advancement in manufacturing companies’ ability to drive efficiency.
DPM provides performance insights and enables real-time, closed-loop problem solving. It delivers one universal view of performance, communicated in an understandable business metric: hours. This metric is easily understood across frontline workers, managers, and executives, and provides a foundation for an enterprise-scale solution. DPM supports investment accountability by validating outcomes for transformational investments with real-time production data and easy-to-calculate financial improvements.
With DPM, companies can identify the right performance issues to drive efficiency; empower frontline workers to take corrective action; gain visibility into bottlenecks, root causes, and the most critical areas to focus on for improvement; measure results with performance data to ensure actions produce the desired outcomes; and achieve rapid time to value and scale, with initial results in as little as 90 days.
“The release of PTC’s ThingWorx DPM Solution represents a significant milestone in our IIoT business,” said Jim Heppelmann, President & CEO, PTC. “This software marks the beginning of a new phase in PTC’s IIoT growth strategy as we evolve our positioning of ThingWorx as a suite of powerful enterprise solutions that power significant enterprise efficiency to drive business value.”