Product recalls can be a headache for customers and consumers, but a financial nightmare for manufacturers.
Just look at the auto industry. An air-bag recall will cost one manufacture up to $235 million. While a gas pedal problem will hit another manufacture with upwards of $2 billion. Yes, billion.
But recalls aren’t isolated to the auto industry. Food. Toys. Tech. Virtually no industry goes untouched.
And it’s not just the size of a recall that matters. It’s the damage to your brand’s reputation. Plus, recalling a product is more complex than ever.
Here’s why. Read More »
Tags: Cisco, Internet of Everything, IoE, John Kern, last product recall, Manufacturing, Stanley Black & Decker, Sub Zero
This is a big week for the global energy industry, as thousands of energy leaders, experts, technologists, and policymakers gather in Houston, Texas, for the 34th annual CERAWeek conference, the premier international event for the industry. As a corporate sponsor of the event, it’s also a big week for Cisco.
Just last week, Cisco released a new report focused on the need for digital transformation in the oil and gas industry. Based on a survey of oil and gas executives, analysts, and consultants in 14 countries, the paper validates CERAWeek’s “oil day” theme, “Turning Point for the Oil Industry.” For forward-thinking oil and gas companies, the price volatility and turbulence in the market could represent a turning point toward true digital transformation. Read More »
Tags: analytics, CERAWeek, Cisco, collaboration, cybersecurity, digital, Disruption, IIoT, Internet of Everything, IoE, IoT, IT-OT convergence, oil and gas, oil prices, operational technology, OT, transformation
How often do you think about the linkage of today’s digital Internet technologies with the gas that we put into our cars and the fuels that heat our homes? Probably not very often. In fact, for many years, I envisioned them as two separate worlds. Here’s why…
Back in 1995, when I met my wife and we were first dating, I distinctly remember talking with her father (now my favorite father-in-law!) Bill Dalgetty about his career at Mobil Oil. Like most senior Mobil executives, Bill started his career at a Mobil gas station and worked his way up over many years, eventually serving as the General Manager of Environment, Health and Safety for Mobil’s operations around the world. Read More »
Tags: CERAWeek, Cisco, Cisco Consulting Services, data analytics, digital disruption, Digital transformation, IIoT, Internet of Everything, IoT, IT/OT convergence, Mike Riegel, oil
Cisco’s recent survey of 7200 banking customers in 12 countries left me with a crystal-clear takeaway: consumers are ready for the Internet of Everything (IoE) — and they want it now.
But to meet that demand, banks need to assess their own capabilities as they begin to light up their own “dark assets” with network connectivity and embark on the journey to IoE readiness.
In our survey, we tested five key IoE-enabled banking concepts related to advice (virtual financial advice, virtual mortgage advice, and automated financial advice) and mobility (branch recognition and mobile payments). These concepts resonated with customers globally: 75 percent of all respondents would move their money to another provider for one or more of the five concepts. And while the interest is significant everywhere, in emerging markets, respondents are twice as likely to move their money. Read More »
Tags: analytics, banking, CCS, Cisco, Cisco Consulting Services, data, digital, Financial Services, hyper-relevance, innovation, Internet of Everything, internet of things, IoE, IoT
I recently participated in a Cisco advisory board meeting attended by some of our leading manufacturing customers. There was a lot of discussion about the tough challenges the industry is facing. Flexibility, agility, and managing costs were hot topics. Traditional manufacturing environments with manual processes, independent systems, and siloed data create a lack of visibility into real-time operations and result in delayed responses to quality issues and inventory waste. Many manufacturing organizations are starting to take their first steps towards becoming digital. Let’s take a look at what that means and why making the transformation to a digital factory is the next wave of evolution. Read More »
Tags: Cisco, Cisco Connected Factory, connected utilities, Hannover Messe, Internet of Everything, Manufacturing, oil and gas, Tony Shakib