Internet of Things Without Ecopartners? Not Possible!
By Kevin Sullivan, Cisco Internet Business Solutions Group (IBSG)
Many companies are developing new market offerings for services that connect products with services from the OEM. This is a great way to create value and increase revenue. Done correctly, it can also increase “stickiness” or loyalty with customers. It delivers competitive advantage since many customers will rely on services-based capabilities to manage costs and reduce capital spend.
But manufacturing companies developing Internet of Things (IoT)-based strategies face difficult choices: They need a wide array of capabilities to execute the strategy—not just internal engineering of a new product, but also new sensors, communications, analytics, and remote services. These involve strategic partners that offer a specific technology for communications such as service providers, sensor companies, and technology companies that provide embedded switching, routing, and other products.
Innovation in manufacturing requires several key elements. The Strategic approaches requires focusing on scans of external as well as internal technologies, managing ecopartners and market interactions. Market leaders need to focus on the technology strategy and ecopartner-management process to be successful.
Future leaders will need to rethink their strategy to include partners in the ecosystem. Cisco IBSG is working with several leading manufacturing companies on these new strategies, with significant results.
Keywords: Cisco, IBSG, Internet of Things, ecopartners, manufacturing, innovation, technology, strategy, ecopartner management