Despite record growth, the industrial equipment sector has faced increased volatility and instability brought on by geopolitical conflicts, rising energy prices, supply chain shortages, and an ever-shrinking labor force.
The elevated cost of assets implies that the consequences from unplanned downtime are extremely high, and further emphasizes the need for planned downtimes to be optimally scheduled and carefully executed. Consequently, field service work in industrial manufacturing tends to require a high percentage of onsite visits, as well as multiple scheduled and unscheduled visits compared to other industries. While many in the field service industry have begun to “shift left” through self-service and remote service, the nature of industrial manufacturing faces more challenges in doing so.
In partnership with Service Council, TrueContext has identified trends, insights, and concerns on the horizon and shines the light on potential opportunities for the sector.
- What are the most immediate concerns for industrial manufacturing companies and service contractors?
- How can industry players move faster toward a contract-based service model?
- How can organizations leverage technology investments to mitigate issues in talent shortage and organizational knowledge transfer?
