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Industrial equipment

4 Critical Challenges Facing Industrial Equipment Manufacturers

Modern manufacturers cannot afford to ignore the challenges coming their way, considering the cut-throat competition and the rapidly rising market demands. According to experts at Infiniti Research, some of the key challenges faced by industrial equipment manufacturers include industrial equipment manufacturers can come across include an incomplete view of their profitability, lack of insight into supply chain, and the means to collaborate productively across the various stakeholders. Although several industrial equipment manufacturing companies respond to these challenges by installing ERP systems, it may not be a complete solution to overcome these roadblocks.

To know more about how to tackle these business challenges facing industrial equipment manufacturers

Errors in quotation

The quotation is one of the foremost areas of focus for any business. An inaccurate quote or costing prevents businesses from making adequate profits as either all the elements are included or even the client can be lost due to high costing. Sales personnel need access to details so they can provide the right estimate and quote to their customers.

Portfolio management

Portfolio management for industrial equipment manufacturers include creating premium support offerings, connecting service offers to business value, and launching new service offers. Making this challenge a priority will facilitate industrial equipment companies to take more responsibility for improving customer outcomes with offers and that would be required to prove their value in order to sell these offers.

Get in touch with an expert from Infiniti Research to know how we can help you identify risks in advance and improve business outcomes

Service flow

In most cases, the scope of work for manufacturing companies may not end with the project assembly or manufacture. It could further involve transfer of project results to the base, which offers service opportunities like maintenance, repair, and overhaul services. This can cause several service integration issues for industrial equipment manufacturers.

Logistics inconsistencies

Industrial equipment manufacturers have a considerable amount of equipment and materials that need to move from the factory floor to production operations. Without the right support, this could lead to severe logistics inconsistency and confusion for industrial equipment companies. The companies in the industrial equipment manufacturing sector need to implement a solution that would help them plan the capacity of the machine so that the person in charge can assign resources to the machines based on the requirement.

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smart manufacturing

How to Successfully Navigate Through the Transition to Smart Manufacturing

Manufacturing as we know it is going through a phase of unprecedented transformations. Several initiatives and efforts are in full swing to fundamentally transform the manufacturing sector and associated processes. These initiatives, although known by different names such as industry 4.0 in the west to manufacturing innovation 3.0 in the east, they all stand to have a common pursuit – smart manufacturing. A fully-connected manufacturing business where machines, devices, and people work seamlessly, sharing and acting on information in real-time is vital for manufacturers to pull off a successful changeover to smart manufacturing.

The global push for smart manufacturing is underway, creating a pool of growth opportunities for manufacturers. Smart manufacturing techniques offer several opportunities for companies in the manufacturing industry to improve their operations by providing greater connectivity across the manufacturing facility and the ability to act on production intelligence. However, while some agile manufacturers have embraced smart manufacturing fully and are reaping the benefits already, most still have much work ahead of them. According to experts at Infiniti, less than 15% of manufacturing companies around the globe have successfully implemented a strategy to apply Internet of Things (IoT) technologies to their production processes. Experts at Infiniti explain how companies in the manufacturing sector can go about smartly implementing smart manufacturing in their organizations.

Learn more about how Infiniti’s solutions can help stay updated with the latest manufacturing industry trends and challenges.

Improve quality and productivity

Quality management and kaizen techniques can only provide limited outcomes when the information relied on are limited and not available in real-time. Manufacturers are leveraging embedded equipment intelligence to monitor most product specifications in real-time, either from a customer or regulatory perspective. Apart from this, they’re using this intelligence to address product defects and variations, verify whether quality goals are met, and improve customer satisfaction. Embedded intelligence, when used to improve control and transparency of manufacturing processes creates new opportunities to improve productivity. For instance, operators on the plant floor are analyzing real-time production data to uncover hidden inefficiencies and ensure faster implementation of changes. Managers and logistics professionals are leveraging smart manufacturing technologies to deliver critical data including forecasts and schedules to suppliers, while also monitoring delivery performances at the supply chain level.

Enhancing decision-making process

Manufacturers must consider upgrading their existing technologies in order to attain next-gen productivity. This involves reconciling dissimilar data sources with the current IT systems, extracting the data from smart manufacturing technologies, and then converting that data into actionable insights. Manufacturers that have adhered to these steps and armed themselves with better information are using it to optimize their assets, improve their responsiveness to changing customer demands, refine workflows, and reduce inventory holding.

There is an increasing need for for agile production, operational efficiency, and control in the manufacturing industry. Get in touch with our experts to learn how our solutions can help your organization keep up with the changing market dynamics.

Safeguard against threats

Availability of larger data sets and more connection points can introduce greater risk to manufacturing companies in the forms of internal and external threats. Cyber attackers are looking beyond corporate servers to target operations technologies, while decades-old devices and controls of companies in the manufacturing sector can be more susceptible to breaches through both malicious attacks and unintentional employee actions. No single security technology or methodology will suffice in this complex threat landscape. Instead, manufacturers must use a comprehensive, defense-in-depth approach that establishes security safeguards at different layers to stop threats on multiple fronts. Robust and secure network infrastructure should be built on standard and unmodified Ethernet, which has become the industry preference for security purposes.

Safe, compliant, and reliable operations

An ongoing concern for most manufacturers is to achieving safe, compliant, and reliable operations, and smart manufacturing technologies provide new opportunities for dealing with some of these age-old challenges. Common opportunities provided by smart manufacturing will include replacing obsolete and isolated automation systems that have exceeded their life spans, are difficult to connect and are no longer supported by their manufacturers. However, manufacturers also should define new requirements based on past performance in areas such as employee injuries, machinery downtime, and work stoppages.

Learn more about Infiniti’s solutions for companies in the manufacturing industry

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Global Metals Market Analysis: An Infiniti Research Success Study

The political and economic scenario of the world has been one of the major factors affecting the stability of the metals market and its position in the market ecosystem. Click To Tweet

The metals market is an integral part of any country’s economy since it forms the foundation for its development. However, trends observed in the metals market are highly subjective to the country’s prevailing political, social, and economic conditions. For example, the demand for steel in China took a dramatic dip following the implementation of the government’s strategy to increase steel production in a bid to boost the country’s infrastructure and economy. But the production was not done in tandem with the growth in its construction and manufacturing industries, which resulted in a sharp fall in steel prices. On the other hand, political conditions across the globe, such as increased migration to the European Nation and the exit of Britain from EU, had thrown the possibilities of the metals market into deep uncertainties.

The Business IssueRequest Proposal

  • The client: Metals manufacturing company

The client is a leading global metal manufacturing company, specializing in scrap metal and steel-based production. Infiniti was approached by the client to conduct a market analysis and understand the trend of the global metal market, identify the core areas of investment, and the possible obstacles to be faced during investment. Additionally, the client wanted to evaluate their position in terms of its top competitors, their current offerings, and accordingly strategize an effective plan to carry out their business in a fluctuating metals market while ensuring that their profit margins remain high.

How Can Market Analysis Engagement Help Metals Manufacturers

In today’s market, it is not enough to just stay afloat but also edge out the competitors by keeping stock of the fluctuations experienced in the market. In this respect, a market analysis study will help the manufacturing companies to identify the profitable areas of investment and target the right group of customers by analyzing the metals market. An effective market analysis study will also help companies in the metals industry to identify the potential obstacles they might face while entering core market segments. Infiniti’s metals market analysis study will help manufacturing companies by offering a comprehensive picture of the metals market size, its pros and cons, and help them in devising an accurate and effective strategy to forge a successful business plan.

Summary of Our Metals Market Analysis


Market Segmentation Helps an Industrial Equipment Manufacturer Streamline Marketing Efforts and Target New Consumers

In a slow-growth environment such as this, productivity gains are paramount. This could be a boon for industrial equipment manufacturers. Industrial equipment manufacturers can best serve their customers by designing equipment and tools that improve the efficiency, performance, and costs of factories and other capital projects.

The industrial equipment industry consists of establishments engaged in the production of essential power and hand tools, small-scale machinery, and other industrial components. The industrial equipment industry includes power polishing and metal-working machines, saws, drills, springs, valves, nuts, bolts, screws, pneumatic hoses and other necessary industrial equipment. Driven by the advent of new technologies, the manufacturing industry has undergone an enormous transformation and is witnessing unprecedented demand from niche and emerging market segments. The growth of industrial equipment is also fueled by the recovery in the automobile and heavy-machinery segments.

Although the industrial equipment manufacturing sector is witnessing promising growth, several factors are expected to influence the growth prospects in the coming years. They include:

  • Sustaining technological and business viability: Industrial equipment manufacturers face the need to segment customers, identify their need and wants and invest heavily in technology development and commercialization. They must create a win-win environment to reduce risks and improve the overall efficiency of the industry.
  • Need for both research and people: Firms across the industrial equipment space need a continuous flow of technical innovation and constant training of people to gain a stronger foothold in the market and segment their customers accordingly.

These factors are compelling industrial equipment manufacturers to leverage the use of market segmentation solutions. Market segmentation solutions help firms overcome the factors influencing the growth, take advantage of the new prospects, and reduce costs. These solutions also assist companies in profiling the needs and want of the customers and develop the offerings accordingly.

IR_BrochureFurthermore, Infiniti’s market segmentation solutions help industrial equipment manufactures classify the market segments in terms of the distribution, lifestyle, and geography.

The Business Challenge

  • The client: A leading industrial equipment
  • Area of engagement: Market segmentation

The client, a renowned manufacturer of industrial equipment, was facing concerns profiling the customer segments and allocate their resources accordingly. As a result, the client wanted to profile the best customer segments and accordingly allocate resources to these pre-determined segments. Additionally, to reduce the risk of ineffective marketing campaigns, they wanted to classify the customer demand for products and services and efficiently target the audiences while being cost-effective.

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The Journey

To help the client measure the market size, the market segmentation experts at Infiniti carried out extensive interviews and discussions with prominent stakeholders within the industrial equipment manufacturing space. Furthermore, to identify potential market segments and target specific customer groups, the experts also collated information from a wide array of secondary sources such as paid industry databases, company presentations, and industry forums.

The Solution Offered and the Business Impact

With the help of Infiniti’s market segmentation engagement, the industrial equipment manufacturer was able to increase their focus on devising a marketing mix that can go on par with the expectations of the customers. The client also defined the markets into subsegments and profiled the potential customers based on similar needs, wants, and demand characteristics. The market segmentation engagement offered personalized marketing campaigns to target best customers while being cost-effective. The client also sought ways to supply the needs and better allocate resources to meet customer requirements across the market space.

The Future

Technology, especially information technology (IT), is transforming the entire industrial equipment industry and leading to unconventional growth. Digitizing the manufacturing, engineering, and supply network are vital as most supply chains today are no longer fit to contest in a digital world. Additionally, firms must start managing the supply network as a digital ecosystem to equip the organization for enabling quick movement into new geographies, growth, support for new value delivery approaches and creation of innovative product and service offerings.

A must-read case study for strategy specialists and decision makers looking to develop an understanding of the industrial equipment industry


Infiniti’s Market Segmentation Helps a Leading Industrial Equipment Manufacturer Personalize their Marketing Campaigns to Target Potential Customers

Despite the recent Brexit concerns and political uncertainties, the global manufacturing space is moving towards digitization to create new operating models and improve their targeted investments. Also, with the recovery in the oil prices, the industrial manufacturing space is designing tools and equipment to improve the efficiency, costs, and performance of the factories. To sustain themselves in this competitive space, it becomes vital for leading business organizations to develop technology platforms that can help them in meeting the customers’ expectations. With a considerable number of manufacturing industries, China and the US are expected to hold the majority of shares in the global manufacturing sector. Although the manufacturing space is witnessing promising growth owing to the relentless growth of technology, several factors will influence the growth of industrial equipment space. 

The Business Challenge

  • The Client: A leading industrial equipment manufacturer
  • Size: >$ 60 million in revenue
  • Area of Engagement: Market segmentation

A renowned industrial equipment manufacturer with offices spread globally wanted to characterize the market into groups and segments and personalize their marketing campaigns to target potential customers individually. The client wanted to profile the potential customer segments and efficiently allocate their time, money, and other resources in a cost-effective manner. In addition, with the help of a market segmentation strategy, the client wanted to seek ways to segment the customers based on their needs, wants, and demands and design a marketing mix that precisely matches their expectations. The primary concern for the industrial equipment manufacturer was to eliminate the bottlenecks and generate better returns on their marketing campaigns.

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Our Approach

To profile the profitable segments and deliver personalized offerings to the customers, the market segmentation experts at Infiniti carried out extensive research. The research methodology comprised of interviews and discussions with prominent stakeholders in the industrial equipment manufacturing space. Furthermore, to design a marketing mix to comply with the regulations, the experts also compiled information from secondary sources such as trade shows, company presentations, and government regulatory bodies.

Business Impact

The market segmentation solution offered by Infiniti helped the client determine the market trends and segment the market based on variables such as geography, demography, and psychographics. The solution also sought ways to divide the market into sub-segments with a similar taste, demand, and preference. Moreover, the solution also brought into limelight the priorities from the end-user segments and accordingly refined their marketing models to meet the growing demands.

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Innovation in the Making: Latest Trends in Industrial Manufacturing

The global economic expansion during the period of 2001-2008 compelled several industrial manufacturing companies to bet on the wrong horse. Many companies invested heavily in new technologies and equipment designed to improve factory performance. But all their efforts took a huge hit when the market unexpectedly crashed during this period.

Although currently, the economic growth in the industry looks positive, it is not particularly robust. These patterns are making industrial manufacturers more aggressive and deliberate in their investments. Undoubtedly, there is a remarkable opportunity for manufacturing companies; and even so, the sector remains risk-averse. Below are a few trends that are gaining popularity in the industrial manufacturing scenario despite the significant challenges in the industry:IR_Brochure

Data and data analytics into business model

With the increasing inclination of the world towards technology, the players in the industrial manufacturing space are left with no other option but to follow the herd. Industrial manufacturers can bundle a variety of services enabled by connectivity and data by upgrading their technical capabilities. The services can include collaboration with customers on a daily basis to customize asset optimization, real-time monitoring of equipment to determine the maintenance needs, predictive performance management, etc. By adopting data analytics techniques and new technological innovations, players in this sector can enhance their customer retention and gain more lucrative commercial engagements.

Innovative pricing strategies

As technology is gradually altering manufacturer-customer relationships, the companies in this industry are slowly thinking of changing their pricing models from pay-for-product to pay-for-performance. Instead of setting the equipment prices based on products and fixed maintenance or warranty costs, industrial manufacturers are basing fee structures based on the outcome. For example,  in case the industrial downtime is reduced, or if an upgrade in equipment improves productivity, industrial manufacturers may be paid more.

Paving the way for talent development and retention

Industrial manufacturers often find themselves in a bad position when trying to retain and attract talent. While many of the job candidates are attracted by the lucrative opportunities at Silicon Valley, what industrial manufacturing companies need to do is to chart out a plan for themselves to attract more candidates. Companies are becoming more focused on hiring staffers that display diverse expertise and skill sets. This will help shorten the learning curve of the organization in the long run. Even the companies who currently are not in need of tech-savvy staffers need to prepare themselves for the future requirements as the growing economic scenario will demand skilled workforce in the long run. 

Develop strategic partnerships

To develop data analysis, equipment connectivity, and software that are beyond the current capabilities industrial manufacturers must seek expertise outside the industry. Major industrial manufacturing companies are increasingly partnering with technology firms to leverage technology such as cloud-based platforms and Internet of Things that can run the industrial workspace. But these alliances can be risky. Companies need to strike a balance between partner selection, close collaboration with strategic partners, and at the same time maintaining their hold in the market.

Mine operational data

With advances in technology, the manufacturing industry is soon going to have to manage an avalanche of data coming from various sources. Therefore, players in the industrial manufacturing space are hiring people who can effectively mine these bits and bytes of information and work closely with the customers and open new revenue streams for the business. By being proactive in implementing technology and utilizing the data for the right purposes, manufacturing companies can earn better gains from the business.

To know more about the trends, opportunities, and challenges in industrial manufacturingAsk an analyst

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Addressing the Marketing Concern for a Power Tools Manufacturer through Industry Risk Assessment

In the manufacturing space, businesses are mainly concerned about managing work and safety and to ensure the same, various manufacturers are relying on a robust industry risk assessment. In addition, leading businesses in the machine tools manufacturing space are leveraging the use of industry risk assessment to identify the flaws associated with their production lines. Also, with the help of industry risk assessment, renowned businesses in the power tools manufacturing space can gain better clarity on the level of risks and further devise appropriate risk management methods. Furthermore, with the help of industry risk assessment solutions, organizations can segment the risk level into categories based on their extremities.IR_Brochure

To identify the factors responsible for risks, leading organizations in the power tools manufacturing space are approaching companies like Infiniti Research. With years of expertise in offering a plethora of solutions, Infiniti’s solutions help manufacturers devise an effective risk assessment strategy using effective matrices.

The Business Challenge

A renowned power tools manufacturer with a considerable number of manufacturing units spread across the globe was facing predicaments understanding the market effectiveness. The client further wanted to identify the hazards and quantify risks to further devise an effective risk management plan. Furthermore, the client also wanted to assess the relevant parameters in terms of the demand-supply outlook, cost structures, competition, and financial performance. Also, the client wanted to monitor their business performance proactively and make informed strategic decisions.

IR- Industry risk assessment


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Our Approach

To identify the relative risk and identify opportunities in the power tools manufacturing space, the client approached Infiniti Research. Infiniti’s industry risk assessment experts carried out an extensive research comprising of interviews and discussions with leading stakeholders in the power tools manufacturing space. In addition, to determine the potential sectors for market expansion, the industry specialists collated information from various proprietary sources such as paid industry databases, company presentations, and industry forums.

Power tools Industry Risk Assessment Solution Benefits:

  • Identified hazards and devised effective measures to reduce risks
  • Determined machinery, safety measures, and human interventions for robust safety maintenance
  • Applied risk priorities in an organized manner and reduced the risks to the minimum
  • Reviewed the risk assessments periodically and Identified the causes of the risk
  • Assessed the robust control measures that are in place

Benefits of Our Integrated Approach

With the help of the industry risk assessment solution, the power tools manufacturer was able to identify, evaluate, and identify challenges in the power tools manufacturing space. Furthermore, the industry risk assessment solution also helped the client identify the challenges, risks, threats, and vulnerabilities and devise an effective strategy to reduce instances of revenue loss and improve their business performance.

A must-read case study for strategy experts and decision makers looking to develop an understanding of the manufacturing industry.


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Market Intelligence Study on a Renowned Industrial Vacuum Pumps Manufacturer Helps Improve their Current Business Model

The current manufacturing space is witnessing pressure from the customers to deliver cutting-edge technologies in a seamless and agile manner. This has further resulted in several manufacturers relying on market intelligence solutions to leverage opportunities for expansion across different potential market segments. Devising a robust market intelligence solution helps the client identify the potential buyers and sell products and services in an efficient manner. In addition, with the help of a robust competitive intelligence solution, the manufacturers can gain actionable insights on the prominent competitors and estimate the entry of new competitors in the industrial vacuum pumps space.IR_Brochure

To gain a 360-degree view of the market space, several manufacturers are approaching organizations like Infiniti Research. With expertise in offering a plethora of services, Infiniti’s market intelligence experts provide an accurate and precise view of the market in terms of the customers’ behavior to allocate the resources in a timely manner.

The Business Challenge

The ever-rising demand for industrial vacuum pumps among the end-users is forcing the market players to offer a wide array of products. A renowned industrial vacuum pumps manufacturer with a considerable number of manufacturing units was facing predicaments understanding the market landscape of the industrial vacuum pumps space. The client wanted to understand the market scenario in terms of the competitors, their offerings, and product positioning. Furthermore, the industrial vacuum pumps manufacturer wanted to devise an strategy to understand the market projection and demand forecasting for industrial vacuum pumps.

IR- market intelligence02

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Our Approach

With the aim to identify and analyze the emerging trends in the industrial vacuum pumps space, the industry experts carried out an extensive research comprising of interviews and discussions with leading stakeholders in the industrial vacuum manufacturing space. In addition, the analysts  also crafted a dashboard comprising information from various proprietary sources such as paid industry databases, company presentations, and industry forums to analyze the potential opportunities in industrial vacuum pumps space.

Market Intelligence Study Solution Benefits:

  • Effectively kept track of the competition and improved the current business model and projections
  • Gained a holistic view of the company’s existing market, customers, problems, and competition
  • Gained actionable insights on competitors and their product lines
  • Understood the potential customers and determined internal goals
  • Created market development metrics to further determine the market opportunity
  • Gathered information of the product and quality of the prevailing products in the market

Benefits Of Our Integrated Approach

With the help of this market intelligence engagement, the client was able to understand the market performance of the products and identify potential market opportunities. Furthermore, the market intelligence study helped the client devise a better market penetration strategy and identify the potential buyers, distributors, and the competitors in the industrial vacuum pumps market space. Also, the engagement helped the client assess the competitor’s marketing strategy.

A must-read case study for strategy experts and decision makers looking to develop an understanding of the manufacturing industry.


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Market Entry Advisory Helps a Renowned Hydraulic Hose and Fittings Manufacturer Retain their Foothold in the Market

In the manufacturing landscape, the growing need for urbanization and the rising demand for better infrastructure facilities are forcing leading hose and fittings manufacturers to implement a robust market entry strategy. Also, with the relentless growth in construction activities, hydraulic fittings have become an indispensable part of the construction equipment. Therefore, to stay relevant and enhance their offerings across the niche market segments, organizations in the hose and fittings manufacturing space are developing a robust market entry strategy. A robust market entry strategy helps the client assess the less penetrated market segments and improve their product offerings. Moreover, with the help of a robust market entry strategy, leading businesses in the hoses and fittings industry can increase sales, enhance brand awareness, and improve their business models.IR_Brochure

To attract new customers and gain a thorough understanding of the hose and fittings market, the client approached Infiniti. With expertise in offering a plethora of services, Infiniti’s market entry strategy helped the client develop an effective marketing plan to maximize profits and ensure better business performance. In addition, an effective market entry strategy assists the client to gain detailed market information and devise a robust product strategy.

The Business Challenge

With increasing advances in tools and technology, manufacturers in the market are looking for promising solutions such as hydraulic hose and fittings. A renowned hydraulic hose and fittings manufacturer with a considerable number of manufacturing units across the globe was facing predicaments enhancing their product positioning and breaching across niche market segments. The hose and fittings manufacturer wanted to devise a robust market entry strategy to improve their market performance and gain better profit margins for their products. Furthermore, the hose and fittings manufacturer wanted to reduce their operational expenses and further increase their productivity to gain better ROI.

IR- market entry advisory

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Market Entry Strategy Solution Benefits:

  • Identified the potential target market and delivered goods and services
  • Increased sales, brand awareness, and business stability by entering a new market
  • Estimated the potential market size and revenue patterns and identified the target segments
  • Developed a robust product pricing strategy to maximize profits and increase ROI
  • Attracted new customers and reduced the cost of production
  • Targeted new geographic markets for existing products

Benefits Of Our Integrated Approach

With the help of this robust market entry strategy, the hydraulic hose and fittings manufacturer was able to penetrate across niche market segments and enhance their offerings. The client wanted to further segment the market based on the product segmentation and portfolios. Furthermore, the engagement also helped the client develop an effective go-to-market approach and ensure better economies of scale.

A must-read case study for strategy experts and decision makers looking to develop an understanding of the hose and fittings market space.


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