If you’re the head of a company that’s been making pumps for the last 100 years, your company knows your product and knows what the definition of a pump should be. But now the definition of ‘what is a product’ is changing and it’s changing fast. So how is it that you can keep up to date and remain relevant in a world when your bread and butter product is below the price of entry in a competitive marketplace?
Over the last 10 years there’s been the trend for including embedded software and electronics (it’s almost certainly a trend that’s now ingrained in the way that you work). But now a new challenge is emerging; moving from a smart pump to a smart, connected pump. There are new technological opportunities that need embracing, but it’s hard to know where to start. After all there’s now big data, security, mobility, cloud and so on – a whole host of areas you never had to think about before.