The Power of 1% – Where’s Your 1%?

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Recently I attended the GE-IP User Summit in Orlando. There was a whole lot of buzz about the Industrial Internet and the Power of 1%.

The idea behind the Power of 1% is simple. Yet, as the name implies, very powerful indeed. Take any industry. Improve its efficiency by just 1%, reduce its energy consumption by just 1%, or increase its output by just 1%. And you’ll be talking about a very large financial benefit.

GE claims that Just a 1% improvement in aircraft engine maintenance efficiency can reduce costs by $250 million annually and that A 1% fuel savings in power generation could add $4 billion annually to the global economy.

Industrial Internet – The Next Industrial Revolution is Here

Impressive numbers! I’m sure they’re real – and achievable. These grand goals are what the Industrial Internet can and almost certainly will achieve. It’s no longer just about your plant, or even enterprise. It’s about savings on a global scale.

Still, what about your enterprise or plant? Or even that troublesome forming machine on line 3 that’s been giving you grief? Do these concepts apply here? Or are they big league buzzwords that you can safely ignore?

Answer: The concepts apply to your plant as easily as they apply to the global economy. Question: Where’s your 1%?

Take a look around your factory. Where are the areas that cause you pain on a regular basis? Is there a business case to be made there?

Better yet, ask your accounting department where the largest costs in your process are. What would a 1% reduction in those costs look like? How would that feel if you could achieve it?

Viewing your MES initiative as a business opportunity rather than an IT initiative can drive a very different discussion. Size your initiative around the size of the prize!

And once you claim that victory … where’s your next 1%?

You’ve got questions? info@factorasolutions.com