US-based Rockwell Automation, the world's largest company dedicated to industrial automation and information technology, was in T&T recently where they partnered with their only local authorised distributor, Warren-ECM of Charlieville, Chaguanas, to train key people from various industries to improve competitiveness.
With T&T facing an economic downturn, over 70 companies from the oil and gas sectors, food and beverage, water and waste water management/ utilities, HVAC and electrical contractors took part in the two-day programme, geared at leveraging real-time decision-making to drive profitability.
Rockwell Automation shared with these companies solutions and trends to help them become industry leaders.
They were exposed to the Industrial Internet of Things (IoT) and advancements in enabling technologies including data analytics, remote monitoring and mobility. This supports the vision of a Connected Enterprise which opens new worlds of opportunity through greater connectivity and information sharing.
"The Connected Enterprise helps operations managers profitably manage and improve manufacturing and industrial processes. It helps IT executives reduce network complexities and exposure to information security risks. It shares productivity-improving information to workers across the organisation in a context that is meaningful for each role.
"The information-enabled Connected Enterprise is a more competitive enterprise. It creates tremendous opportunities for those taking advantage and great risks for those not preparing a strategic response," according to Rockwell Automation.
Further, capitalising the metrics associated with Big Data, these products, solutions and training offerings enable industries to improve their processes and modernise their plant and equipment which can lead to additional cost savings and higher efficiencies.
The organisers concluded that investments taken at this time can lead to positive outcomes that are similar to McKinsey's study of the 1990s.The McKinsey Quarterly (June 2002) published research that tracked nearly 1,000 US industrial companies from a range of sectors from 1982 to 1999, which included the recession of 1990 to 1991.
McKinsey's analysis revealed that lagging companies that became leaders, post-recession invested proportionally more than their competitive set in innovation, and leading companies that retained their leadership position spent proportionally more on research and development during the recession than their peers who lost leadership positions.
Throughout the world, Rockwell Automation flagship Allen-Bradley and Rockwell Software products brands are recognised for innovation and excel in continents and countries such as the Middle East, Europe, Africa, North and South America, Venezuela, and T&T.