A Story of How One Company Disrupted the Industry to Stay Ahead of the Competition
Navigating a business in the 21st century means doing things differently or being left behind. If a business isn’t willing to disrupt themselves to disrupt the industry, someone else will. If we think about the wasteland of businesses that have been left behind in recent history, some very well-known names have been put out to pasture by new players with business models that did not exist even a few years ago. Netflix, Google, and Amazon are just a few disruptive examples.
It is not just consumer-focused companies that can be pushed aside by not looking to the future; B2B businesses need to be just as wary of others who will change the game. This includes the Energy & Materials industry, which features some of the world’s oldest companies. Many of them are beginning to recognize that they must change their business models if they are to remain relevant in light of increasing complexity and competition.
One such company is 96-year-old McDermott, a Houston-based global oil and gas, subsea company that designs, fabricates and installs facilities. Seeing an opportunity to make a step-change in how it could help oil and gas customers increase and sustain their productivity, McDermott determined that a more collaborative approach to engagement inside and outside its business was required.
To realize its objective, McDermott undertook a successful business transformation initiative that focused going beyond the digitalization of its business to do things differently within its organization and how it works with its customers. It now offers its customers a unique, collaborative value-adding approach to engagement, execution, and understanding – a 3DEXPERIENCE twin – which captures and puts to work all the data related to the operations it designs and implements.
While a typical facility lasts 40 to 50 years, McDermott’s involvement has generally been in the first 5 – 7 years. But, by providing their customer with a 3DEXPERIENCE twin that they can keep alive over the life of their facility, digital continuity is maintained, allowing for better execution and maintenance. No loss of knowledge will ever occur when employees leave the facility, even over decades.
“What we are doing here at McDermott is bringing in a platform that handles massive amounts of data, and makes sense of that data, and use that data to be able to create a single source of truth and turn the product into a digital twin, a digital manifestation of the physical reality” – Vaseem Khan, Vice-President Engineering McDermott.
For McDermott, and their customers, this means that they can continue to their partnership the life of the project.
We invite you to join Dassault Systèmes at Downstream 2019 In Houston, Texas this June 11-12 to hear about our solutions for the energy and materials industry.
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