How the Internet of Things will reshape future production systems

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Rich data, ubiquitous connectivity, and real-time communication are changing the way companies work. For leaders, that transformation will extend much further than the machines on the factory floor. For decades, many of the world's best companies have used their production systems as a source of sustainable competitive advantage (see sidebar "What is a production system?"). But such a system isn't just about doing things well, with fast, efficient manufacturing processes and consistently high quality. What differentiates benchmark organizations like Danaher or Toyota is their ability to improve those operations continually, at a pace their competitors struggle to match.