The last few years brought unprecedented levels of volatility to M&O organizations, intensifying the already fierce and competitive global marketplace. As a result of the pandemic, geopolitical tensions, and rising inflation, stakeholders are doubling down on the importance of streamlining their complex and disconnected value chains and improving sustainability. They’re also focused on creating new services to add greater value, improving operational excellence to stand out in the industry, and driving efficiency in operational security and compliance efforts.

M&O organizations need to eliminate information silos that don’t allow for straightforward sharing of critical information, facilitate collaboration within the organization and across the value chain to drive innovation, improve product and service delivery, and improve planning and scheduling of at-sea operations. In addition, they need to develop agility and resiliency in adapting to customer requirements and maritime regulations, all while reducing labor costs and innovating new business models, services, and value.

A centralized, digital unified-data platform, built to enable collaboration within and across organizations, will allow M&O organizations to connect their entire value chain and use data-driven insights to drive efficiencies. Digital twins—virtual representations of physical objects or systems—can be created for products, performance, and production to drive results in key areas. When integrated with simulation and collaboration tools, the use of digital twins yields fewer physical prototypes and tests, more predictability in performance, and reduced risk and greater likelihood of success when implementing complex systems. These digital tools can drive operational efficiencies, shorten lead times, and deliver better profitability.

Every Marine & Offshore stakeholder wants to do better with less. Those that embrace a digital transformation are the most likely to succeed in achieving agility and flexibility in operations, innovation, compliance, and sustainability.