Harsh industrial environment...this means a maximum operating temperature of...what? 0 to 60C, or -20 to 75C ?
You have to determine whether your heatsinking will be sufficient at worst case loading conditions, and apply the proper thermal solutions.
Also, what sort of IP rating will be required? I would guess IP67, which would prevent using fans.
Additionally, what other environmental concerns are required? Sulfur and harsh chemical tolerance? Conformal coating or even full potting may be required.
Vibration? Sturdy board support is required. Components may have to be RTV'd to the board, electrolytic caps for sure.
EMI and ESD? What ratings should it comply to? You may find that not only a significant amount of protection and suppressing devices are required, but the layout itself is very critical.
Failsafe operation? What can you do to prevent system damage is a component shorts out? Are you going to have monitoring and advise that a fault has occurred? Do you have a safety component of last resort, like a fuse? What if an output drops out of regulation or is overloaded, how do you communicate that? RS485, CANbus, a relay contact or at least a simple visual indicator?
What countries will this units be installed? Or to put it with other words, which regulatory agencies you must comply to?
What is the input voltage range? 12VAC is nominal, but what are the minimum and maximum ratings?
Does it have to be RoHS, or WEEE certified?
Any other specific requirements, like cycle-loss ride thru?