For many years organisations have achieved reduced design cycles, faster time-to-market and lower costs in highly competitive markets. This has not changed - the difference today is the additional contribution of digital methodologies and technologies.
Many industries are only now beginning to realise the impact of the digital revolution. But the benefits that digital methodologies and working practices can bring to manufacturing are already providing significant competitive advantages to some. By increasing the pace of design and innovation, reducing the costs of production and maintenance, and increasing the impact of marketing, businesses are able to understand in more detail what products to focus on, how to manufacture them efficiently and how to manage them accurately.
We believe that every manufacturing business should be asking these questions:
- How will digital disrupt my industry in the next five to ten years, and how will it affect my business?
- What is the value of my current product portfolio and how can I maximise it?
- Can we improve the way we manufacture?
- Can we develop new products competitively with what we have today?
- What new capabilities, skills, and culture will we need in our organisation?
- How will we identify, recruit, and retain the right new talent?
- What should we try now to start capturing this value?
You don't need to be a fully integrated digital business to take advantage of the benefits that innovation can bring, but as more and more businesses begin to make real progress, not doing anything is becoming more and more risky. One thing seems certain: in marketplaces where profit margins are thin and consumers demand ever more sophisticated products and better service, digital will lead some companies to success quickly, while slower moving competitors fall further behind.
When considering if your manufacturing is fit for purpose or just running a health check, you should include:
- Analysing and optimising manufacturing.
- Analysing and optimising the product lifecycle.
- Enterprise resource planning (ERP) - design and implementation.
- Supply chain auditing.
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