Adapting Manufacturing for the digital transformation – To take advantage of the opportunities presented in the digital era, manufacturers need to step up their adoption of a range of new technologies and their collaboration with their global network of suppliers.
Digitization is changing the manufacturing world in dramatic ways. Product development cycles are decreasing and delivery models are increasingly evolving. Software-enabled innovations are creating new service-based business models that are replacing existing products and re-ordering industry dynamics seemingly overnight. Innovations from companies such as Uber, Airbnb, and Apple are completely disrupting the status quo of business and the world as we know it. Others, such as Tesla, may be doing so as we speak. To stay competitive, companies must be flexible and able to quickly adapt to new technologies.
As a manufacturing company, your goal should be to know real-time how well you are performing, and to be able to quickly change course as the need arises. The sooner you are able to make course corrections, the less it will cost you, the more you will gain, and the more likely you will be successful. With collaboration, you can become more agile, increase performance, and add value with every transaction. This is the foundation for how your business meets the needs of the digital age.
Manufacturers need to initiate a new business model, which serves to enable a seamless flow of data among systems that optimize the path from innovation, through design, engineering, production, utilization, and service, bringing the value chain together. Speed and collaboration are the differentiators for the digital age, helping to support whatever business models best meet the current needs of the market. Tying manufacturing directly to the needs of your customers and collaborating with your suppliers throughout the process helps to validate that you have the right offerings and are able to quickly adapt as market needs change.
Digitization is enabling new business and revenue models that may be difficult to support without rapidly embracing new technologies. This is an exciting time for manufacturers, and Kaygen’s team of specialists are poised to help you, to ensure your are prepared and can adapt:
Kaygen specialists can help you address these challenges and help your manufacturing organization adapt to today’s competitive landscape.