Demographics change who is buying and creates new demands by the customer. Demographics predictably change your workforce and leadership of every constituency your business has. Do you have specific plans in place to address those changes? Give some thoughts to these key points.
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Customers, suppliers, employees, investors, the community – none of them are satisfied with the status quo. How do successful manufacturers stay on top of all those changing expectations? The reality is you cannot neglect any of them. It’s a lot to juggle, but it can be done.
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If people want to be part of the gig economy, and more and more do every day, we manufacturers must integrate that option into our all-too-often stale staffing policies. Temps, employees, gig workers, consultants – they are 4 distinctly different type of working relationship. Know when to use which, and how to attract the best, for mutual satisfaction.
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New business models are sprouting for manufacturers. One of them is product-as-a-service. All major changes are uncomfortable, and exciting – including this one. Is it right for you and your market? Here’s how to tell.
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A process for implementing IoT in your manufacturing business is important. Don’t just start putting in sensors, but rather follow the steps outlined in the visual next to this on my website. This podcast walks you through a common and simple example to help you succeed with IoT.
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Transformation is a buzzword in common usage, but the word itself has real meaning. It is so much more than change. If you truly see the need to transform, the baby steps of improvement won’t get you there. Organizational mission (why) and vision (what) must reflect the future you are trying to create. Mission and vision are your True North. Strategy evolves, whether you are looking to transform or simply get better. Based on that, do you need to transform?
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Yes, technology is a common thread to the disruption of many industries. But technology is the great enabler, not the focus. Socioeconomic factors, as in the first industrial revolution centuries ago, are the driver. Profitable manufacturing will require leveraging of emerging technology soon. You—the leader—must concentrate on solving important problems that needn’t exist, and only then consider the role of technology in eliminating them.
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When someone enters your space using new technology, you can fight to protect your space the way you always have. But no one can stop time. To thrive in the next decade, you must identify, understand, prioritize and leverage new technologies AND business models that create and deliver value in new and profound ways.
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Business strategy relies on wise technology choices. There is a need for at least summary understanding of rapidly advancing technology options. Here’s why you can’t simply rely on your IT department to make the choices for you.
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No. You cannot ignore smart manufacturing. But you don’t have to do it all right now either. Consider these suggestions for how to evaluate smart manufacturing for your business.
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