With economic and political upheaval across the globe manufacturing organisations are facing challenges and opportunities. One of the hurdles emerging now has to do with the ability to harness the opportunities that will come out of new and changing markets.
Businesses need to be technologically ready for growth, development and increased demand, let's look at 5 development areas below, read our Executive Summary for more information.
The five development areas
We have identified the following five areas where there is a great need for innovation and adaptability.
- New business models
Moving from production-intensive business models to e.g. re-manufacturing and repair – in order to create a sustainable business.
- Internet of Things and “smart factories”
The ability to benefit from some of the fastest moving technology innovations.
- Making data work harder
Understanding the huge potential of Big Data and how to use new intelligence to feed into product development, quality improvements, market research and much more.
- Improving customer relationships
Using information and analytics as skillfully for improving customer-oriented processes, as when employing talent and purchasing machinery.
- The competitive advantage
Understanding how to set up the building blocks to effectively compete on both a national and international scale.
The challenges of progress
We all know that investment drives innovation and we believe that the next few years will play a key part in re-imagining the business models for the UK & USA. Is your organisation agile enough to cope with these changes?