Tag Archive: roadmap

Digitization of the Supply Chain is Accelerating

August 28th, 2020

With COVID-19, the rise of e-commerce, and the pressures of profitability, Industry 4.0 and the digitization of the supply chain is accelerating. What was on track for 2030 prior to COVID-19 should be expedited to 2021 or 2022 to keep pace with needs. For example, according to the Wall Street Journal, Fed Ex is installing robots with eyes and brains that allow them to sense and respond. Smart companies are not only proceeding with technology plans but expediting them. What is happening in your industry? What should you be investing in and/or implementing to stay ahead of the curve in providing a superior customer experience profitably?

What Should We Consider and/or What Impacts Could Arise?
Undoubtedly, you should dust off your technology roadmap. Technology is never something to do simply to keep up with technology the competition is using.  Instead, think about what you need to simplify, automate and predict. Think about how to provide a superior customer experience and think about how to help your customers predict future sales and/or end customer needs. And think about how to increase profitability and efficiency. From this mindset, what technology would add value to your business?

Several clients are in desperate need of upgrading their ERP systems. Of course, it is easy to put off such a massive project and investment.  Ask yourself this question: When do you need the functionality to support your business? If you need it within the next year, you do not have time to delay! In addition, many clients need e-commerce, CRM, sales forecasting and other customer-related technologies. Do you think you have time to wait to provide extra value to your customers? I doubt it! Finally, we are also noticing that technologies that enable efficient manufacturing and supply chain operations are increasing in importance. As a result, predictive forecasting and planning systems, WMS and TMS systems and more are gaining in popularity. What makes sense for you?

Read more about these types of topics in my eBook,  Future-Proofing Manufacturing & Supply Chain Post COVID-19. Gain ideas and strategies to successfully emerging from COVID-19 and thrive in 2021. If you are interested in doing an assessment of your current situation, associated risks and opportunities and how to navigate changing conditions, please contact us.

Please share your stories, challenges, ideas and successes.



Will Technology Gain Critical Mass in Manufacturing in 2020?

January 6th, 2020

 

 

 

 

 

 

 

According to an Industry Week article, recent predictions say we are headed into the year where technology gains critical mass!  That is truly exciting for manufacturers as people and robots work in collaboration to achieve profitable growth and success. Of course, it isn’t all about robots but it provides a good visual for the conversation.

 

There are all sorts of technologies to consider including robots, collaborative robots, wearables, IoT, additive manufacturing, 5G, AI and more. By NO means should we jump on the next fad.  Yet, we should be aware of these technologies, the progress of the technologies and be ready to take advantage of opportunities. Your smart competition will be! When technology gains critical mass, not only will your competition have the edge but it will accelerate the rate of progress.  This means you will be left inching your way from the start gate when your competition passed you in the victory lap with profitable growth, superior customer experiences and happy employees. Are you considering your technological footprint?

What Should We Consider and/or What Impacts Could Arise?
Without a doubt, shift into high gear when it comes to getting educated on the technologies that support your industry and your supply chain partners. You do not need to throw bunches of money at this issue but gaining prudent proactive knowledge is a must. Understand your landscape and which technologies might provide an advantage in the marketplace. Be willing to invest in testing and trials.

Involve your team and extended supply chain partners in collaborating and brainstorming on win-win-win strategies to achieve key objectives. We live in a collaborative world.  We need to see our partners as partners – not vendors and the competition. From this point-of-view, in my ProVisors group of trusted advisors, the most successful members believe in referring business they could do themselves if they think it is slightly better off with their competitor. It is counter intuitive and ends up turning 1 + 1 into 4 with more business for all. The same will hold true with your supply chain partners.  With that said, being collaborative is not an excuse to be negligent. You have to watch out for cyber security and a host of other issues that could arise.

At a minimum, re-evaluate your technology roadmap.  Remember, this is identical to strategy in 2020. A strategy looking 5 years out is pointless, even a year out is suspect. Instead, you need a roadmap of guidelines with the flexibility to be resilient and the attentiveness to take advantage of opportunities as they arise. In essence, future-proof your manufacturing organization and extended supply chain.

Check out our new LMA-i, LMA-Intelligence series including Future-Proofing and contact us if you’d like an assessment path-forward plan to accelerate your bottom line and customer performance.