CLAREMONT, Calif., August 1, 2023/ExpertClick/ — Proactive innovation and disruption are helping businesses to succeed in the current volatile economic environment, according to The Society for the Advancement of Consulting® (SAC). The best companies are leveraging their culture of innovation and advanced technologies to enhance customer experience. Without it, companies risk extinction.
Advanced ERP Boosts Manufacturing in Current Unstable Economy
“Manufacturers must innovate and use advanced technologies to take advantage of these volatile economic times,” points out Lisa Anderson, president of Claremont, CA-based LMA Consulting Group, Inc and manufacturing expert known as the Strongest Link in Your Supply Chain®. “Manufacturers need to do something different than simply trying to navigate increased interest rates, labor costs, raw material, and component costs, while also managing elevated customer expectations.
“Successful executives will create a culture of innovation, so that they are more than simply resilient. They leapfrog the competition and take advantage of opportunities,” she adds. “Instead of focusing solely on continuous improvement, they fast-track progress by expanding the use of ERP with advancements in AI, e-commerce, advanced planning and scheduling, SIOP, IoT, digital twins, and much more. The appropriate use of systems and technology creates a superior customer experience, maximizes profitability, and supports sustainable growth.”
Five Crucial Questions to Standout in a Shaky Economy
“Stand out from your competitors!” advises Kathleen McEntee, president of Kathleen McEntee and Associates Ltd, a full-service marketing firm focused on delivering results by distinguishing businesses with straightforward messaging addressed in the right media to the right audiences. “When the economy gets wobbly, organizations need to shine.”
“Leaders should pose five questions,” she explains. “What is our customer experience? How can it be improved? How do we distinguish our products and services from our competitors? How do we leverage technology to raise efficiency and improve our service and product delivery? And, are our employees true brand ambassadors?”
“Customers want a great experience, with products and services that stand apart from competitors,” notes McEntee. “Technology improves the customer experience, expands our products and services, and creates internal efficiencies. And, our employees should be living the brand.”
Use This Time to Gain Competitive Advantage
Uncertainty and volatility may generate disruption, but they can also create opportunities. Those companies that look for ways to improve their customers’ experiences—in good time and bad—will thrive and prosper, says Linda Popky, president of Redwood Shores, CA-based strategic firm marketing firm Leverage2Market Associates, and author of the book Marketing Above the Noise: Achieve Strategic Advantage with Marketing That Matters.
“This is a great time to look for innovative ways to help your customers. Some times, that involves technology, but others it may mean adding a more human touch that your competitors are lacking,” she said.
Disrupt or Disappear is the New Business Reality
“The current economic conditions are not unstable but simply part of the New Normal® and new realities that all businesses will face,” says SAC Founder Alan Weiss, PhD. “Go on the offensive and create disruption and volatility if you intend to dominate your market. If you try to ‘wait this out’ you will probably disappear.”
As originally published on ExpertClick on August 1, 2023