August 17, 2020
With COVID, 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 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; however, 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 to be increasing in importance. Thus, 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 coronavirus 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.