Cyberattacks, Supply Chain Vulnerabilities & What to Do
The Wall Street Journal reported that China-linked hackers breached U.S. internet providers. This hacking campaign termed Salt Typhoon is the latest attack into valuable computer networks.
The Wall Street Journal reported that China-linked hackers breached U.S. internet providers. This hacking campaign termed Salt Typhoon is the latest attack into valuable computer networks.
According to the WorldMetrics.org report, 89% of manufacturers believe automation is key to increasing productivity. More importantly to increasing profitable growth, the report also finds that automation reduces manufacturing lead time by 75%.
Supply chain is in a state of volatility, uncertainty, complexity, and ambiguity (VUCA). Whether you look at the impacts related to wars and chokepoints throughout the world, the uncertain economy and resulting backlogs, or the uncertainty of the reliability of key sources of supply [...]
Companies are overwhelmed with data. There is ERP related data, global supply chain data, world economic data, industry and market data, customer and supplier data, email communications, and the list goes on.
As geopolitical and economic risks rise, executives become more concerned. Proactive clients are taking action to boldly invest where it makes sense while aggressively focusing on inventory and cost reduction of non-value added items/ work and also ensuring high customer service levels.
There are around 3 million industrial robots in use worldwide, and the market is expected to grow to $45 billion by 2028. At a minimum, robots can perform routine tasks with consistent quality. At a maximum, robots will be a strategic advantage to your business. It is no wonder clients are implementing them at a fast pace and investing widely.
Although production and materials planning can be overlooked in its importance in most companies if going smoothly, it is cornerstone to success.
Clients are struggling to keep up with customer's changing requests. Order backlogs remain relatively high (depending on the industry), but customers are pushing orders out at the last minute, pulling orders in without notice, adding future potential orders, and changing requirements on the fly. Production is scrambling to keep up.
In working across company sizes, industries, and geographies, in almost 20 years of business consulting, every single client without exception needed to better utilize data to improve customer service and bottom line results. Smart clients are turning data into insights so that they can pinpoint where to focus quickly.
Manufacturing is on a downward trend after eight months of PMI (purchasing manager's index) below 50. It dropped to 46 in June. China's manufacturing also shrank for a third month in a row to a PMI of 49. Yet manufacturers backlogs remain relatively robust in many industries, leading executives perplexed on what to do about capacity shortfalls.