Business Transformation Services
In a future-ready high-tech enterprise, 'return on innovation' is the new ROI, being 'dynamic' is the new 'static,' and product engineering is the 'new shop floor.' It's possible. But how can companies get here? The opportunity lies in keeping pace with the rate of change in market needs and business strategies, while successfully navigating a continuous cycle of new business models and better operational execution.
The differentiator for futuristic companies, however, lies in understanding changing needs and responding through an integrated dynamic approach – enabling them to craft the future while others follow.
Challenges and opportunities
Core vs. context: Now, more than ever,enterprises need to focus on what they do best: understand the market and build for the future. For the rest, there are partners — whether it's product assembly, third-party logistics, or payroll. This helps reduce capital expenditure, addresses variability of business, and ensures that the focus stays where it should – on the core.
Supply chain complexity: Outsourced manufacturing bases, forecasting demand, exponential SKU growth, and a global customer base are variables that add to the challenging task of managing an increasingly complex supply chain. But this supply chain also holds the key to customer satisfaction, inventory turns, and most importantly: operational effectiveness.
Continuous evolution of technology: Sociotechnological forces like the shift from desktop to mobile computing, the emergence of developing economies, the personalization of customer engagements, and increasing bandwidth have created an enormous opportunity for enterprises to innovate their business models, product lines, and customer service processes.
Product engineering is the new shop floor: For traditional manufacturing companies, addressing efficiency and quality issues through lean and Six Sigma was the norm. companies face a new normal – their 'shop floor' comprises product engineering divisions spread across the globe. To enhance throughput of products and new intellectual property, the way forward is to create collaboration platforms, build reusability, and use standard operating tools and procedures.