Digital technology has played a vital role in the manufacturing industry for years. Compared to other industries, manufacturers are ahead of the curve when it comes to incorporating digital technology into business processes. Today though, digital is no longer simply a tactical aspect of the manufacturing business – it’s becoming vital to pursue end-to-end digital transformation in order to achieve objectives like improving efficiency and quality, reducing costs and waste, and creating innovative products and services.
Digital transformation is about applying technologies to radically change traditional processes, products and services into data-driven, highly connected solutions that can be monetised through extreme efficiency gains and entirely new business models. With a digital-first approach, the manufacturing industry and firms are accelerating time-to-market, providing new customer value through digital experiences, managing complex global value chains and innovating to dramatically improve the customer experience and create new revenue opportunity. In short, the promise of digital transformation is just that – transformational.
But driving digital change is easier said than done. While the benefits that digital transformation offers are tremendous, there is no single, one-size-fits all approach. Each firm’s journey is unique. As a result, finding an approach that fits your business is critical. There are also a number of pitfalls to avoid. Well-crafted strategies can easily fail to be fully realised unless they are supported in the right ways, resulting in lost investment, lost time and an erosion of organisational support.
Setting a course
To set your firm on a course that makes sense for your business, it helps to consider three foundational guidelines. Regardless of your specific business situation, using these guidelines during the early planning stages will strengthen your overall outcomes and increase the likelihood of a successful initiative.
Remember, the best laid plans can easily go awry without knowledgeable execution or partners who understand the intricacies and best practices of your industry.
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