Digitalization: Transforming the Field of Manufacturing

Gone are the days when operational excellence was the end-measure of manufacturing prowess. Today, and in the foreseeable future, digital integration and agility will be the lifeblood feeding thriving manufacturing enterprises. Failure to embrace and actively nourish digitalization will leave manufacturers scrambling to survive an ever-accelerating and competitive business environment.

To stay ahead of the fray, competitive manufacturers are embracing digitalization and using tools that it offers to shift their focus to key topics that have often been overlooked in the past. Addressing these will be essential in sustaining long-term success in the evolving and accelerating business environment and will impact and shape manufacturing of the future. Embracing and investing in these, previously overlooked, elements will lead to a competitive advantage and differentiation.

1. 1) Exploiting new markets and customer segments

• • • • Target market opportunities that exist in specific niches or gaps in the market that have potential for profitability and that will generate growth.
      • Recognize that market opportunities are not static and can emerge at any time.

• • • • Focus on positive customer experience will drive the development of operating models.
      • Prioritize three essential principles of customer satisfaction: relationships, reputation, and responsiveness. (LinkedIn pulse)

• • • • Embrace opportunities by shifting focus from sustaining current practice to capitalizing on new audiences, finding new solutions, and building new partnerships.

• • • • Connecting operations, industries, and relationships through ecosystem strategies to maximize efficiency of operations.
      • Meeting or exceeding customer expectations by fostering creative and robust interplay between all aspects of manufacturing processes.

Investment in these critical and cutting-edge facets of business give manufacturers the edge in the ever-complicated and competitive market. Embracing new tools and technologies, cultivating creative solutions, and making customer care and engagement a priority, manufacturers can ensure their place in an evolving marketplace.