For decades the world has remained in a comfort zone. Business models have been largely ‘analog’ in nature – reliant on cash transactions, human contact, and centralized office spaces. As we enter the world of ‘digital’ brought on by the COVID-19 Pandemic, the adoption of new technologies will change the world as we know it.
Year: 2020
5 Ways to Improve Procurement Performance
I apologize for using the cliché ‘new normal’ but we really do have to accept that the practices and expectations of procurement in the modern enterprise have changed and may never be the same again. As a result of the disruptions caused by COVID, procurement is no longer a clerical and transactional role but needs to step up to show how it can be an important channel in dealing with customers and suppliers.
Considerations and Barriers to Adoption of Smart Manufacturing
Smart manufacturing is enabled by digital transformation. Fully implemented, it optimizes the manufacturing process through technology, like IIoT, artificial intelligence (AI), machine learning, cloud and mobile, driving cost efficiencies through every phase of the process.
The Technology that Drives a Customizable User Interface and Healthy Eyesight
I really should get my eyes checked or perhaps just give them a bit of a break away from the screen. All I’m doing lately is staring at a screen – for work, fitness, education, and socializing – “connecting” with people in a socially distanced world, but man alive this headache is getting the better of me!
Learning Strategies for the New World of Work
If nothing else, 2020 has shown that learning new digital tools and technologies is important for everyone. The world has been accelerated into new ways of thinking and doing things. People have discovered that they can learn new skills which, at the start of the year, they had never even thought about. This puts businesses in a different situation when it comes to training and upskilling staff. Like so many other business functions, the HR and IT departments need to re-examine their goals and strategies for training, talent management and succession planning.
Driving Deep Customer Value in a Time of COVID-19
In the midst of global uncertainty, customers are seeking a greater degree of reassurance. The emergence of Covid-19 has compacted and compounded issues, to the point where customers are needing more regular project feedback. Status updates topping and tailing the business day are called for, as there is a noticeable increase in urgency levels. There is an underlying level of uncertainty within the current ecosystem, as changes to the business environment necessitate immediate adjustment. On the customer’s journey to the solution, we have noticed a shift away from long-term goals, in favor of short-term tasks. Smaller projects like automation builds, maximize benefits while increasing business flexibility.
What Does it Take to Pivot? Here are 8 Ways to Make Your Business More Agile
Car manufacturers rolling ventilators off the line. Breweries pumping out hand sanitizer. Laundry and uniform businesses outfitting healthcare workers with PPE. If there’s anything I’ve learned tracking companies through their COVID-19 pivots, it’s this: success means being agile.
Should Manufacturers Consider Coming Home or Stay Offshore?
It seems strange in August 2020 that only six months ago we accepted that many of our components should come from Asia. How times have changed! The thought of relying on one supplier in a far-away country now keeps many supply chain managers up at night. The primary consideration for procurement departments is no longer around cost but around reliability and availability. For manufacturers, the only way it seems possible to resolve these issues is by bringing suppliers back onshore – suppliers within the same region or country.
6 Challenges Facing Procurement and How to Address Them
The effects of the Coronavirus pandemic are far from over and a recovery timeframe is anything but certain. Among the strategies that businesses are adopting during this time in order to keep costs in check and reduce the size of layoffs, is to focus on procurement to maintain ongoing supplies of materials and components, and to reduce the risk of unanticipated costs. Procurement is no longer the department that gets discounts and places orders, it now has increased strategic value.
