In this fast-moving industry what approaches would help manufacturers identify robust solutions that address the challenges relevant to them.
Management Insights on Direction.
Draw insights on the Economy: Markets existing and new, Industries and Government: The business environment in particular taxation and regulations.
Do – MOST (Mission, Objectives, Strategies, Tactics) model.
Industry impact on Business Operations.
Evaluate Business models: Operations and Competitors, Talent acquisition: Gig economy and global workforce, Supply chains: Transport, Suppliers, Sales & Marketing: Market, Customers
Do – Porters Five Forces (Rivalry, Suppliers, Customers, New Entrants, Substitutes) model.
Seek solutions to the 4th Industrial Revolution: Technologies and Innovation, Operations: Products, Services, Technology landscape: Internet & Cloud computing, Robotics AI & Machine learning, Bio & Green technologies.
Do – Technology Evaluation Matrix.
Put in place suitable KPIs based on the outcomes required from the solutions to be implemented, measuring What areas or initiatives, Why you are doing this for performance or improvement, How it will be measured KPIs or success factors.