Just over 100 years ago, when the world was going through its previous pandemic (the 1919 Spanish flu), the organizational structure of divisions and departments we accept as normal were only just being defined, by people like Alfred Sloan and Frederick Taylor. Businesses came up with methods, based on paper, to monitor performance, and memos to communicate. A lot has changed since then but many businesses are still stuck in a traditional way of doing things and have not updated their practices.
Month: February 2021
Priorities for Manufacturing CFOs in 2021 and Beyond
Like many industries, manufacturing was hit hard by the pandemic. While manufacturers recognize the importance of technology and how transformative it can be, the rate of adoption has remained relatively low. As a result, many found themselves unable to adapt quickly to the challenges imposed by the pandemic such as supply chain disruptions, social distancing measures at the workplace and transitioning to remote work.
Intelligence – Not So Artificial – Is Becoming Essential
Brain Teasers
Close your eyes and count to 10 – well that’s easy.
Close them again and count to 51238 – not so easy – that would take you around 14 hours.
This demonstrates Data dimensions – Scale, Quantity, Time – the current standards.
4 Key Elements to Ensure Your Digital Transformation Strategy Implementation Succeeds
Competition among manufacturers is at an all-time high due to the increasing ease of cross-border trading, combined with customers demanding more options, cheaper, and faster. And if these challenges are not enough, organizations must also adapt to new conditions imposed by the pandemic, such as distributed workforces and less-financially-secure customers who are more hesitant to spend money.
Ways to Secure Your Digital Future
The world is still reeling from the effects of the COVID-19 pandemic. For most manufacturers, supply chain disruptions highlighted the need for increased connectivity and improved engagement with both suppliers and customers. The impact of those disruptions has also been far-reaching. A good example of this can be seen now as the global automotive industry faces a global chip shortage. In fact, some analysts believe that the global capacity gap may result in $14 billion in lost revenue.
6 Ways that Manufacturers Can Prioritize Employee Development in 2021
2020 showed the world that the remote workforce could become the new reality with the right systems in place. Besides the rise of virtual collaboration, many businesses have been exploring the option to fully automate a number of business functions to avoid future disruptions. The question is – what do all of these changes mean for the workforce?
