Over the past several years, industrial manufacturing has grown due to demand from emerging markets and low interest rates. However, the gradual changes the industry has experienced have given way to more volatile and negative markets. In 2015 the market saw a sharp reversal due to macro-economic factors like slowdown in global demand and price drops in several major commodities.
The industry is facing significant challenges and opportunities as new trends emerge:
IT and Business are both suffering from ERP transformation fatigue. Business and process automation can help transcend ERP and deliver capabilities rapidly.
User-centricity, Design Thinking, channel management, and user experience (UX)/CRP-driven feature development are critical to creating services and capabilities for greater impact.
There is an influx of new products and business models such as the agile approach that ensures faster time-to-market and DevOps that helps to bridge gaps.
Companies are struggling to leverage the Internet of Things (IoT) and connected systems to create intelligent product delivery chains.
How can companies overcome these headwinds and negative sentiment reflected in declining stock prices? The good news is that these emerging opportunities provides the promise of growth, and a positive new normal in a world that returns to historical consumption patterns.
New strategies with a renewed approach for the Industrial Manufacturing industry
The next big shift in the Industrial Manufacturing industry is here. It is not just about quality and numbers, but also about adapting to the digital age of technology and information.
It is now necessary to be in sync with your customers’ requirements, as you can no longer expect them to just consume what you manufacture. At Magath, we use cross-platform compatibility and collaboration to reach out to a wider client base and connect better with customers. Digital technology has helped us make the best use of analytics to improve our engagements. Our Project Driven Supply Chain (PDSC) and Service Transformation solutions are some examples of conceptualized and designed industry standard solutions.
Reducing costs and improving productivity are ongoing challenges in this industry, and are the focus areas of our strategies for renewal and improvement using Next Generation AMS. Modernization of legacy systems, reducing time to market through the use of agile practices, and automation in AMS engagements are also key opportunities.
The Internet of Things (IoT) is not just a buzzword; when used correctly, it can have a major impact on industrial manufacturing. It can help make the best use of the production line with the application of predictive maintenance and analytics. Further, the Next Generation Application is another area where we bring our “new” approach to make a difference.
Through the continuous use of digital technology, we ensure that business benefits are aplenty. These include a significant improvement in the Quality of Service (QoS) due to the efficiency of analytics, as well as a lower TCO and maintenance cost. A lower time to market also means an early realization of business value.