Many companies face two dilemmas with respect to technology strategy—succession planning for retiring Baby Boom-generation CIOs, and keeping up with the digital transformation of their industry. In the past, those two issues were unrelated. But now, outdated technology platforms and legacy software solutions artificially constrain companies in both respects, making it difficult to respond to technological disruption, and limiting the choice of future CIOs to those capable of managing obsolete technology.
Digital technology is changing the world, one industry at a time. With these changes comes a reimagining of the supply chain, from the systems businesses use to communicate and interact, to the strategies they deploy to move goods around the world. Along the way, our expectations for speed, service, and quality go up, forever altered.
Digitalization gives rise to new business models, in which real-time connectivity, greater visibility, reactivity, and anticipation become the underlying characteristics of our supply chains. But this kind of change isn’t easy, and transformation doesn’t happen overnight. While many businesses have adopted technology to augment or enhance existing processes, they’ve still got a long journey ahead.
By taking a staged approach to digital transformation, and building greater connectivity across the supply chain, businesses can pave the way toward a fully-connected future, while still being able to tackle the biggest challenges they face right now.
Addressing the five common worries SMBs have over digital technologies
Digital technology is a hot topic in the IT world today. The media is buzzing with tales of total transformation occurring in a wide range of industries, from ride sharing in the automotive industry to the influence of Amazon® in the retail industry. Whenever such an abundance of hype arises around a topic, misconceptions inevitably creep into the dialogue. A common misconception plaguing small to medium-sized businesses (SMBs) is that their size may hinder them from joining the ranks of the digital-enabled.
This is far from true. SMBs can engage in digital strategies as well as any company. In fact, the SMB’s size often provides advantages, such as greater agility. In this paper, we address some of the common worries SMBs express and explain why digital technologies are essential for any growth-centered company, no matters its current size.
How do you identify the obstacles?
The year 2020 approaches with promise amidst a backdrop of innovation and transformation occurring at a speed never witnessed before. We’re experiencing a digital revolution that is changing the way we live, work and interact with one another. The power of information is just beginning to blossom as more of our decisions are based on data and use cases for artificial intelligence are delivering significant value. Meanwhile, global movements to protect the planet and operate responsibly continue to grow in importance. And an undercurrent of de-globalization continues to change the way countries and companies interact with each other.
Here’s a look at some of the emerging trends and themes you can expect to take shape in 2020.
Digital transformation is on the agendas of virtually all corporations today. It has risen to the top of strategic plans and has become the focus of businesses around the globe. So great an industry evolution, IDC indicates spending on technologies and services that enable the digital transformation of businesses will hit $1.97 trillion in 2022.
Digital transformation is impacting all manufacturing and distribution businesses. No matter how complex their supply chain is, manufacturers must be able to respond faster to change, reduce excess inventory, and cut costs. Most importantly, manufacturers must deliver to customers what's been promised, and on time. To keep up with the pace of change requires an agile and modern ERP solution that is flexible enough to handle both the opportunities and challenges manufacturers face today— and tomorrow.
Meeting customer expectations is harder than ever today. The bar has been raised. Many leaders in the equipment and rental business recognize that technology can help, but don’t necessarily know how to get started—so they don’t. In this paper, we break down the process into an easy-to-follow, step-by-step guide to help you integrate technology into every aspect of your dealership or rental firm. We can’t tell you what your strategy should be, but we can give you a game plan to help you get ready for the new digital economy you’re competing in.
The high-level issues facing food and beverage manufacturers today might feel like the same challenges the industry has been dealing with for years, but the context in which these challenges exist have changed dramatically. Consumer demand for greater product innovation and transparency, ever-increasing quality and compliance pressures, tighter profit margins, new channel opportunities, and a dynamic workforce are just some of the factors that are shifting market dynamics to the point where food and beverage manufacturers need to take a fresh approach to how they do business.
In some cases, technology is driving the change; in other cases, technology offers the solution. In this changing environment, successfully managing growth and profitability depend on how well food and beverage manufacturers can evolve while embracing modern technology.