By Carol Fitzgerald Tyler
Global Senior Practice Director, Organization Change Management | Infor

Challenging though it may be to create a vision that will transform an organization, it is crucial to effectively spread the message of digital innovation. Communication is often cited as the number one challenge for business transformation and change management. A strong communications strategy can lead an organization to a successful transform.  Leaders can encourage teams to innovate by communicating both the organizational vision and the acceptance of occasional failure. Companies with a clear vision are on average more effective in their efforts, and as a result, more profitable.

A strong communications strategy can lead an organization to a successful transform...

Not sure where to start in upgrading your operation? Map out an incremental approach. This article from Industry Week can help you get started.

Smart factories, digitization, and the Internet of Things (IoT) are all hot topics in the manufacturing sector, generating considerable buzz—and some consternation. These disruptive technologies are exciting, yet the complexity can also be overwhelming.

But with a practical, incremental plan of action, including options with minimal disruption and low-risk, even those who have been reluctant to embrace next-generation technology can get started on the journey. 

This is Part 3 in a 3-Part series on facing the competition.

Technology supports enhanced customer centricity.

Value-add programs are more important than ever as tools to overcome increased competition. Empowered by technology, new entrants into the market, as well as established veterans, are putting pressure on manufacturers to examine their mix of product offerings and services. Unless they want to risk commoditization of products or eroding market share, manufacturers must find ways to stand apart from their competitors. Enhancing the customer experience, from order entry to after-market service, is one of the most effective ways to build relationships that are resilient to aggressive competitors.

This is Part 2 in a 3-Part series on facing the competition.

How do you fend off competitive threats? 

With threats popping up from emerging players as well as mature contenders, maintaining market share in manufacturing industries can be difficult. You must be vigilant and ready to respond. Just as technology helps the new contenders step up their game, it also can help you identify early warning signs of eroding market penetration. Fortunately, there are also corresponding tactics you can deploy to boost your competitive edge.

Red ten warning signs the competition is making gains...

This is Part 1 in a 3-Part series on facing the competition.

Is it getting hot in here? The pace of change in manufacturing today is staggering. New markets emerge, seemingly, overnight. Micro industries and niche applications can light up the forecasts–then disappear—in a blink, leaving you with shelves of obsolete inventory. Trends come and go. Technology needs to be continually refreshed, and yesterday’s projections are ancient history before you even hit SEND on the report. But, the greatest danger of this break-neck speed of business isn’t in recognizing what’s ahead; It’s seeing who is sneaking up from behind.

A recent survey by MagnifyMoney ranked the U.S. metro areas according to where the average working woman could have the ability to better or maintain her financial health. We looked at the data from the perspective of how many women were employed in the manufacturing sector. 

While small, agile businesses may have some distinct advantages over larger competitors, they also face their fair share of challenges. Small Business Week (April 29-May 5) provides an opportunity to spotlight those challenges and what can be done to overcome the obstacles. A wide range of stakeholders rely on the success of small businesses. Small job-shops, fabricators, subcontractors, parts suppliers, engineering firms, and niche manufacturers play important roles in the overall economic stability of the industry. We need small businesses to thrive.

Small Business Week was in early May and it provided an excellent opportunity to celebrate the high success rate of small businesses in the manufacturing industry, while also offering advice for further growth. In this digital era of fast paced change, small businesses are ideally suited to seize unfolding opportunities. Their nimble nature, ability to make fast decisions, willingness to reinvent business models, and a passion for innovation give small businesses an important competitive advantage.

This latest release of M3 creates a great option for Infor customers on older ERPs to move to the most powerful
solution for Process Manufacturers. With the flexibility of deploying on-premise, or in the cloud, Infor M3 can meet
the needs of nearly any size process-manufacturing customer. Infor Consulting Services is available to help make
your migration fast and economical, while also assisting you in minimizing or even eliminating any customizations
you may have had in your older solutions. If your current ERP appears to be past its shelf life, now is the time to investigate all that M3 can provide for you.

The future looks bright for manufacturing. In the latest Manufacturers’ Outlook Survey from the National Association of Manufacturers (NAM), manufacturers’ optimism has risen substantially; almost 95% of respondents say they are positive about their own company’s outlook. This optimism is reflected in the UK, as well, with the EEF forecasting 1.4% growth in UK manufacturing in 2018.