As the world learns to coexist with Covid-19, manufacturers are experiencing jarring changes in demand, supply and production. How will this impact the manufacturing enterprise? What will these changes mean for manufacturers and their efforts amid severe capital constraints to thoroughly modernize in the post-COVID-19 age?
Covid-19, the most significant public health crisis in modern history, has forced manufacturers to create virtual war rooms to contend with supply challenges. Moreover, the prolonged pandemic has surfaced unprecedented physical asset management issues (i.e., involving plants, warehouses, equipment and inventory) that render planning and disaster recovery top of mind for business leaders.
The pace of change and resultant uncertainty have created a set of transformational imperatives:
- Build resilience: Ensure business continuity across all operations, and execute strategic plans with a highly engaged workforce.
- Enable agility: Have the capacity to pivot business models across customers, products, operations and the supply base.
- Scale transformation at speed: Enable rapid commercialization and monetization of innovative offerings tailored to fast-changing customer needs. This is a principal requirement, as enterprises can no longer remain in pilot mode with new initiatives built on the latest technologies. Instead, they must choose wisely to quickly achieve financial benefits that can then be scaled across the organization.
Onwards, manufacturing organizations will require a total strategic reset to scale business technology change to the needs of a modern enterprise. This whitepaper offers a structure and operational roadmap to carry manufacturers through the recovery and beyond.