Manufacturing is littered with buzzwords at the moment, the promise seemingly outweighed by the hype.
Manufacturing is littered with buzzwords at the moment, the promise seemingly outweighed by the hype.
At the end of last year, The Australian Industry Group (The Ai Group), released their annual business strategy report.
The Australian manufacturing industry is changing rapidly. It has to contend with the tides of globalisation, rapidly developing technology and increasingly sophisticated customers who are demanding more bang for their buck. Manufacturers need to find the sweet spot, walking a fine line between keeping costs lean and allowing for flexibility. Otherwise, the consequences can be dire.
A decade or so ago, there was a popular game show called The Weakest Link. At the end of each round the host of the show would acerbically remark to the contestant with the lowest score: ‘You are the Weakest Link. Goodbye.’
In all businesses, it is important to strategically change and adapt with technology. What at first will delight your customers will soon become the baseline expectation.
The Australian manufacturing industry is in a state of flux. We are competing with countries that can offer consumers more value for less money. So it’s understandable that a knee-jerk reaction might be to simply slash costs across the board.
A successful BI project is a mountain to climb for even the most experienced managers. Many can attempt the climb, yet few get to see the view from the summit in their lifetime. In fact so few succeed that. SAP BW Consulting reports that more than 70% of businesses worldwide fail to see results from their business intelligence projects.
It seems that a new technology fad is entering the market every week. No industry is immune to it, but in technology and manufacturing spheres, the novelty and excitement quickly give way to fatigue, disappointment and cynicism when the technology that has promised so much delivers so little.
The mantra ‘do more with less’ is to the noughties what ‘greed is good’ was to the eighties. Departments in every industry are constantly being asked to refine their processes in order to maximise output and reduce variability.
The future has arrive! It feels as though you can’t watch or read anything in the technological sphere without this near-hysterical phrase being uttered. And if not uttered, then implied.
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