Digital transformation in Manufacturing – Manufacturing Will Never Be the Same Again!
Over the past year, the one constant has been changed — faster than ever, sooner than imagined – bringing enormous challenges but also wonderful opportunities. While the human tragedy is evident, the epidemic also presented a testing environment that no simulation could match, pushing businesses to ask themselves, “How resilient is your manufacturing and supply chain?”
The Answer being Unanimous: ‘NOT VERY’
Almost everyone in manufacturing agreed that the pandemic had a long-term impact on their organization (95 percent), expressed concerns about their present supply networks (94 percent), and responded by boosting investments in digital transformation (91 percent). They admit that the manufacturing business will never be the same as it was before the pandemic, but they aim for speedier, greener, and more resilient supply chains in the future.
Manufacturing Will Never Be the Same Again!
In a society divided in so many ways, almost everyone can agree on one thing: the way we manage supply chains and make commodities has been irreversibly altered. The intersection of megatrends such as the need for more agility to withstand disruption, a push toward outsourcing, and a shift to remote work has allowed executives to reimagine what is possible.
The data revealed a common requirement for speed, quality, security, sustainability, and resilience. Last year, 81 percent of respondents reported cost overruns due to quality difficulties. More than half (55 percent) are concerned about IT security in their present supplier chain. Others bemoaned the difficulty of recruiting and onboarding new vendors, administering quality control programs, or dealing with delayed feedbacks with manufacturing partners, all of which increases time to market.
Whatever the problem, it is obvious that the previous manner of doing things is no longer optimal. The silver lining is that the pandemic compelled a widespread work-from-home phenomena, which has hastened the acceptance of and comfort level with outsourced manufacturing using new digital tools and platforms.
Accelerated Digital Transformation in Manufacturing
Though it is not a new buzzword, digital transformation has taken on a whole new meaning in the last year. Transforming manufacturing and supply chain operations is no longer a “nice to have” or a “someday” project. According to this year’s research, digital transformation has become a business need.
Among the 91 percent of survey respondents who stated they have raised their investment in digital transformation, 77 percent said it was considerable or dramatic. In the future, 95 percent believe that digital transformation of manufacturing is critical to their company’s success.
While the best time to future-proof your business was 12 months ago – or 12 years ago – those who have not begun the process must accelerate now to ensure greater resilience and preparedness for the next major disruption (such as having your critical parts onboard a container ship stuck in the Suez Canal!).
Supply Chain Disruption – The Upcoming Transformation
As the Ever Given reminded us, many manufacturers are just one unexpected occurrence away from having their supply chain disrupted. And, with the global semiconductor shortage wreaking havoc on automotive and other industrial processes throughout the world, the supply chains that power our interconnected world appear more unstable than ever.
However, the effects of these disruptions go beyond simply lost revenue or higher pricing. Leaky or inefficient supply networks can have a significant detrimental impact on innovation. In fact, 92 percent of study respondents claimed their supply chain is a barrier to new product innovation. Internal policies that consume too much of employees’ time (97 percent), trouble attracting the proper personnel (45 percent), and IP protection threats are among the reasons given (42 percent).
With so much volatility and disruption, it might be difficult to quickly prototype and push the boundaries of what is feasible.
Future-proof Manufacturing Digital Transformation
Fortunately, there is a path ahead for major manufacturers seeking to avoid future upheaval and increase market dominance. A large proportion of respondents claimed they have used on-demand manufacturing solutions as part of their digital transformation initiatives to outsource the flexibility, speed, and scale required to innovate and expand.
A resounding 100 percent of the 84 percent of participating organizations that stated they’d employed an on-demand manufacturing platform indicated they’d benefited from them. They specifically mentioned improvements in quality (62%), transparency (61%), and quickness (61%). . You may sleep well knowing that you can route manufacturing capacity around disruptions to receive the parts or completed items you need when you need them when you can digitally tap into a pre-vetted network of global suppliers.
The data from this year’s research show that change has already arrived in the manufacturing business. It is also clear that digital transformation has become a primary business strategy for those organizations and industries vying to prosper in the “new normal.” Now is the moment to increase these efforts to ensure a truly future-proof supply chain.
ServiceNow Impact on Digital Transformation in Manufacturing
ServiceNow provides a single-unified service platform for activities related to the value chain to meet the rising customer expectations at scale with world class experience. It gives an edge to manufacturers to rise above industry standards.
ServiceNow offers a unified platform that manages the complete business operation by offering end-to-end connectivity and management. This improves both the customer and supplier relationships in terms of information sharing and real-time access to crucial data. It increases customer interaction, which generates a direct feedback loop, ensuring speedy resolution of essential business concerns and waste reduction. ServiceNow also offers in-depth research to assure growth and efficiency at every stage, identifying new revenue sources and increasing customer happiness. As a result, you can provide service that builds client loyalty and satisfies escalating customer demands on a large scale.
ServiceNow offers a data-driven approach to analyzing a complicated supply chain, which is critical for predicting disruption. It aids in risk reduction and increases supply chain efficiency. Manufacturers may reap the full benefits of digital transformation by implementing a unified system of action with ServiceNow.
ServiceNow offers a more intelligent workflow: The omni-channel platform digitizes the entire value chain by offering customers a world-class experience. Real-time monitoring of business modules aids in the detection of possible bottlenecks before they arise, allowing manufacturers to take corrective action. ServiceNow offers digital enterprise solutions to suit the growing demands of consumers, dealers, and distributors.
Know more for ServiceNow Digital transformation in Manufacturing at https://dxsherpa.com/servicenow-for-manufacturing-industries/