Over the past ten years, the manufacturing and supply chain landscape has grown more difficult, as has been widely reported. Major disruptions have been caused by port congestion, spillover effects from geopolitical conflicts, and freight transportation issues.
Businesses in all sectors are under increasing pressure to cut expenses, raise service standards, maximize working capital, and come up with quick fixes. Supply chains now frequently need to be adjusted by businesses in a matter of hours or days as opposed to weeks.
Successful businesses are utilizing Industry 4.0 technologies and going through digital transformations that prioritize agility, customer centricity, sustainability, speed to market, and customer satisfaction in order to deal with these upheavals and prosper in this unstable environment.
However, these changes are inherently challenging and frequently end in failure, costing companies money and time and increasing the likelihood that they will lag behind their rivals.
Nonetheless, an alternative narrative of transformation is feasible, as prosperous enterprise-wide platform transformations (EPTs) are transpiring in various industry domains, encompassing life sciences, heavy industries, and consumer packaged goods (CPG).
One fundamental characteristic of these prosperous businesses is their dedication to a comprehensive transformation strategy, in which the needs of business stakeholders are given equal weight with technology and the latter is used to create real, long-lasting effects.
