Companies today face challenges and opportunities driven by product innovation, energy disruption, shifting economic alignments, changing customer expectations and new, cheaper technology. When regarded as opportunities, these changes can present a unique possibility for a company to emerge as a leader in their chosen business areas.
Versatile and unique product requirements are typical in today’s market. Increasing complexity in the finalised products challenges the optimisation of design and the ease of managing product information through company’s business processes: sales, design, production and after-market services. High focus on Supply Chain efficiency has resulted in more complicated processes, which has increased the complexity of managing product information in Production and Logistics. This is challenging product quality and delivery accuracy.
The arrival of smarter products, virtual reality (VR) and Internet of Things (IoT) provides huge development opportunities in the industry. When implemented and managed correctly, innovations like these support changes in productivity by allowing firms to more actively monitor and optimise asset and supply chain performance.
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