Globalization and digital disruption are changing the course of industrial manufacturing. Disruption and volatility in the supply chain are the “new normal” and necessitate navigation in this time of uncertainty. Companies require quick adaptation and demand innovation to address evolving risks and keep a step ahead of the competition from planning and sourcing to production and distribution. And as the pace of innovation accelerates, constant reinvention is the new normal. To better serve more demanding customers while optimizing an increasingly complex value chain, you need to embrace new business models such as product-as-a-service and leverage game-changing technologies such as IoT, machine learning, and artificial intelligence.
Traditionally, the supply chain was a linear string of processes: design, plan, source, build, deliver, et cetera. But in our new digital world, such an approach is no longer practical—or necessary. The supply chain is becoming increasingly interconnected—more fluid, more organic, and much less rigid.