In this competitive world, companies look at redesigning their production processes and activities to stand up to the competitiveness that the markets demand. To add value through every process is key to the success of each organisation. Value stream mapping (VSM) is a powerful tool in lean implementation to streamline processes and achieve that highest level of productivity in the industry.
The supply chain business typically has wafer-thin margins and hardly any room for expensive
errors. Over time and with ample data, industry players can create digital twins and immersive
experiences that deliver a bird’s-eye view of the entire supply chain.
This digital revolution and its groundbreaking effects on production and manufacturing have transformed supply chains across businesses and industries. Industry 4.0 has not only transformed the structure of supply chains, but it has also changed the way we view supply chains. Industry experts and market analysts have been observing a dramatic shift away from traditional sequential strategy hierarchies.
Easy access to information has also increased the vulnerability of sensitive information. In 2020 alone, the number of data breaches in the United States came in at a total of 1001 cases, affecting 155.8 million individuals. However, cybersecurity is just one aspect of the broader, more complex issue of supply chain security.
Hyperautomation is the result of combining process automation with Industry 4.0 technologies. Hyperautomation augments various components of process automation with advanced technologies like robotics, machine learning, and artificial intelligence to automate processes in ways that are more effective and far exceed the capabilities of traditional process automation
A prime example of rapid and relentless evolution is supply chain management (SCM). New technologies and innovations have significantly boosted its capabilities, and SCM is now able to deliver a lot more than what was thought possible a few years back. Here is a look at some of the exciting new developments in the world of SCM.
They may be fictitious characters, but they can fundamentally alter the way you run your business.
Personas are imaginary users that you can create to understand real customer needs, behaviors, and
expectations. When done properly, personas can unlock powerful learnings, help you optimize the
supply chain, or give you a significant edge over competition.
Empathy. That is often the secret to making a successful sale. It goes well beyond merely googling for your potential customer and reading some of the top results that show up, or trawling through their LinkedIn and Facebook pages. It also includes putting yourself in your customer’s shoes and seeing the world through their eyes.
Go to any major auto show, and you are likely to be wowed by the futuristic ideas and cutting-edge technologies embedded in various vehicles. Some of the concept vehicles and transpiration systems on display may even look like something straight out of a science fiction flick. These solutions may look slick, but an important question soon pops up — can everyone use them? How inclusive are they?
Local problems often need local solutions. And for that, you invariably need local expertise. In a paper titled Design Thinking for Social Innovation, authors Tim Brown and Jocelyn Wyatt argue that design thinking is best delivered by spending time with users or citizens in their own environments, rather than working on a project abstractly in another space.
