From the Office of the CEO
March 22, 2020
#COVID-19 enforces urgency to transform business thinking across value chain; no more business as usual.
A tiny invisible microbe called the novel Corona, is forcing a change in the world order, affecting global economics, political and most importantly human behavioral patterns.
Ambiguity is all pervasive. And this, in so many ways is helping us wake up to a new reality, pushing us to ponder over ways to combat such unforeseen forces of nature, forcing a major lockdown, bearing heavy on the economy and the way we work.
A fantasy, albeit a fleeting one, that is striking the CXOs now, is only if the work infrastructure were automated, connected, traceable and modifiable in real time. An organization would have triggered consistent manufacturing output by robots and machines, or, modified the input/output variables to change the product line responding to current needs, only if on a push of a key one could strategically direct one’s supply chain to reflect inventory led distribution, and only if the workforce could converge strategically to execute this all, remotely and in real time.
These scenarios and perhaps endless such iterations could be made possible today through adoption of the 4th Industrial revolution, monikered as ‘Industry 4.0’. The world order demands not just embracing it, but swiftly executing such a smart world, where data is the new oil and its application your true north star.
However, there is a caveat. If done in a hurry, without cognizance of where we stand and where we want to be, the execution often meets with ineffective gaps, slowing the rate of adoption at futile costs. Consequentially this affects market competencies and ultimately the bottom-line sustenance.
The way to circumvent this caveat is by creating a clear line of vision execution with a roadmap, based on rigorous contextualized data that helps to score an ‘As-is’ assessment of benchmarks, capabilities, thus setting KPIs that are measurable and traceable. The efficacy thus brought in, expresses itself in process optimization as well as innovation through Design Thinking, paving its way for more integrated value chain, data and design led execution and an e-marketplace where cost centers are moving to profit centers. All it requires, is an urgent intent to start the process of Industry 4.0 adoption with awareness.