Note: Running most Fridays in FromGregsHead.com, is a continuing series of tips brought to you by Greg Price. These run Saturday mornings during the BusinessMaker’s Radio Show on KPRC 950AM. Audio files can be found on the Entrepreneur’s Playbook page of the PKF Texas website.
Globalization, connectivity, regulation, and demographics are reshaping the landscape for manufacturers. In this new world of work, the ability to create, share, and act on information from a myriad of internal and external sources can help manufacturers compete more effectively and operate more efficiently amid rapid change and relentless pricing pressure.
People are the critical factor to success in this environment. Only people have the agility and resilience to identify and act on new information quickly to meet challenges or capitalize on new opportunities.
By surrounding people with powerful tools and the right culture, manufacturers can bring innovative new products to market more quickly and mobilize a network of suppliers in deeper, more collaborative relationships. Software amplifies the ability of people to more rapidly adapt to challenges. In addition, software enables employees to take advantage of opportunities more quickly, to better understand customers based on insights derived from both data and communications, and to build better partnerships because they have the ability to collaborate more readily.
Furthermore, empowered people can drive operational excellence by constantly improving products, streamlining practices, and sharing knowledge. And they can work responsively with customers to build high-value relationships to drive business growth if they have access to the software and solutions that empower people to take the manufacturing business further.