Insights & Impact
Many manufacturers struggle with accessing their customer and operational data and spend a great deal of time and effort developing or improving processes aimed at getting data to the right people at the right time.
We see it all the time in the news: whether it is the Dow Jones Industrial Average, the unemployment rate, new jobs created, year-over-year same store sales, or quarterly profits. We are expected to make judgments and react based on one number or another. While creating drama regarding one metric might make good headlines, it is not a good way to monitor and manage a business.
Leading a business or a business unit has always been challenging, but it seems like it is doubly difficult right now. It often seems like the information overload occurring in all aspects of our lives is the root cause. However, that same information overload can actually make it easier to run your business.
December and January are usually when we see a lot of people write about the trends of the past year or the trends to watch for in the new year. While those articles are often entertaining and sometimes useful, there is a better way to follow trends. Spot them yourself.
As the end of the year approaches, a lot of business leaders scramble to assemble the information they need to assess their department or company’s performance. It may be too late to eliminate the year-end rush, but there are ways to simplify the year-end review to reduce complexity and improve clarity.
Along with IoT (Internet of Things) and “big data.” another term that gets a lot of attention today is “smart manufacturing.” Often linked to the use of IoT devices and sensors in manufacturing, smart manufacturing is much more than a single technology or group of technologies.