Fed Manager: Conditions for downsizing support purchases "largely met"

Charlie Taylor

Published: 31 May 2022, 14:09 Updated: 12 July 2022, 09:29The manufacturing industry has large differences in terms of degree of digitization, shows a new report that reveals what characterizes the winners post-covid. "Sees a clear gap". The pandemic has forced nine out of ten manufacturing companies to radically change and develop a new strategy for success in the future. A new study conducted by Salesforce globally among 750 decision-makers shows major differences in technology development and digitization. Some succeed better than others. The companies that consider themselves to have come the furthest have in common that they invest in increased service provision, move businesses to the cloud and adopt new ways of interacting with their customers. Download Trends in Manufacturing Those who lag behind risk falling helplessly behind when societies gradually reopen, experts warn. – We see a clear gap between the manufacturing companies that have secured their operations in the future and those who still struggle to deal with turbulent markets and rapidly changing expectations employees, partners and customers. More manufacturing companies should be inspired by successful tech companies in areas such as moving to the cloud, increasing automation and creating digital customer experiences. All of this increases the chances of succeeding post-covid, says Cindy Bolt, head of industrial companies at Salesforce.The report clearly shows that the changes brought about by the pandemic are here to stay. This applies above all to sales and customer service, according to almost six out of ten respondents. Many point out that the ability to make accurate forecasts in fast-moving markets is hindered by a lack of transparency and limited access to data, but also by silo thinking. As many as eight out of ten believe that it is difficult to extract the data you would really benefit from outdated legacy systems.

Better forecasts

According to nine out of ten respondents, the single most important priorities for the next two years are increased process efficiency and improved demand forecasts with the help of digital tools. Over half of see migration of planning processes to the cloud as a critical success factor. The managers who claim to be "very well prepared" for the future have already moved to the cloud. Increased service provision to diversify and secure their revenues from several sources is the strategy that the majority (86%) of the companies that see themselves as future-proof are investing in. It is about packaging product, support, software and ancillary services in a common offer and a new business model. The digital divide of today goes between manufacturing companies that consider themselves ready for the future and those that are not. Those who consider themselves to be better equipped have systems and technology in place to handle in the coming years, states Salesforce's Sweden manager Dan Bjurman: in some cases even succeeded better than before. The use of customer data in the decision-making process as well as digital tools for managing customer contact and the staff working at home has had a clear positive effect and highlights how important it is to have a modern, digitalized business that makes decisions based on data, and that it is incredibly important to be flexible and customizable. Take a look at Salesforce's latest report Trends in Manufacturing or read more about Manufacturing Cloud here. If you are interested in more in Salesforce Manufacturing, visit: IDC Report: Benefits of a Collaborative S&OP Process Future of the Manufacturing Industry Customer 360 Playbook for Manufacturers

Click to rate this post!
[Total: 0 Average: 0]
Next Post

Felipe Neto reveals that he invested 'heavy' in Bitcoin and recommends three cryptocurrencies

Youtuber Felipe Neto entered the cryptocurrency market once and for all and revealed this Friday (27) that he has large reserves of Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB). “These I invested heavily when the brutal fall came and the margin of appreciation went to the stratosphere already. But […]
Felipe Neto reveals that he invested 'heavy' in Bitcoin and recommends three cryptocurrencies

Subscribe US Now