By: John Reichard, Oracle Primavera
Discrete Industry Strategy Director
Manufacturing is critical to the
global economy. It is driven by innovation and operational excellence, which
impacts the economy and international trade—all in a volatile and demanding
marketplace; A global marketplace which over the last few years has been
strained by economic, political and environmental stress. Economists describe the business climate as gradually
improving but still very sensitive to market conditions and customer demands.
Or is this really the new normal environment for businesses?
Manufacturers that survived the
difficult economy over the last few years, now face a more competitive
environment where they must do more with less to win. They will have to
optimize dwindling experienced resources, choose projects wisely for improved
financial results, and better manage risk to deliver on time in order to thrive.
How will you innovate, evolve and
compete to win in this new normal global marketplace?
One way for industries to compete is
to strike a balance between innovation and process improvement to better align
new product development to corporate strategy. This Innovation brings in new
streams of value while process improvement provides the back-end insurance that
the innovations achieved will continuously deliver competitive value. New
innovation will help increase revenue, market share while building customer
value. These are very important drivers to the discrete industries. We find
that new product introductions contribute significantly to business growth. Companies
that invest in development find it is not an optional extra but rather crucial
to business growth and profitability. Is innovation a high priority for your company?
stay competitive, many industrial manufacturing companies are focusing on
global efficiency through greater collaboration, and visibility across program
and projects worldwide. This transparency helps, in today’s complex product
design and manufacturing initiatives resulting in higher customer satisfaction
and profit margins. These metrics are vital
to measuring a company’s success in bringing the right products to market on
time. Cost overruns or late product
launches result in the loss of credibility and financially impact to the
bottom-line. How does your company ensure that you are designing, building and
delivering products as promised and avoiding costly delays when different
functional teams aren’t always in sync?
- Drive Innovation–Innovation is considered one of the
most critical drivers to a company’s competitiveness. How do you choose which programs or projects satisfy
customer demand, and improve market share with the required return on
- Manage Risk - Risk requires identification and
management to mitigate potential quality, warranty, legal and environmental issues.
Are you managing change successfully and
mitigating its effects?
- Understand Capacity–Do you have the right resources to
match the demand in the markets you plan to grow in?
Each of these questions can be
answered and objectives accomplished with the help of an enterprise project
portfolio management solution that can streamline operations, improve time to
market, increase agility, and provide visibility and transparency with all
If you would like to know more about how to: compete and win in the global marketplace, then I invite you to visit Oracle’s Primavera industrial manufacturing industry page
for more information.