US Manufacturers Turn to Enterprise Project Portfolio Management to Capitalize on Growth Opportunities
By Melissa Centurio Lopes on Apr 16, 2014
new white paper from Oracle, "Manufacturing Outlook: Improving Time
to Market, Operational Effectiveness, and Innovation in a Highly Competitive
Environment," explains that
there's good news and bad news for US manufacturers in the current economic
environment. On the plus side, manufacturing production is expected to grow by
2.4 percent in 2014 and 4.1 percent in 2015. The bad news? Many manufacturers
are still struggling to recover in the aftermath of the recession, when many
companies closed plants, reduced staff, and lost customers.
In the following interview, John Reichard, Oracle's director of discrete industry strategy, discusses how an updated business strategy and the right enterprise project portfolio management (EPPM) solution can help manufacturers capitalize on growth opportunities in today's volatile market.
Q: What current fundamentals make the US a strong manufacturing environment?
A: First, this country has a mature and extensive infrastructure in place, along with a strong workforce that is highly trained and skilled with the latest technology used in sophisticated manufacturing processes.
Q: What's the flipside? What challenges will manufacturers be facing in the months ahead?
A: One of the biggest is the ability to quickly bring the right products to market at the right time. If a manufacturer can't meet changing customer demands, customers will look to competitors. The challenge extends beyond satisfying current demand—manufacturers must continually replicate the product delivery process to keep sales momentum growing and create greater market share.