10 Takeaways: SAP’s Guide to Manufacturing Interconnectivity
Faced with widespread disruption, fluctuating trade policies, rising costs, shrinking talent pools, limited cash reserves and complex supply chains, it is safe to say that manufacturers like many others have had a particularly challenging 2020. “Firms scrambled to set up IT infrastructure to support remote working; demand for goods collapsed or supply dried up; logistics across borders became radically more complex, and millions of businesses were shuttered worldwide,” says SAP.
Who explains that organisations most successful in mitigating the impact of the events of 2020 were those that valued collaboration, cross-business insights, data-driven decision making, and agile processes and people.
“By marrying these traits, they became ‘interconnected businesses.’ In doing so, they are able to offer outstanding customer and employee experiences, build resilience, and navigate rapid market fluctuations – capabilities that are essential for the future. Interconnected businesses are also in a stronger position to seize new opportunities and pursue growth when the economy stabilises,” adds SAP.