Achieving competitive advantage in a changing global marketplace.
Oxford Economics, a global forecasting and quantitative analysis firm, surveyed 300 manufacturing executives worldwide about the impact of industry shifts and organizational priorities on the future of competitive advantage. To meet anticipated future challenges, 68% of those executives said they expect their firms will undergo significant business process transformation in the next three years.
The path to true competitive advantage in the modern manufacturing era requires a rethinking of nearly everything - from how products are conceived, designed, sourced, and serviced, to the underlying business models manufacturers employ. Causing the need for this strategic realignment is a set of market forces, which are now converging to accelerate the manufacturing industry’s trajectory toward the “tipping point” of a fundamental transformation.
Forces of Transformation
We’re at the early stages of this fundamental transformation, marking what could be one of the most significant disruptions to the manufacturing industry since the Industrial Revolution. Understanding the driving forces, their specific impact, and the opportunities they create, reveals the roots of manufacturing transformation and the future of competitive advantage.
PTC has identified the key Forces of Transformation, some of which are long-standing while others are more recent. Individually, any one of these forces is disruptive. Together they are completely transformational.
Visionary manufacturing firms have already identified the forces that will have the greatest impact on their industries, and they are beginning to transform business processes to leverage one or many of them, and embrace entirely new business models to capitalize on the opportunity.