Since 2016, plans have been in place for transformation to happen.
But the question always comes about, how much can be done and how much upfront cash is needed and will the money be justified?
The pain points for a lot of SMES are lack of good fit manpower for the leadership management and a lack of sufficient manpower for the operations side; visibility of demand and supply - feedback online how do you pull all the info back to the planning side upstream and downstream (industry 4.0 autonomous robots, system integration, internet of things, simulation, addictive manufacturing. cloud computering, augmented reality, big data, cyber security) - how to embed the technology into the process to reduce wastage(Eg. reduce buffering hence overstock and eventually no longer have to sell at lower cost to reduce inventory) and hence can help reduce the cost) - example having big data using AI, allowing for prediction
PROCESS
TECHNOLOGY
ORGANISATION
Singapore Smart Industry Readiness Index - what level of digitalization one has to achieve
Find out your priorities - understanding your company confidence [ ORGANISATION]
Vertical and Horizontal processes - Can they be enhanced or eliminated [PROCESS]
hard -production lines, services - automate processes [TECHNOLOGY]
Upgrade value chain - better margins - where production becomes the least cost and one can focus on branding more - less reliance on supply chain - blockchain and 5G- To track and trace etc
Value Add Service:
PRODUCT SALES - > SOLUTION SALES -> CONSULTATIONS-> EDUCATION(BEST PRACTICES)
IMPROVE PROCESSES ; MARKETING; ENGAGEMENT [ Outsource to freelancers ]
How to ensure data and assets are integrated into the processes- so you know where are the wastage or areas of improvements)
Portal Business that can support local and regional markets
Embedding latest technology so customer can be educated and have seamless solutions
HOW CAN YOU INNOVATE? HOW CAN YOU VALUE ADD?
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