Manufacturing companies have traditionally been slow to react to the advent of digital technologies and their related impact across the manufacturing value chain and operating model.
Once an agenda has been firmed up, manufacturers should gain a good understanding of the latest digital applications in the market across the manufacturing value chain.
The connected nature of digital technologies enables the usage of techniques such as open innovation, cocreation and crowd-sourcing. They can be useful for generating ideas towards innovative solutions, accelerating product development and addressing the rapidly changing market conditions.
Online marketing, social media and e-commerce allow new possibilities for manufacturers to connect and address global customers and offer localized products and services. For manufacturers that have significant presence in direct consumer channels virtual digital campaigns help them address and customize their message to global consumers at effective cost by using targeted marketing.