The future of a business can be met with scowl and a feeling of uncertainty. Or it might be met with excitement and anticipation. Even if your business manufactures crystal balls and Ouija boards, no one could have predicted the explosive popularity of 3D printing, let alone its impact years from now in manufacturing and distribution.
The manufacturing sector is changing and adapting—and with it are opportunities and challenges. Neither business leaders nor policy makers can depend on dated tools and false predictions when technology moves faster and faster in a new environment. Your company's value and the technology you use must match or exceed the speed that your customers expect.
History repeats itself. We are undergoing a technology revolution of our own. We see the development of new technologies like 3D printing, new foreign competitors, and increasing concerns about supply chain and working capital. The future may not be as certain as a childhood board game; however, there are ways to push the planchette and in a way predict your business's future.
Valkre has worked with industrial businesses to overcome these issues. We have seen Fortune 500 companies lose market share in mature markets and helped them to create targeted growth strategies based on customer value. These efforts have identified opportunities for greater investment in new technologies, greater service offerings, and training.
A strong Value Proposition comes from the unique ways a company serves their customers: create a economically rigorous plan with an outcome that is practical, easily communicated, and updated internally. New technologies are not just good for increasing production and efficiency within your business but can change your business perspective to be forward thinking. As our friends at GE have been describing as the Industrial Internet, hardware and increasingly software are the future in this market.
Manufacturing is entering a dynamic new phase where technology is playing increasingly larger roles. Each role contributes to a business' Value Proposition. Manufacturers will have substantial new opportunities to stay competitive with advances in new technologies. Your Value Proposition will be advancing and evolving with the technologies you use for your customers. Constant improvement in your value to customers will not only show your development but also highlight the benefit for your customers. Creating that kind of visibility is a great way to predict and dictate the future.
Your Value Proposition is not a static object; it is always a good time to change it for the better. New technologies can enhance your company's value to customers. Those innovations should have the objective of helping your customers grow. Doing so will help increase customer engagement in ways that will sustain your competitive advantage.