Over the past several years, industrial manufacturing has grown due to demand from emerging markets and low interest rates. However, the gradual changes the industry has experienced have given way to more volatile and negative markets. In 2015 the market saw a sharp reversal due to macro-economic factors like slowdown in global demand and price drops in several major commodities.
The industry is facing significant challenges and opportunities as new trends emerge:
- IT and Business are both suffering from ERP transformation fatigue. Business and process automation can help transcend ERP and deliver capabilities rapidly.
- User-centricity, Design Thinking, channel management, and user experience (UX)/CRP-driven feature development are critical to creating services and capabilities for greater impact.
- There is an influx of new products and business models such as the agile approach that ensures faster time-to-market and DevOps that helps to bridge gaps.
- Companies are struggling to leverage the Internet of Things (IoT) and connected systems to create intelligent product delivery chains.
How can companies overcome these headwinds and negative sentiment reflected in declining stock prices? The good news is that these emerging opportunities provides the promise of growth, and a positive new normal in a world that returns to historical consumption patterns.