Manufacturing and Supply Chain Expert Lisa Anderson, MBA, CSCP, CLTD, President of LMA Consulting Group Inc., predicts that manufacturing will be a top economic force in 2019. Key to the success will be creating a resilient supply chain.
LMA Consulting Group works with clients on manufacturing strategy and end-to-end supply chain transformation that maximises the customer experience and enables profitable, scalable, dramatic business growth. The firm also conducts research to help clients predict future trends and embrace key priorities to succeed.
"Economic volatility and uncertainty are the new normal. Instead of lamenting, clients should take advantage of the opportunity. There has never been a better time to stand out from the crowd with a superior customer experience amidst the chaos," she commented.
"Not only has the Amazon Effect driven customers to expect customised product and service offerings with rapid response, creating a greater demand for local manufacturing, it has also made innovation a cultural norm. Drones, robotics, IoT, artificial intelligence, big data predictive analytics and additive manufacturing are transforming entire industries while providing the tools to create a customer-centric, resilient supply chain.” LMA predicts that creating a resilient supply chain that navigates disruptions and provides a superior customer experience will be key to achieving peak performance.
Based on client engagements and research, LMA has identified five areas that manufacturers must address to be successful in 2019. It starts with superior customer service, and continues by taking a holistic, full circle view of the business. Understanding and preparing for volatility as the new normal will become foundational, whereas leveraging the collective power of the end-to-end supply chain and manufacturing capabilities will emerge as a critical priority, culminating in the need to create a resilient supply chain to be agile in these tumultuous yet exciting times that are ripe with opportunity.
"Manufacturing is on the forefront of breakthroughs every day. From making the latest medication to cure cancer to customising an engine part that will transform space exploration, manufacturing is uniquely positioned to have a lasting impact on our economy and our lives. For those who embrace the opportunity, the rewards will be tremendous," she concluded.