Originally Published in IndustryToday: February 11, 2020
The rise of new digital industrial technology (Industry 4.0) and today’s 24/7 global economy are driving manufacturers to take a new approach with daily operations. Likewise, manufacturing complexity continues to grow as technology revolutionizes the way companies create and deliver products, whether for consumer-packaged goods, process manufacturers or original equipment manufacturers.
And, while manufacturers continue to see robust profit margins, future economic conditions and international trade agreements could have a serious impact on their bottom lines.
Such considerations are largely outside any manufacturers’ control, and should not cause alarm, but are worth preparing for all the same. This means not only developing best-in-class products for consumers and businesses, but also optimizing internal operations and partner relationships through a recovery audit program as well.