Companies can overcome some of the uncertainty they face in product cost estimation with a practice called “should cost” — and deliver smarter design, strategic sourcing and faster time to market.
With the coronavirus pandemic and its lingering effects, companies have now experienced how challenging it can be to plan and maneuver their supply chains around uniquely disruptive, once-in-a-lifetime events. But the unfortunate truth is that less severe events overwhelm or undermine supply planning all the time. Legacy tools are no longer up to the task of getting supply where it is needed most.
It might be tempting for businesses to use their procurement or market power to position themselves to survive the pandemic. However, new and uncertain economic realities will mean the old notions of power and market strategy won’t work.
Countless barriers can stand in the way of a successful new-product launch. Brands and manufacturers must establish strategic procedures for product development — before developing the product itself.
Companies are adopting innovative service-based models to better focus on customer relations and lifetime value. This change requires them to enhance capabilities in customer centricity, data and technology.
Intel Corp.’s new Chief Executive Officer Pat Gelsinger wants the company to regain its former glory as the world’s leading chip manufacturer, and he says it’s a strategic priority for the U.S.