How To Achieve ROI In Digital Transformation

By February 16, 2024 blog No Comments

In the ever-evolving landscape of contemporary industries, organizations encounter formidable challenges in their quest for a substantial return on investment (ROI) amid the intricate process of digital transformation. The complexities inherent in product development, manufacturing, supply chain management and outbound logistics pose significant hurdles.

This article delves into the current intricacies organizations face in these critical areas and examines how companies can adeptly navigate the digital realm by deploying well-defined digital threads.

Through the integration of essential components such as product life cycle management (PLM), enterprise resource planning (ERP), manufacturing execution systems (MES) and other enterprise business systems (coupled with the strategic use of cutting-edge technologies and low-code solutions), they catalyze transformative success stories. This transformative journey unfolds particularly prominently in the automotive, aerospace, manufacturing and medical devices industries.

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Embarking on a transformative digital thread journey from conception to delivery requires organizations to take specific internal measures. Initiating a thorough assessment of current personnel, processes, policies, guidelines and organizational structure is crucial. Aligning these elements with the goals of digital transformation lays a strong foundation.

Ensuring the successful implementation and deployment of a digital thread strategy requires careful consideration. Organizations should start by fostering a comprehensive understanding of the technology’s intricacies. It’s essential to train and upskill personnel to effectively leverage PLM, ERP, MES and other integral systems.

Throughout this process, organizations may encounter challenges such as resistance to change, integration complexities and data security concerns. To overcome these hurdles, proactive communication about the benefits of digital transformation is vital. Additionally, establishing a change management framework and creating a culture that embraces innovation can help mitigate resistance.

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Let’s explore how specific elements contribute to the journey toward increased ROI:

1. Product Development Excellence: Begin by centralizing collaboration, data management and version control using PLM. This lays the groundwork for accelerated innovation and a reduction in time-to-market.

2. Manufacturing Optimization: Integrate MES to optimize processes, providing real-time visibility for better decision-making, resource utilization and quality control. This enhances operational efficiency and reduces production costs.

3. Supply Chain Integration: Incorporate ERP into the digital thread for a seamless connection between supply chain processes and other business functions. This promotes transparency and informed decision-making across the supply chain.

4. Outbound Logistics Streamlining: Address challenges in outbound logistics by leveraging cloud solutions, enabling real-time tracking and optimizing the entire logistics chain. This results in improved delivery timelines, reduced errors and enhanced customer satisfaction.

5. Innovation With Low-Code Solutions: Embrace low-code platforms to foster rapid innovation without compromising quality. The flexibility of low-code development allows for quick adaptation to changing business needs, promoting a culture of continuous improvement.

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Organizations can pave the way for a successful digital transformation journey and ultimately increase their ROI by undertaking these steps and addressing potential challenges head-on. Energy company Siemens India invested in these solutions and has realized a 20% productivity gain.

By seamlessly weaving together ERP, PLM and MES systems as well as leveraging low-code platform solutions, organizations can navigate the complexities of the digital landscape and realize significant ROI. Strategic integration has transformative power and offers the potential for success in the automotive, aerospace, manufacturing and medical devices industries.

In the context of the Industrial Revolution, applying technology to operating mechanisms in each organization is extremely necessary, and is also an inevitable trend to minimize workload while still ensuring efficiency and enhance its competitive position in the market. Furthermore, applying management software into a business will also help build an organization with a clear system, promoting consistency, transparency and accuracy. Tasken eOffice, researched and built by Opus Solution – a business consultant in Vietnam – is an internal work management system as well as the management of automated, online, user-friendly approval processes, allowing businesses to operate more effectively on the path of digital transformation.

Forbes

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