We believe what it takes to be successful today looks very different than it has in the past
a ‘TYPICAL” MANUFACTURER:
Long, positive history with a few core customers
Good to very good in manufacturing
Heavily dependent on 1-2 key customers/programs (both sales and profit)
Limited internal technology/engineering talent
Most of the organizational knowledge is tribal (reliance on a few “key players”)
HR viewed as admin vs. strategic function
BUSINESS REALITY IN 2020:
Speed of change is increasing exponentially. Companies can find themselves in trouble before they know it.
Long-standing customer relationships are at risk due to turmoil within the customer, industry consolidation and new competitive threats.
Risk of technological disruption to both products and manufacturing processes.
Shortage of technical talent. Significant portion of talent has either already retired, or will be retiring within next 10 years.