By Bill Remy, Brian Cromer
“Avoid Technology FOMO (Fear Of Missing Out)” is strategy #4 of Bill’s article, “Five Ways Manufacturers Can Bolster Agility” where they talk about thinking about manufacturing technologies in a more strategic way rather than the silver bullet for success.
Read the summary below or view the video above to discover challenges, benefits and a pragmatic approach for leveraging technology and data to propel productivity toward growth.
Bill steered the conversation towards understanding why organizations often fail at implementing technology successfully or show resistance to adopting new technologies. He questioned the underlying reasons for such barriers, indicating a broader interest in exploring both the psychological and operational hurdles companies face.
Brian responded by emphasizing resistance to change as a fundamental issue, often rooted in past failures of technology implementations. He argued that failure is typically a consequence of inadequate planning and preparation, rather than the technology itself. He advised that leaders must set clear objectives and ensure technology is correctly aligned with business needs.
Bill further inquired about data management challenges, acknowledging that improper data preparation can sabotage technology initiatives. Brian agreed, pointing out that the integrity of incoming data is crucial for deriving value from any technological solution. Companies with bad data coming in will get bad data coming out resulting in poor decision making. He warned that companies often expect technology alone to be the “silver bullet” to solve their problems, overlooking the significance of data quality and user engagement in achieving successful outcomes. The reality is that user and the data integrity are the critical elements to determine that the right technology solution is working effectively, and the value is realized.
The conversation shifted towards the benefits technology can offer manufacturers, with Brian highlighting speed and competitive advantage as key outcomes. He advocated for technology as a tool for rapid response to market changes and for gaining an edge over competitors. This requires a willingness to embrace change and a strategic approach to technology adoption. Brian recommended a gradual, phased approach to avoid the pitfalls of rushing into technology investments without a solid foundation. He stressed the importance of understanding operational requirements, ensuring data integrity, and establishing effective processes before proceeding with technology implementation. Both Brian and Bill agreed that there is common oversight of manufacturers in underestimating the importance of process optimization and data management prior to technology integration.
The videocast was wrapped up by Bill expressing appreciation for Brian’s insights and teasing upcoming discussions on supply chain risks and the value of Environmental, Social, and Governance (ESG) initiatives for businesses.
Tune in to Bill’s next discussion in the series around how to establish a more productive supply chain with Chip Barth, Managing Director of Global Supply Chain practice.
Check out the other episodes of Bill Remy’s “Five Ways Manufacturers Can Bolster Agility” video series.
Strategy #1: Labor Strategies Reimagined for a More Productive Workforce
Strategy #2: Level Up Productivity In Manufacturing
Strategy #3: Beware of Technology FOMO: Implementing Technology to Drive Productivity
Strategy #4: Supply Chain Risk and Mitigation Strategies in Manufacturing
Strategy #5: Find Hidden Opportunities in ESG – Coming soon
Don’t miss industry expert insights.
Join a community committed to excellence.
