Industrial B2B sales have been going through a transformation in the past century, with user data rapidly moving online and expanding immensely in scope. When longer buying cycles on the buyer side are combined with advanced prospect targeting on the sales end, we can deduce this: buyers will expect more.
Until recently China has been tagged with economic recession factors such as regional disparities, an aging population, declining heavy-industrial sectors, bursting property bubbles, growth in debt levels, and considerable environmental issues. So how comes, it is now slightly ahead of its goal to double GDP between 2010 and 2020? President Xi's ambition to make China a “moderately prosperous country" is right on track and the country enters 2018 with robust economic-growth momentum. In this post, I want to retrace China's path to it's massive growth unlocked by a combination of several factors, one of which is the "Digital China" agenda.
"With Cloud CPQ Express, Manufacturing Sales is a Piece of Cake (Almost)"
We hear this often: over 90% of the world’s data was generated in the last two years. According to The Economist, 'Data are to this century what oil was to the last one: a driver of growth and change.' An IDC Paper talks about 163 zettabytes of data a year by 2025. Even in Industrial B2B sales, data has shown its impact.
The business world has changed remarkably over the last 20 years. From the times where there was a dominance of large corporations, to lean start-ups littering the landscape, to the current digitisation of business units; the world is dealing with unprecedented levels of competitiveness and upheaval.
The everchanging landscape of Industry 4.0 means that new phrases and terms appear more often than screws on a BOM. Besides the main terms like Cloud Computing, Interoperability or Machine Learning, new phrases such as ‘Servitization’, ‘Edge Computing’, and ‘Digital Twins’ have emerged recently, making it hard to keep up. We’ve collated them, and below, you’ll see the top 6 terms we think all manufacturers should understand.
…And January is over! This first month of 2018 consisted of forecasts and predictions for manufacturing in the years ahead, and while those are important for planning and data collection, never forget to stay up to date with news. For your ease and convenience, we’ve summarised four key pieces of news that we think will be pertinent for any manufacturer’s Industry 4.0 journey.
Let's talk about negotiations in manufacturing. Where there is tendering, there will always be negotiations and renegotiations of a variety of factors, from pricing to delivery timelines. In the contract manufacturing industry, where a single project lasts for at least a few years and products are manufactured in mass quantities, that negotiation process becomes crucial to ensuring margin retention over the contract lifespan .
When it comes to digital commerce readiness in Singapore, Manufacturing SMEs are at a crossroad. SMEs tend to focus only on managing their core business and their margins, so innovation and digital commerce will inevitably fall by the wayside. In the meantime, companies (and countries) that proactively include digitalisation in their plans will increase their lead over the others. This is especially true for companies where margins are slim, or that have complex configuration and calculations, like Engineer-to-order (ETO) and Make-to-order (MTO) industries.
The term Industry 4.0 (or Industrie 4.0, if you’re looking for the original), has been around since the Hannover Messe in 2011, but many manufacturers are still trying to wrap their minds around what it means for them. After all, hasn’t computing, programs, and automation been par for the course in production for years? How would this new wave of digitalisation differ?