Business Strategy: Digitization Trends in Asset-Oriented Value Chains in Asia/Pacific (Excluding Japan)
Asset-oriented value chain (AOVC) manufacturers in Asia/Pacific excluding Japan are facing multiple challenges because of raw material volatility, increased competition, high operating costs, low equipment utilization, supply chain challenges, and highly seasonal market demand. IDC believes that the aforementioned challenges are driving organizations toward adopting digital manufacturing initiatives to bring about increased overall equipment efficiencies and operational excellence in organizations. Robust inventory policies and adaptive supply chains are something that organizations are increasingly looking to implement. To compete in a highly fragmented and crowded market, organizations are expected to bring about process-related changes that will help AOVC companies to stay both ahead and innovative. "To remain profitable and achieve manufacturing excellence, companies need to evolve and work on a plan that can seamlessly integrate their traditional technologies with the next wave of digital transformation tools. Going forward, AOVC organizations will be assessed on how well companies use overarching technologies to proactively diagnose production assets for reducing overall equipment downtime," says Sampath Kumar Venkataswamy, research manager, IDC Manufacturing Insights.
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