Companies have been amassing data for years, yet the industry has finally reached the consensus that data for its own sake is not valuable. Now companies need to ask the critical question: Where’s the value?
Having stated his positions for enacting import tariffs and bringing manufacturing jobs back to America, our new President, Donald Trump, has his work cut out for him. I’ll refrain from making political commentary, but I can venture some predictions on what will come into focus for supply chain performance in 2017:
What comes first, the product or the demand? This question is the central dilemma of going to market. The likes of Apple and Dyson have built strong brands around their designs, using adjectives such as “magic” or “perfection” to describe their appeal. However, such religiosity around product design isn’t an option for companies working in markets that are more saturated or where products are commoditized.
The essence of what companies do should be simple. They produce goods or services and provide them to customers at a higher price than the costs required to make, sell, and distribute. However, this simple equation hides a mass of complicated challenges.