As organizations and teams look for a new "normal" for employees, customers, and partners, there is much to consider and many changes to incorporate. The urgency for digital transformation has accelerated even more than before. In fact, many industry-leading manufacturers who have adopted a strategic "Industry 4.0" approach have recorded tremendous benefits, including 30-50% reductions of machine downtime, 15-30% improvements in labor productivity, 10-30% increases in throughput, and 10-20% decreases in the cost of quality. In addition to the direct impact to the cost of production there is a more intangible cost that impacts the value chain: increased flexibility to meet customer demand, faster speed to market, and better integration within the supply chain.
Based on industry, technical maturity, and competitive landscape, each company and team will need to map and accommodate for changes that apply to their point on the spectrum however, the ability to adopt a better way to address (and excel) in the new "normal" does exist. McKinsey research shows that "most of customers' main concerns about COVID-19 are related to health and safety, so companies must keep these issues front of mind as they plan their transitions to the next normal. Such concerns have led customers to rapidly change how they want to engage with the world, with safe and contactless operations a top priority." For companies who can and have adapted to change are demonstrating their understanding of what matters to their customers.