Top Performing Firms Focus on a Well-Aligned Manufacturing Strategy
November 12, 2013
The manufacturing sector has emerged from the recent economic crisis stronger in many ways, consulting firm Accenture contends in a report on the strategies of successful companies. But it is by no means exempt from challenges. Russ Rasmus, managing director for the firm's manufacturing practice, warned that in an era of "permanent volatility," manufacturers cannot let themselves get stuck in old patterns of inflexibility and slow response to customer demands. In a survey of executives from 81 large U.S. manufacturers with global operations, Accenture found that developing a dynamic manufacturing strategy is the top priority at successful firms. Researchers identified a group of companies it dubbed "recovery leaders" based on their superior performance, and found that their strategies are driven by four primary factors:
- "Insight to action," employing analytics to give decision-makers greater intelligence and operational insight;
- "Adaptable structures," allowing flexible operating models that can quickly adjust to changing market conditions;
- "Flexible innovation," focusing on growth through new business models and better differentiation;
- "Agile execution," developing organizational capabilities to respond faster and more effectively to customer expectations.