As we enter the fifth week of California’s shelter-in-place program initiated by our state’s Governor, I have had much time to contemplate on how to best navigate the new era of history we are all now creating. Waking up and changing into jeans and a t-shirt before hosting my staff meetings is starting to seem normal. Another thought that is abundantly clear is to make the most of what we have and not to gamble on long shots – at least today. This philosophy is something I have taken to heart. It translates into a strategy today where you should “double down” on your existing technology and investments.
It doesn’t matter if you are running a household, a charity, or a business – in times of uncertainty, risk management is critical. In the best of times, it is usually best to be prudent with important decisions. In challenging times of disruptive events such as the coronavirus, it is paramount to avoid taking unnecessary risks at all costs. Life is difficult enough while just trying to maintain the status quo!
For example, if you are running a manufacturing organization serving the aviation industry, now might not be a good time to consider venturing into a brand-new product line. Buyers, in times of uncertainty, tend to stick with existing suppliers or providers. Relationships already exist. Each side has earned the trust of the other, so a set of expectations has already been established during regular business conditions. This way, as conditions change, the mutually decided upon new path is much easier to find agreement on.
iBASEt’s Dedicated Focus on Existing Customers
My expectation is that our customers feel the same way. The best use of their time is to explore how best to leverage greater functionality, value, and capabilities from the iBASEt solution that is already in place. By doubling down on what you already have, the learning curve is minimal, and the relationship already exists. Instead, your precious time can be focused on identifying new opportunities.
This was the rationale behind our launching Performance Plus, a program that I made available only to existing customers. We recognize times are tough, so we want to help. We are giving our customers up to 4 hours of our professional services time to work together and see what new performance or capability improvement might be possible with your existing technology investment.
Now might be a great time to better understand how your operations are performing. Or, it might be a good time to do a “deep dive” on inventory turns, quality performance, or operational analytics to gain new insights that could lead to a few extra points on your bottom line in the future. This crisis we are in the middle of right now will pass. When it does, the rush will be on to ramp up quickly and effectively while maintaining some sort of social distancing as part of the process.
New workflows might be needed, as well as the ability to operate remotely for the foreseeable future, in some instances. Most manufacturers already have some sort of operations management and analytics systems/technologies already installed – now could be the right time to double down and see what else can be done with this existing investment, including how operations can be managed to perform better by a skeleton staff.
Have you already embraced a “double down” strategy on your existing IT or OT infrastructure? Do you have a couple of “aces in the hole,” so think now is the time to leverage what you have already? If so, please share your stories!
As we all struggle to navigate the best path forward, one thing continues to resonate strongly. The common enemy right now has shifted to a virus that is causing a huge disruption across the world. Together, we can find a new course, and in the end, be better adapted to handle future disruptions as they will undoubtedly unfold.
- iBASEt is Building on Lessons Learned in 2020 - March 4, 2021
- Manufacturing Trends: Five 2021 Predictions - December 17, 2020
- Excelerate Innovation 2020: The Power of Listening - November 18, 2020
- Manufacturers Need to Rethink Digital Transformation - September 18, 2020
- Technology’s Role in Shifting Manufacturing Back to Industrialized Nations - July 14, 2020
- Will COVID-19 be the Catalyst to All-Digital Regulatory Compliance? - May 12, 2020
- Now is the Time to Double Down Existing Technology and Investments - April 14, 2020
- Announcing Performance Plus: A Complementary Services Offer from iBASEt - April 9, 2020
- The Importance of Technology Investment in Down Markets - March 18, 2020
- The Future of Manufacturing - May 28, 2019