Global Management Consultant and Senior Vice President of BE., Tech Mahindra's Management Services and Consulting Division.
Companies have been talking and working on business transformation concepts for years. Unfortunately, most of them have not yet taken full advantage of this transformation. Gratitude is a major success factor. Many companies are unable to determine the final status of their digital transformation. By drinking too much Agile Kool-Aid, many of them end up on a journey aimlessly. Then the journey will end nowhere.
In this article, I will identify several key skills a company needs to acquire as part of its transformation process. I will discuss how to use this framework in future posts.
Being Conscious: Definition
The "conscious enterprise" is a tentative definition of the desired end state of a digitally transformed enterprise. Conscious initiative is the idea that future initiatives can demonstrate greater concentration and coherence of action than the traditional initiative.
Key functionality of the digital enterprise
Here are 10 distinctive capabilities of a smart (truly digital) enterprise.
ambient intelligence
It refers to an organization's ability to understand what customers want. With the advent of social media and social listening techniques, as well as other large-scale datasets, organizations have access to a wide range of data to better understand what their customers want. Truly digital organizations are mastering the art of integrating external and internal data in near real time to adapt the direction of their organization.
metacognitive marketing
This allows organizations to discover the relationship between potential customers' wishes and predict future customer behavior. Metacognitive marketing collects information from all possible sources and helps companies identify potential customers. This helps narrow your marketing campaigns to focus on qualified buyers.
Customizable products by the customer
Customer configurable products allow shoppers to interactively select different feature options when placing orders based on their preferences. When it comes to automated ordering, the process allows customers to design products that meet their specific needs. The shoe manufacturer Nike offers customized shoes to its customers. The color, style and various characteristics of the shoes can be customized according to the customer's wishes. Inventory automation and real-time inventory tracking are capabilities smart digital companies are developing as part of customer-customizable product management.
Contactless sales process
Regardless of their business model (business-to-business or business-to-consumer), organizations use hyper-automation to enable fully automated sales processes. In the B2B space, where salespeople are traditionally required to manage complex customer decision-making processes, these types of companies allow customers to manage the sales process. Providing contactless automation begins with customer self-service, giving the customer the flexibility to navigate through all the information provided, try the product on a trial basis, and finally complete the sales process after making a decision.
product as a service
These are also products offered as subscriptions or services. The product is continually being improved through the software platform to include additional functionality or service agreements. Models have longer relationships with close customer support. Taking advantage of this opportunity for an organization requires advanced product devices, telemetry, advanced product management capabilities, product enhancements, and more efficient membership-based monetary processes.
Production batch size
Companies need to significantly rethink their manufacturing and logistics operations to serve customers who require custom / configurable products. This includes thinking of products as modular units and rethinking the role of physical points of interaction with customers (such as the distributor). In a world of discrete manufacturing, cellular manufacturing allows for smaller batch sizes. This concept should be extended to the whole value chain and lot sizes should be reduced to the smallest possible size (one). Companies embarking on this journey are changing the way they plan, communicate with their supply chains, deliver dates to customers, and more. They need to review their commitments.
Self-healing supply chains
These systems can dynamically calculate and optimize supply chain performance. Machine learning is widely used in supply chains for a variety of use cases to reduce overall supply chain costs, reduce risk, and improve lead times. This helps reduce the anticipated risk and improve the supply chain planning process. Machine learning algorithms identify high-impact deviations and thus show the potential impact on important business metrics.
Management of the impact of the business life cycle
Digitally mature organizations create opportunities for holistic, data-driven business vision and business management. While traditional financial metrics and ratios will continue to be important, conscientious companies need to measure, report and manage metrics that are relevant to the company (e.g. environment, health and safety), employees and customers.
Back office with lighting
Experienced companies will take specific measures and will be able to handle most of the administrative tasks in the organization. These organizations believe that any process used to eliminate / man-in-the-middle is inherently non-scalable. Given their technical debt and leveraging multiple automated processes, digitally savvy organizations can create back offices that don't require human intervention. Most of your services will be available on a self-service basis to internal and external stakeholders.
a virtual double
A digital twin is a virtual representation of a company's physical assets. Virtual twins will represent the entire company and allow you to model and predict the impact of various events on the company. They will become real-time business management tools. Many of the functional applications of this technology that we see today (digital twins, supply chain management towers, digital flows, etc.) will be combined to create a virtual business model. Company stakeholders will be able to use the model to predict future performance. These models will be used to analyze the impact of various changes that may occur. When unplanned events occur, these twins allow stakeholders to plan quick action.
These skills combine to form a truly conscious initiative, but it is difficult to work on each of these skills together. In the following articles I will explain how companies can take advantage of each of these opportunities.
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