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Can tough economic conditions actually be a blessing in disguise for businesses?

Vincent Tang, Regional Vice President, for Epicor North Asia at Epicor Software | Aug. 24, 2016
Businesses can overcome difficult economic conditions by better planning and the deployment of agile technology.

Younger businesses have an advantage in this context because of their inherent agility. Nevertheless, agility doesn't have to just be the domain of the small or the young. A list of the top ten lean manufacturing companies in the world, which includes top brand names such as Nike, Intel and Ford, shows the extent to which the implementation of these technology-driven initiatives helps even the largest companies achieve success.

Throughout the manufacturing sector, we're seeing advances in technology that are proving to be the fundamental linchpin shaping this new business model. Technology systems like next-generation ERP give operators at all levels accurate and timely information with which to make informed decisions. 

As a result, smart manufacturing businesses are investing now, with the needs of tomorrow in mind. They are also making better use of the technology investments they have already made to jump ahead of competitors and spot new market opportunities. This trend is despite, and in many ways because of, the industry downturn.

The journey is well underway from the long-outdated oil-and-overalls image to a modern and highly innovative sector.

 

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