“Things move pretty fast around here. If you don’t stop and look around, you could miss it.”
Famous words by one of our favorite movie characters: Ferris Bueller.
Boy, if he thought things moved fast back in ’86, I can’t imagine what he’d think about how fast things move today?!
The reality is, that in today’s “technologically super-charged” economy, getting comfortable or stopping for any length of time in business, could be fatal. Customers are telling us that speed to market; accelerated innovation and disruption are the order of the day.
All of this need for fast innovation is driven by fully empowered consumers and business users who have very high expectations i.e. they want what they want – when they want it, and how they want it and don’t settle for anything less. These new demand forces are coming up against antiquated supply chains and all of it seems to be headed straight for a collision course if you ask me. That is, legacy supply chain management processes are simply not equipped to handle the “new consumer”. Compounding matters are “competitive pressures” companies face from new and innovative entrants, who expertly leverage technology and data, to create or disrupt value chains completely; leaving some companies completely disintermediated and irrelevant. Yikes!
By now, you are familiar with the long list of disrupted companies, and who’s disappearing versus who’s thriving. Just today, for example, we learned that Blackberry announced it was officially exiting the Smartphone market! Can you believe it? Blackberry, who kind of started the whole move to smarter phones. So the pressure is very real, and companies who fail to accelerate everything; from the way they innovate, to the way they design and prototype products, to the way they build products in production, to the way they deliver products to consumers and businesses, stand a very good chance of disappearing.
To help companies stay relevant and become the disruptor versus the disrupted, Jabil has been driving digital transformation across our entire enterprise. For us internally, it translates into better business operations. Externally, it has enabled us to deliver new commercial solutions that help customers speed things up from “ideation all the way to production (manufacturing)”. In fact, in one case study, we observed that the entire “idea to prototype – prototype to tooling – tooling to production” cycle was sharply reduced from 25 weeks down to 7.5 weeks. That type of acceleration is not just ‘beneficial’ to our customers, it’s the difference between surviving or not. Not to mention benefits ranging from cost savings, revenue acceleration, and even market advantage/dominance.
Today, Jabil and our innovation and development arm, Radius, delivered 3 new categories of “Innovation Acceleration” services to help customers move at the speed of digital. 1) Digital Prototyping services, 2) Procurement & Supply Chain Managed Services and Solutions and 3) Digital Manufacturing solutions (including 3D Printing Consulting for manufacturers).
These new solutions offer our customers a way to reduce time to market by half (at least) and do so at a fraction of the price.
But don’t take it from me, please listen to what one of our early adopter customer, Superfeet, has to say in the video below!