Digital Strategy

Four Major Obstacles Facing Value Chains

June 17, 2020

To successfully scale your business and product success, it’s critical to identify and address key challenges across your value chain.

Traditional product systems are held back by manual business processes, siloed product data and a strict allocation of responsibility among teams like engineering and sales.

These challenges are detrimental to many areas in the product development lifecycle, including product development, quality, customer satisfaction, and time-to-market.

How efficient is your value chain? These four major obstacles will give you a better idea of where you stand.

▢  Does your change management process lack clear visibility into what changed, when, and by whom?

A cloud-based system streamlines approvals and workflows, significantly reducing iterations and change order cycle times. An effective change management process helps you organize revisions and keep track of different versions of documents so that information stays consistent.

▢  Is your team spending too much time and energy hunting for product data across numerous systems?

With a collaborative product platform, teams across the organization can easily find product drawings and identify which parts are being used in the production line. Consolidating all product records in a single unified location increases overall employee productivity and eliminates the need to open multiple tools or dig through emails to find the latest project updates and design files. Having everything in one place guarantees that you’re sending the most accurate version to suppliers.

▢  Have incorrect parts been ordered in the past due to human error or lack of visibility into what was needed?

A single source of product truth ensures that your teams have the correct parts and accurate quantities of those parts. Plus, with a comprehensive platform, you can spot and resolve potential quality issues sooner, eliminating the possibility of designing products with components tied to a quality incident or complaint.

▢  Are you losing time to market waiting for changes to get approved by various stakeholders?

Using a single platform makes it easier to communicate the latest updates to your value chain and helps you avoid delayed approvals. Compare product revisions and manage multiple work streams in parallel without breaking workflow within your value chain.

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If you’re experiencing any number of these obstacles, you’re not alone. When 3D printer manufacturer Formlabs began to lose visibility in their value chain, they knew they had to re-evaluate their approach and consolidate their existing systems.

Now, Formlabs has a central hub for all of their product information that can be configured to meet their needs as the market changes. They’re able to sustain any setbacks or transitions between teams and value chains while remaining connected to supply chains and partners with a robust platform that can be accessed from anywhere in the world.

To learn more about Formlabs' journey towards overcoming their leading challenges, read their customer story.

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Author

Sutton Ryan

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