From the outset of this year and beyond, organizations across the globe have faced uncertainty -- especially manufacturers. Now, many of those same businesses must answer tough questions to mitigate COVID-19 business effects and transform business priorities in response.
How has the COVID-19 impacted business? How can manufacturing companies evolve to survive amid today’s new normal? Are these difficulties and losses avoidable in the future?
Today, survivability and future success for manufacturers rely heavily on cost optimization, but knowing how and where to streamline processes or shift operations isn’t always obvious. Industry 4.0 presents significant opportunities for manufacturing organizations to transform their entire value chains, spanning from design and production all the way to the delivery of new products.
To help manufacturers transform business operations efficiently and effectively, Wipro has developed a special cash preservation plan: the SAVE Framework. This end-to-end strategic approach starts with service design-led design thinking sessions followed by prioritization and business cases and then programmatic deployment. This framework helps organizations reduce costs while maintaining agility and adaptability in innovation by focusing on four key areas:
You can dive more deeply into each of these four areas by following the links above. In each of these articles, experts from Wipro outline how each of these four topics factor into the overall viability and efficiency of your business.
Manufacturers can achieve 5% to 40% in savings by pursuing strategic solutions like captive outsourcing. Through Automation and Artificial Intelligence solutions, manufacturers can increase cost optimization by 20%. Visibility Solutions can provide up to a 5% uplift. And Enterprise Solutions can increase efficiency by 15%. The framework works on the premise of building a business case that delivers outcome-backed results to mitigate today’s COVID-19 business effects. It allows manufacturers to holistically look at their enterprise portfolio to prioritize programs and projects based on returns on investments.
Interested in learning how you can transform business operations for your manufacturing organization by cutting costs without sacrificing efficiency? You can contact us for a free consultation. We’ll walk you through the SAVE Framework, while assessing your business to help you understand where you can optimize costs. Contact us today!