As organizations learn from last year and prepare to capitalize on increased opportunity in the new year and beyond, Edwin Bosso, Founder and CEO of Myrtle Consulting Group, now part of Accenture, shares his reflections and advice.

Even after exceptional disruption to organizations around the globe, the manufacturing sector closed out 2020 with its highest growth since 2018. The Institute for Supply Management’s Semi-annual Economic Forecast projects 2021 will bring economic improvement in manufacturing and services.   With the pandemic far from over and the economy still recovering from last year’s challenges, why is there hope for a brighter manufacturing future?

Sector growth in the last quarter of 2020, along with advancements in manufacturing technology, COVID vaccines and lessons learned by manufacturers all play a part in this optimistic outlook.

As organizations learn from last year and prepare to capitalize on increased opportunity in the new year and beyond, Edwin Bosso, Founder and CEO of Myrtle Consulting Group, now part of Accenture, shares his reflections and advice. 

What can the lessons manufacturers learned in 2020 propel their success in 2021?

While there were many lessons learned, three key themes were empowerment, agility and technology – all of which will be critical in setting the stage for 2021. We saw that manufacturing organizations need to empower employees in new ways to get products out the door without the same level of hands-on involvement from leadership. We also observed that agility in everything, from suppliers and logistics to staffing and shifts, made the difference between survival and failure. Finally, the pandemic helped organizations see the potential benefits of new technology and increased automation, forcing many to take a closer look at their legacy systems. While established manufacturers see these investments as capital-intensive and often lengthy in implementation, they are also beginning to take a long-range view of costs and benefits rather than weighing only the immediate ROI. It is necessary to see technology as an evolution that will take time to unfold, well beyond 2021. Yet, this is still one of the most exciting times in manufacturing.

Read the full article published by Manufacturing Tomorrow.