This blog lists the top 10 worldwide predictions for manufacturing product and service innovation. These technology predictions are meant to help the enterprise with strategic planning within a typical five-year business planning cycle.
Combatting a competitive market is no easy task. A growing concern of many manufacturers is the potential that they no longer have a tight bond with their customers which can withstand upstart competitors or third-party service providers who can eat away at profits. Recent IDC Manufacturing Insights data highlighted that the top business concern for service leaders was declining sales closely followed by a desire to expand into new markets. These two concerns combined demand that manufacturers innovate with new service products, differentiate through enhanced value, and wow current customers and prospects via value-add experiences.
This past week, I came across an article which explored how one luxury auto manufacturer looked to achieve 100% customer satisfaction. To me this seems like a goal off a billboard or one found on a motivational poster in a contact center. But this manufacturer truly believes it can and should have this as its target to be measured and be held to account.