For the last few years, manufacturing has undergone a number of significant changes. Many of them relate to increased adoption of advanced technology and broader implementation of automation tools and techniques. They're categorized under the umbrella of what's interchangeably called Industry 4.0 or the Fourth Industrial Revolution (depending on who you ask), according to Forbes contributor and business technology consultant Bernard Marr.
Although virtually all manufacturers have become familiar with this new way of thinking and its associated best practices, not nearly as many have adopted it, according to a BDO study released earlier this year. If your organization hasn't already done so, it will be critical for your manufacturing firm to embrace Industry 4.0 – and if a global executive search is currently slowing down progress, YES Partners can help.
The vast gulf between understanding and implementation
In its inaugural Middle Market Industry 4.0 Benchmarking Survey, BDO found that 99% of middle-market manufacturing executives understood what Industry 4.0 was, or were at least familiar with its basic principles. But only 5% said they'd started to implement the new methods associated with this approach, including internet of things connectivity, automated oversight operations or wide-ranging mobility. More than half of these business leaders (54%) had developed an Industry 4.0 strategy or were in the process of doing so and weren't ready to implement, while 25% of them said they planned to create such an initiative but hadn't gotten started.
Eskander Yavar, national leader of BDO's Management & Technology Advisory Services division, stressed how important it was for manufacturers to get on board with this new operational philosophy sooner rather than later.
"Over time, Industry 4.0 will radically transform how manufacturers derive and deliver value," Yavar explained in a press release accompanying the survey. "But the window of opportunity is closing fast. Manufacturers who don't invest in 2019 risk falling behind the curve. The middle market is no exception."
Finding the right 4.0 vision for your business
It must be said that major shifts in any industry can be hard for all firms within it to undergo at the same pace. And if your organization lacks the right personnel, especially at the executive level where the big picture is most readily glimpsed, you might fall behind regardless of intent.
YES Partners has the proven experience and worldwide reach to help you track down the C-level staff your manufacturing business needs to realize its Industry 4.0 ambitions in a way that best fits your unique needs and benefits the corporate bottom line. To see some of the roles we have already successfully placed, click here.
Finding people is easy, but finding the RIGHT people is not. YES Partners helps companies FIND the right people for all company functions, across many industries.