Finance
What are the primary concerns for Finance when evaluating new technology investments?
What is...
Cost savings
Financial efficiency
Payment terms
Contract terms with flexibility (1 year preferred v 3 year)
Value compared to alternatives
Minimizing price increases
What is a key goal for Product when developing new products?
What is...
Enhancing product innovation
Meeting market demands
Driving revenue
Believing that it will be adopted in the market
What is a primary responsibility of Engineering in manufacturing?
What is...
Ensuring the efficiency and effectiveness of manufacturing processes
Making sure the process is implemented efficiently
What is a key goal for the Operations in improving operational efficiency?
What is...
Reducing costs
Increasing productivity
What are the key responsibilities of IT?
What is...
Managing IT infrastructure
Ensuring system uptime
Supporting users
Cyber Security
What are the main responsibilities of Compliance?
What is...
Ensuring the organization adheres to laws and regulations
What are the primary goals of the CEO?
What is...
Growth
Market Expansion
Innovation
Improving Shareholder Value
Managing the 3 Key Stakeholders - Shareholder Value, Customer Value and Experience, and the Employees
What are the primary goals for Sales?
What is...
Increasing Revenue
Expanding Market Share
Improving Customer Acquisition
What are the main responsibilities of Quality in ensuring product quality?
What is...
Overseeing Quality Control Processes
Conducting Inspections
Ensuring Compliance with Standards
What are the primary goals for Marketing?
What is...
Increasing Brand Awareness
Generating Leads
Supporting Sales Efforts with Resources
Which financial metrics are crucial to monitor in cost-saving initiatives?
What is...
Return on Investment (ROI)
Reduced operating expenses
Improved cash flow
Increased profit margins
How does Product ensure that products meet market demands?
What is...
Market research
Customer feedback
Metrics usage and adoption
Survey questions
How does the engineering team improve process efficiency?
What is...
Implementing best practices
Leveraging technology
Collaborating with supplies and stakeholders
Determining how they wire together what we're providing with what we're producing
How does the Operations measure the success of operational strategies?
What is...
Tracking key performance indicators (KPIs)
How does IT ensure smooth operations?
What is...
Monitoring systems
Performing regular maintenance
Providing user support
How does Compliance stay updated with regulatory changes?
What is...
By monitoring regulatory updates and participating in industry forums
Vendor provider sends updates
Webinars
Newsletters
How can the CEO ensure that any new technology aligns with the overall company vision?
What is...
Having a Strong Technology Strategy
Not making unilateral decisions
Ensuring alignment with all supporting team members
Seeing 4-5 other companies that have seen success with the technology
Asking:
- Is it within budget/does it deliver on ROI?
- Does this have an expertise/capability I don't have?
How does Sales ensure alignment with the company's overall strategy?
What is...
Regular Sales Meetings
Clear Communication of Goals
Alignment with Marketing and Product Teams
How does Quality ensure that standards are maintained across all manufacturing processes?
What is...
Implementing Standardized Procedures
Regular Audits
Continuous Employee Training
How does Marketing ensure that strategies align with the company's overall objectives?
What is...
Regular Strategy Meetings
Aligning with Sales and Product Teams
Setting Clear Marketing Goals
When considering a new solution, what factors are typically included in the TCO calculation?
What is...
Evaluating all direct and indirect costs over the solution's lifecycle.
Cost to integrate, implement, train, maintenance, and support.
What are common challenges faced during the product development cycle?
What is...
Balancing innovation with cost and time constraint
Getting the design right
Timeliness
Delivering something that has value
What are the biggest technical challenges when engineering for manufacturing?
What is...
System integration
Maintaining uptime
Managing technical debt
Ensuring Time To Value (TTV)
Fighting 3rd Parties when it comes to Speed & Scope
What to Build & What to Partner with
The "Why didn't I have this yesterday?"
What are common operational challenges in manufacturing?
What is...
Supply chain disruptions
Maintaining quality
Managing workforce
What are common issues encountered by IT?
What is...
Network outages
Cybersecurity threats
Software bugs
Cost of the services vs. Head count, software, hosting
The most efficient way to do this with the budget we have
What are common compliance challenges in manufacturing?
What is...
Staying Compliant Costs Money
Selling Compliance to the Business
Keeping up with Changing Regulations
Ensuring Employee Adherence
Maintaining Documentation
What are the biggest challenges the CEO faces in driving digital transformation?
What is...
Resistance to Change - No One Likes Change.
Aligning Diverse Teams
Maintaining Momentum
Understanding the Current Tech Debt
Asking:
-Can it integrate seamlessly?
-Do we have the talent to integrate & use this tool?
What are the biggest challenges Sales faces in achieving targets?
What is...
Market Competition
Changing Customer Needs
Economic Fluctuations
Training on New Tools
What are the biggest challenges Quality faces in maintaining high standards?
What is...
Variability in Raw Materials
Process Inconsistencies
Keeping up with Regulatory Changes
What are the biggest challenges Marketing faces in executing campaigns?
What is...
Market Competition
Changing Consumer Behavior
Budget Constraints
What projects/resources take priority?
What strategies might a Finance use to manage financial risks in manufacturing?
What is...
Diversification
Hedging
Implementing robust financial controls
Ensuring contract terms
Holding individuals accountable
How does Product typically measure the success of a new product?
What is...
Return on Investment
Customer Satisfaction
Market Share
Hitting Specific Product Milestones
Achieving Certain Usage Targets
How does the engineering team stay updated with the latest trends and technologies?
What is...
Continuous learning
Attending industry conferences
Networking
Curiosity
Self-Study
How does the Operations typically collaborate with other departments to achieve operational goals?
What is...
Engineering - work closely to ensure the products being produced
Finance - set the budget for Operations and track their spending
Sales & CS - understand customer needs and make sure Operations can deliver on them
How does IT typically measure the success of a project?
What is...
Reduced Downtime
Increased User Satisfaction
Improved System Security
Cost Savings
On Time Project Delivery
How does Compliance ensure adherence to standards?
What is...
Conducting Regular Formal Audits
Training Employees on the Benefits of Compliance
Implementing Compliance Programs
What metrics does a CEO use to measure the success of operations?
What is...
Financial Metrics and KPIs - profitability, defect/return rates
Productivity per Unit/Line - looking at year over year metrics
Lead Time
Production Output
Employee Engagement
How does Sales measure performance?
What is...
Talk/Listen Ratios
Forecasting
Tracking Metrics and KPI's like:
Revenue
Conversion Rates
Customer Retention
How does Quality measure the effectiveness of the management system?
What is...
Tracking Key Quality Metrics:
- Defect Rates
- Customer Complaints
- Compliance Audit Results
How does Marketing measure the success of efforts?
What is...
Tracking Metrics such as:
- Lead Generation
- Conversion Rates
- Return on Marketing Investment (ROMI)
How does one of our solutions integrate with existing ERP systems to streamline financial reporting and compliance?
What is...
RIH: Seamless Data Integration
PLM: Synchronizes product data with ERP for accurate cost tracking and compliance.
CPQ: Automates pricing and quoting, ensuring consistent financial reporting.
CAD/Design Tools: Links design data with financial records for streamlined cost management.
How does our solution facilitate collaboration between cross-functional teams during product development?
What is...
RIH: Seamless Integration across different platforms and departments
PLM: Centralizes product data for better team coordination.
CPQ: Streamlines configuration and quoting for improved alignment.
CAD/Design Tools: Enables real-time design collaboration.
How does our solution leverage data analytics to optimize engineering workflows and decision-making?
What is...
PLM: PLM tools provide real-time insights to optimize processes and support informed decision-making.
CPQ: CPQ tools streamline quoting and pricing, enhancing efficiency and data-driven decisions.
CAD/Design Tools: CAD tools improve design accuracy and speed by leveraging data analytics.
How does our solution facilitate real-time decision-making and process optimization?
What is...
PLM: Enables real-time process monitoring and quick bottleneck resolution.
CPQ: Provides real-time sales visibility and optimizes pricing decisions.
CAD/Design Tools: Facilitates quick, informed design decisions through real-time data analysis.
How does our solution handle data migration from legacy systems?
What is...
RIH: Seamless Data Integration
PLM: Consolidates legacy data into a unified system, ensuring data integrity.
CPQ: Automates the transfer of configuration and pricing data, ensuring accuracy.
CAD/Design Tools: Converts legacy design files into compatible formats, preserving integrity.
How does our solution support compliance reporting and documentation?
What is...
PLM: Centralizes product data for consistent documentation and regulatory compliance.
CPQ: Automates compliance reports and maintains accurate pricing records.
CAD/Design Tools: Provides detailed design documentation and revision histories.
How does our solution help the CEO make more informed decisions?
What is...
PLM: Provides insights into products and production metrics, identifies supply chain issues, analyzes costs, and evaluates supplier performance and defect rates.
CPQ: Provides visibility into the number of issued quotes, quoted products, most-pitched products, and high close rates, enabling repurposing efforts around close rates.
CAD/Design: Can analyze the types of projects being scoped/designed and their associated data and success rates.
How can our solution help Sales motivate and retain top talent?
What is...
CPQ: Streamlines sales processes, reducing errors and speeding up quote generation.
PLM: Provides up-to-date product information for informed decision-making.
CAD/Design Tools: Enhances product visualization and presentation for effective communication.
How can our solution help Quality improve product quality and reduce defects?
What is...
PLM: Centralizes product data for consistency and accuracy, reducing errors.
CPQ: Automates configuration and pricing to ensure quality standards.
CAD/Design Tools: Provides precise design and validation to reduce errors.
How can our solution help Marketing improve ROI and drive revenue growth?
What is...
CPQ: Enable personalized marketing campaigns and faster time-to-market.
PLM: Enhance product development and ensure efficient product launches.
CAD/Design: Create high-quality visual content and improve customer experience.