A guidebook for heavy industry's digital journey

McKinsey

Heavy industry has a lot to gain from the digital revolution. Insights on OperationsTo capture the benefits, companies need the right kind of transformation plan.

Using Advanced Analytics to Improve Operational Decisions

BCG

Operations leaders routinely make critical decisions across the entire value chain. However, many operations leaders must climb a steep learning curve to understand the best ways to apply advanced analytics. Article Thursday, December 15, 2016.

Drones Help New Industries Take Flight

Tom Spencer

Even though unmanned aerial vehicles (drones) have been around for a decent amount of time, we don’t see many in the sky or many industries using them yet.

Asset Management – Industry Overview (Part 1 of 4)

Tom Spencer

The asset management industry is a steward of money provided by individuals and institutions, and manages this money in order to meet the unique return objectives of each client. Operating Margins. Asset managers are institutions that ‘manage money’ on behalf of certain beneficiaries.

How BCG, Bain & the Consulting Industry Got Started

CaseInterview.com

There's a great article in Bloomberg BusinessWeek that while several years old does a great job at discussing how the global strategy consulting industry got started, why Boston Consulting Group was founded, how Bain was a spinoff of BCG, and how Bain Capital was a spinoff of Bain. Note: The article begins by describing Mitt Romney's 2012 US presidential campaign, but by the middle of the first page discusses the history of the strategy consulting industry.).

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Mapping heavy industry’s digital-manufacturing opportunities

McKinsey

Manufacturing digitization could boost heavy-industry profit margins by three to five points—but only if people can make the new technologies work at scale. Insights on OperationsThe first article in a new series looks at the opportunity and the sector’s progress.

The services solution for unlocking industry’s next growth opportunity

McKinsey

At high-growth industrial companies, services aren’t just an optional add-on, but an essential revenue driver deserving thoughtful investment. Insights on Operations

The Insurance Industry Needs an Intervention

Strategy+Business

Before attempting to execute new strategies, insurance companies need to reevaluate every dimension of their operating model. Here are some recommendations

Figuring Out How IT, Analytics, and Operations Should Work Together

Harvard Business

A new set of relationships is being formed within companies around how people working in data, analytics, IT, and operations teams work together. For IT to operate in the data and analytics space often takes realigning roles and responsibilities. Analytics Operations IT Digital Articl

Moving past the ‘pilot trap’ to unleash Industry 4.0 in Indonesia

McKinsey

Insights on OperationsGovernments and businesses must find ways to create confidence in new manufacturing technologies and help early adopters get past initial implementation.

Creating the Industrial Ecosystem

McKinsey

The day before the main event I was included in the Industry Analysts visit to the Siemens Technology Center, at Neuperlach in Munich. Siemens is in some highly competitive industrial markets. Getting the balance right is crucial for all Industrial digitally aware organizations.

Will long-term transformations threaten the consulting industry’s ability to hire top graduates?

Tom Spencer

Graduates flock to the consulting industry for the opportunity to work on interesting cases, get experience across a variety of industries, and build a valuable professional skill-set.

Getting an Intricate Operation Back in Sync

Harvard Business

Facing interconnected operational issues, members of the eight-person senior leadership team were turning against one another. Essentially it is a fresh start, and it can begin any time we have an operational breakdown, to remind people of the need for change and continual improvement.

Consolidation in Europe’s Airline Industry

BCG

But there is more turbulence ahead: Brexit, increasing industry capacity, and competition for long-haul traffic from low-cost and high-­service Middle Eastern and Asian carriers are likely to undercut the profitability of European full-service carriers (FSCs).

Managing Change in the Oil and Gas Industry

BCG

Through its vertically integrated operations, the company controls all aspects of the value chain—from exploration, extraction, and production to refining and distribution—and employs more than 106,000 people worldwide. Video Tuesday, November 01, 2016.

For Beginners: A Roadmap into the Consulting Industry

Tom Spencer

Simply put, management consulting is a profession that requires practitioners to possess solid and wide business common sense, deep professional knowledge in 1-2 domains (such as Marketing, Retail, Operation), and most importantly, intellectual capability to solve complicated business problems for clients. The management consulting industry is far from being a big mono chunk. A whole value chain exists in this industry.

Selling $7 Million In Consulting Services Within 12 Months with Shannon Adkins: Podcast #61

Consulting Success

For the ten years being in industry, Shannon Adkins was a buyer of consulting services and of multimillion-dollar contracts of consulting services. Consulting Success Podcast change management consulting services Future State Management Consulting operational transformation

Disruptive Fair Trade: How Naadam Is Getting the Cashmere Industry’s Goat

Harvard Business

Matt Scanlan, CEO of the cashmere clothing company, Naadam, talks about how he created a successful startup with almost no knowledge of the industry that he was about to disrupt forever. Founders Supply chain Operations Audio

The trillion-dollar opportunity for the industrial sector: How to extract full value from technology

McKinsey

As data, connectivity, and processing power expand, so do opportunities for industrial companies to extract value through innovative products, services, operational efficiencies, and business models. The digital revolution is just beginning. Digital Insights

Time to Accelerate in the Race Toward Industry 4.0

BCG

Throughout the world, companies recognize that their success depends on adopting the new digital industrial technologies that are collectively known as Industry 4.0. We found that, so far, companies in the two countries have implemented Industry 4.0 Focus Thursday, May 19, 2016.

IoT Disruptions in 3 Industries and What You Can Learn From Them

Tom Spencer

In this article, you will learn about three industries in which IoT disruptions are likely to have a major impact. These systems can broaden operational efficiencies and improve public and road safety.

The Insurance Industry Needs an Intervention

Strategy+Business

Before attempting to execute new strategies, insurance companies need to reevaluate every dimension of their operating model. Here are some recommendations

50 Foreign Companies Operating in France Sound the Alarm

MishTalk

Via translation from Les Echos , please consider 50 Foreign Companies Operating in France Sound the Alarm. The case is not indifferent: 20,000 companies share our identity, employ 2 million people, or 13% of the employed population, fourth in the industrial sector alone. We contribute about 29% of French industry sales, providing a third of French exports. We contribute 29% of French investment and provide 29% of the R & D companies operating in France.

What’s ahead for industrials?

McKinsey

To stay competitive, companies need to sustain momentum while developing new capabilities, offerings, and operating models. Our Insights

The Dirty Little Secret About Digitally Transforming Operations

Harvard Business

Earlier this year, we walked the halls of the Hannover Messe, one of Europe’s largest events for industrial manufacturers. The newest robots, 3-D printing systems, and data-mining hardware and services were all there along with a host of people hyping Industry 4.0,

Consumerized Healthcare: More Aspirational than Operational

1 to 1

The healthcare industry is undergoing a massive change as federal regulations and consumer expectations align, transforming an industry that has an infamously poor customer care record.

How a Digital Storm Will Disrupt the Parcel and Express Industry

BCG

You shake your head and wonder, What happened to my industry? They’ve spent decades building highly efficient operations and dominant market share. Their market power and margins may erode, until they wake up in a very different kind of industry.

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Western Europe’s consumer-goods industry in 2030

McKinsey

To succeed in the next 15 years, manufacturers will need to stretch their operating models in new directions. Our Insights

Great Businesses Scale Their Learning, Not Just Their Operations

Harvard Business

Historical studies of the Industrial Revolution have shown that there was a significant lag between the introduction of new industrial machinery into the workplace and resulting productivity improvements because it took time for workers to develop the skills required to get the most value out of the machinery – skills that could only be taught in a very limited form because they had to be adapted to specific contexts and needs.

How Industrial Firms Invest in Renewable Energy, Affordably

Harvard Business

It sounds like an easy win-win, but industrial companies have had a harder time making it all work for two key reasons: costs and accounting. First, due in large part to the scale and consistency of their energy purchasing, industrials already pay the lowest rates for power.

Startups Could Fundamentally Change the Way Big Investors Operate

Harvard Business

Innovation has the potential to transform the investment industry. This reliance has evolved because despite the enormous volumes of capital they control, most of these giants are strictly “firewalled” and cannot use the capital to fund actual operations, even if doing so would generate higher expected investment returns or lower risk.

The offshore-wind industry’s moment of reckoning

McKinsey

The days of stable and relatively high revenues are ending for Europe’s offshore-wind developers, owners, and operators. Making money on tomorrow’s low-price projects will require a new degree of discipline. Insights on Sustainability & Resource Productivity

What’s Driving Superstar Companies, Industries, and Cities

Harvard Business

Some superstar firms benefit from being in “superstar” sectors of activity, particularly those in which value-added gains go to gross operating surplus (an economic measure that represents the income earned by capital). Apexphotos/Getty Images.

It’s Always the People; Whether Operating, Buying, or Selling a Business

Martinka Consulting

Almost everybody in my industry has a story or two about how a business seller sold to someone for less money because of the relationship. The post It’s Always the People; Whether Operating, Buying, or Selling a Business appeared first on Martinka Consulting. On Tuesday, August 16, 2016 the Wall Street Journal had a major article titled, “ The Company Town That Chocolate Built.”

Differentiate yourself by taking a stand against something you don’t like about our industry

Rod Burkert

What pisses you off about our industry? What if you stood out by promising something different than the standard operating procedures your competition follows? One way is to differentiate yourself by taking a stand against something you don’t like about our industry.

3 Reasons Why LYFT Is “Winning” The Ride Share Industry

Cheryl Cran

It appears that recently the brand equity of Lyft is ‘winning’ in the ride share industry. Here are 3 Reasons Why Lyft Is “Winning” In the Ride Share Industry: Lyft has always focused on treating people well. Being the “little guy” in an industry can create major opportunities.

Labor unions in a post-industrial age

Seth Godin Blog

Industrialism is based on doing a difficult thing (making something) ever cheaper and more reliably. Or if the unions had pushed hard for more and better robots, together with extensive education to be sure that their workers were the ones designing and operating them?

Why the Middle East’s Petrochemical Industry Needs to Reinvent Itself

BCG

Article Monday, November 07, 2016 Multiple market disruptions—including the shale gas renaissance in the United States, plummeting oil prices worldwide, and a capacity expansion drive in China and Iran—are reshaping the Middle East’s petrochemical industry. Slowing growth rates in the global chemicals industry will only worsen the problem.

Why the Middle East’s Petrochemical Industry Needs to Reinvent Itself

BCG

Article Monday, November 07, 2016 Multiple market disruptions—including the shale gas renaissance in the United States, plummeting oil prices worldwide, and a capacity expansion drive in China and Iran—are reshaping the Middle East’s petrochemical industry. Slowing growth rates in the global chemicals industry will only worsen the problem.

Does It Pay to Hire Consultants? Evidence from the Bordeaux Wine Industry

Harvard Business

Consulting is pervasive in many industries. To evaluate the impact of hiring consultants and to figure out when they might offer the most value, I turned to the wine industry , where over two-thirds of wineries hire consultants to improve the quality of their wines. The wine industry is no exception. In the Bordeaux wine industry the terroir is the main resource. Operations management Consulting Digital ArticleYet the use of consultants remains controversial.