The Impact of Adopting an Agile Framework for Manufacturers
Agility as a framework is particularly useful in weathering unexpected market conditions. A McKinsey study that looked at the financials of 1,100 publicly traded companies during the previous economic downturn found that 10% significantly outperformed the rest. The one commonality? Their access to correct, up-to-date data and ability to use it to adjust budgets and accrual accounts to free cash flow and reduce debt.1
Given the advantages, it has become common practice among today’s manufacturing thought leaders to prescribe agility as a tool to adapt and thrive in un-forecasted market conditions. But for many, the advantages are ill-defined. The Impact of Adopting an Agile Framework for Manufacturers explores the consequences of failing to adopt an agile framework, the benefits of implementing one, and the steps manufacturers need to take to succeed with agility.