10/11/2024

In the Boardroom, Digital Transformation Outshines PLM

It is important to understand why

In simple terms, digital transformation is about using modern technology to make organizations run better and drive more value to their customers, employees and partners. It often encompasses improvements in decision-making, operations and customer service, and it opens opportunities to rethink and reshape how a business operates. Whether through Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Product Lifecycle Management (PLM), Manufacturing Execution Systems (MES) or advanced technologies like Artificial Intelligence (AI), Machine Learning (ML) and the Internet of Things (IoT), digital transformation helps redefine business operations for the future. However, the term is often used loosely, becoming synonymous with general technology adoption.

On the other hand, business transformation goes beyond simply implementing new tools. It involves structural changes, strategy overhauls and redefined goals in response to evolving opportunities, challenges or long-term visions. Digital tools may be central to enabling these shifts, but the key to successful transformation is in rethinking how the business operates.

To stay competitive, businesses need to undergo both digital and business transformations in tandem, as technological advancements often necessitate cultural, workflow and strategic changes to fully unlock their potential.

Please select this link to read the complete article from Engineering.com.