According to kerry Koutsikos, vice president and general manager of Infor MENA, in addition to the ever-present competition, manufacturers must navigate soaring costs and supply chain issues that threaten to disrupt their best-laid plans.
According to Koutsikos, advances in digital technology, from ERP solutions to AI and machine learning, hold the potential to transform operations and give manufacturers the ability to raise efficiency and operate smarter – potentially more than offsetting the current challenges.
This is especially important in the MENA region, where countries including the UAE, Saudi, and Egypt have ambitious plans to grow their manufacturing bases.
In the UAE, industrial manufacturing is key to Operation 300bn, a government strategy that aims to raise the industrial sector’s contribution to the GDP from some $36 billion to $81 billion by 2031.
Saudi Arabia is also providing significant backing to the manufacturing sector with initiatives such as the construction of new industrial cities like Jubail and Yanbu, the establishment of SIDF (Saudi Industrial Development Fund), and other incentives which help industrialization, according to Mordor Intelligence.
Industrial production in Egypt is forecast to outpace economic growth in 2022, increasing by 5.1 percent, according to Research & Markets and the government remains committed to expanding the manufacturing sector in 2022, targeting growth of more than 7 percent.
However, Koutsikos explained that individual manufacturing players must ensure that new strategies and actions sync, as well as align with and exceed customer expectations.
As they work toward that digital transformation starting point, organizations should aim for an inclusive culture where people feel like they are key contributors to the company’s future success.
To achieve this, management teams should encourage a culture of openness to help employees step forward with their ideas.
Additionally, organizations should invest time and effort upfront to understand exactly what they want to achieve from their digital transformation.
