Keeping pace with trends while maintaining profitability
The high-tech industry is currently experiencing rapid and revolutionary growth due to the emergence of new trends and technologies such as artificial intelligence, Internet of Things (IoT), virtual reality, blockchain and automation. This growth presents many challenges for companies in the industry, as they must keep pace with these trends while maintaining profitability.Get in touch
Companies operating in the high-tech space must be agile and forward-thinking to succeed
Trends equals challenges: Smart connected products, mobile apps, and Internet-of-Things (IoT)
One of the most important trends in the high-tech industry is globalization. As technology becomes more prevalent, companies are forced to expand their operations to different markets around the world in order to remain competitive. This expansion requires companies to create efficient supply chains with global visibility while innovating products quickly – all while providing excellent customer service.
The other trend emerging in this space is digital transformation. Companies are increasingly turning to cloud-based solutions, Big Data analytics, social media platforms, mobile apps, and Internet-of-Things (IoT) devices to improve operational efficiency, reduce costs, engage customers at a higher level, and increase revenue streams. Digital transformation initiatives are often complex projects that require significant resources and time to implement correctly, leading to many companies struggling or failing to do so.
The challenge then is to find strategies that give companies a competitive advantage over their competition while remaining profitable in the midst of all these trends impacting the market. To gain this advantage, companies need access to data that can inform decisions on product development strategies and pricing models to achieve maximum profitability – so data-driven decision making is critical to success. In addition, experienced IT personnel are required to successfully integrate solutions into the existing architecture – meaning that companies that want to remain competitive in this space should carefully consider investing in talent.
- Increasing Demand for Smart Electronics Devices
- Short Product Life Cycles
- Complex Global Supply-chains
- Service and Warranty Management
Electronics & High-Tech
Trends such as Big Data, cybersecurity, IoT, artificial intelligence (AI), automation, cloud computing, robotics, machine learning (ML), and blockchain technology are creating new opportunities for companies in the high-tech sector. With the right strategies, companies can leverage these trends to diversify their products and services while improving customer service.
At the same time, there are several challenges that high-tech companies face. These include developing efficient supply chain management systems that provide global visibility of raw material sources and finished products, managing the costs associated with research and development, efficiently introducing new technologies, meeting customer expectations, managing complex regulatory environments, creating transparent cost structures, and protecting intellectual property rights.
Electronics & High-Tech Industry Solutions
PDSVISION build and enable the following key capabilities so that you can collaborate across the value chain to smoothly manage product complexities, variability and the cycle time:
- Integrate ECAD (Electronic CAD) tools with PLM to ensure that PLM is maintained as single source of truth for all product data
- Provide real time synchronization of ECAD and PLM library and ensure that PLM is the leading system for part numbering
- Implement a cross enterprise change management process involving the CEM (Contract Electronics Manufacturer)
- Design and develop collaborative platform to consolidate change controlled data into work packages for sharing with CEMs without any compromise on IP and copyright protections
- Define and configure classification hierarchy and classify the existing parts for effective and efficient management of buy parts and associated manufacturing and vendors parts