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Co-Sourcing. A type of outsourcing that makes the externally hired company part of your in-house team and promotes values of sharing risk and reward is Co-souring. It provides control over operations with a lowered cost of manufacturing. It requires using specialized skills and resources for specific tasks. Nearshoring.
An early case study of BPR was Ford Motor Company, which successfully implemented reengineering efforts in the 1990s to streamline its manufacturing processes and improve competitiveness. Organizations of all sizes and industries implement business process reengineering. BPR initiatives generally boost key performance indicators (KPIs).
For instance, manufacturing companies undergoing digitalisation can automate inventorymanagement to speed up deliveries. Today, IKEA is integrating AI and drone technology in warehouses to improve inventorymanagement. The brand even co-created a limited edition beverage assisted by AI. Increasing revenue.
When it comes to the manufacturing industry, the grainy image of smokestacks and bustling shop floors often comes to mind, however, modern manufacturing is a much more complicated landscape that involves numerous businesses working together. In 2024, we began our research focused on the manufacturing and use of connected products.
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