As manufacturers are in a mission to transform the traditional world of production, understanding the customer’s expectations must be done to create an effective consumer network. Today’s trend is to connect through social networks, and the market trend must adhere to the changing environment.
Manufacturing industries are needed a change, but every industry that involves value networks is subject to development. The term value network is defined as the people network that thrives on making changes in the market strategies through collaboration. Enhancing the business according to the change in the economic power, increased capability, and accessibility of IT sectors might lead to the growth of the economy and the market. A collaborative value network involves stages such as construction, distribution, and supply network to build a strong network to deliver industrial products. So the crux behind ValueNetworksAndCollaboration involves human force to change the business ecosystem.
A collaborative value network through design-make-deliver strategy
The design phase involves the collaboration of customers in co-production activities with the integration of suppliers in the design process. Information can be shared in this collaborative network to enhance production and design.
The making phase involves building a strong and robust platform for manufacturers to produce according to the changing world. Companies having manufacturing platforms can take several steps to improve their production.
The delivery phase involves the supply chain that paves the way for a stronger collaboration with the customers. Various emerging technologies like cloud and other mobile services can be employed in the supply chain collaboration to expand the business network and reach many customers.
Shifting of the global economy and IT sectors
New consumers are emerging due to a shift in the global economy, which leads to the generation of innovative ideas in the production, marketing, and delivery sectors. Emerging marketing firms are trying to expand their network to satisfy the customer’s needs.
IT sectors are introducing new technologies to aid in expanding marketing firms. These include cloud computing, software improvements, hardware, and various communication technologies with improved performance, reliability, and standards. Value Networks And Collaboration strategies are necessary for effective production and marketing. The development of technologies also increases the production of products and potential customers, leading to the business firm’s major expansion.
An effective, responsible, and proactive collaboration of value networks can be a great advantage for major business firms in competing with various marketers and expand the empire.