MAINTAINING RELEVANCE DESPITE STRONG HEADWINDS
The industrial manufacturing sector continues to face challenges in the form of stagnating domestic growth, competition from low cost entrants, digitization of their core offerings and pressure to innovate and stand up robust service models. With the risk of obsolescence real, this leaves many legacy manufacturers wondering how best to future-proof themselves and create resilience in the face of such headwinds. Especially as maintaining relevance more than likely requires a substantial transformation in the form of strategy, business model and portfolio. A transformation requirement that has decimated portions of the US manufacturing base.
Plotting a course forward requires a combination of data, creativity, a willingness to step out of legacy business models and a strong, progressive plan that allows for rapid but well-paced evolution that catches the market at its likely future-state. Tower Strategy de-risks those moves. We’ve worked globally within the industrial manufacturing segment to map market dynamics, how the value chain is evolving to meet customer needs and the implications on our clients’ strategy. Including opportunities to either reinvigorate a stagnant, legacy product portfolio, tap into the adjacent aftermarket and spares segments, penetrate fast-growing frontier markets or engage in NPD with an eye towards digital (e.g., IoT). We focus on both the commercial opportunity: Where to Play as well as the operational and tactical requirements for getting there: How to Win.