7 Signs You Don’t Have the Right Project Management Tool for the Fourth Industrial Revolution
“Adapt or perish,” said H.G. Wells, the father of science fiction. Some of us know all too well how right-on this quote is to succeeding in business these days—especially when it comes to staying competitive in what’s being called the Fourth Industrial Revolution.
It’s an exciting time and a challenging time. Advanced technology, like in the previous industrial revolutions, is increasing the speed of manufacturing and doing business. This means that organizations and their product teams need to use software that supports faster turnover and accomplishes more with fewer resources.
Beware the trap of using yesterday’s tools
Being flexible is going to be the key to managing productivity and to business success in Industry 4.0. Most importantly, teams will need new world tools to manage new world demands. In a recent LiquidPlanner survey of more than 100 manufacturers across the U.S., 62 percent of respondents said they were looking to build revenue and cut costs over the next year by “boosting productivity.” At the same time, almost 80 percent of respondents said they use spreadsheets to manage their projects. But. But—
How do you do increase productivity in a new world when using old world tools? Consider this: Gantt charts were first developed in the 1910s, a tool that uses rigid start and finish dates, which don’t reflect changes in real time. The first spread sheet was invented in 1979—and spread sheets still require manual updating. Consequently, they are famously neglected and out of date.
Signs you’re using the wrong project management tool for Industry 4.0
- Interdependent teams work at cross-purposes because they have no way to stay on top of each other’s progress.
- Projects and deliveries are often late.
- Your supply chain is over-extended and chaotic.
- A chronic state of panic runs through your projects.
- Customers are dissatisfied. You’ve even lost a few over the years. Some are hanging by a thread.
- Employees are leaving. Team members are overworked and burnt out.
- Competitors are beating you to market. You risk becoming irrelevant.
Being flexible and using a platform that can respond to change and predict finish dates is going to be key to managing productivity and business success.
In our latest eBook, “Are You Ready for the Fourth Industrial Revolution?” we take a look at it means to thrive in Industry 4.0, and what tools are necessary to keep up with new world market demands. We’re going there right along with you!