For a long time, the solutions to reduce time to market favored businesses that could handle high levels of risk and capital expenditure investment and were comfortable with an uncertain payoff.
But advanced technologies, supported by 5G technology, could level the playing field and democratize market access. Digital transformation of the supply chain increases transparency and helps support data-driven decisions. Businesses no longer need to fly blind.
Similarly, cloud computing and virtualization reduce infrastructure costs, meaning companies do not have to invest in computing resources that could go unused.
Digital transformation has also increased access to automation, which can relieve workers of tedious tasks and free them to focus on more important work. Internet of Things (IoT) sensors in the field, in a warehouse or in a manufacturing plant can gather data that can be fed into machine learning algorithms. Edge computing interprets this data in real time, forecasts when problems will appear down the pike and acts to help mitigate those problems. Data-driven decision-making gives operations more autonomy, can help minimize downtime through predictive maintenance and can be leveraged for more strategic labor deployment.
Data analytics, IoT sensor data processing, automated production processes and edge computing can be powered by 5G, and they can all help reduce time to market. A combination of 5G and a suite of transformational technologies could dramatically improve speed to market and support your bottom line. A faster time to market can help your supply chain be more responsive to your business needs, too.