We often hear arguments and statements from economic analysts that if the current global financial status and credit situations were reset and wiped out, it would return to the same state after a finite amount of time. Meaning, that the individuals and corporations with the favored bank balances would return to their original state before the hypothetical reset. The same would apply to the less fortunate. Robert Kiyosaki, author of Rich Dad Poor Dad, stated several times in his literature and lectures that the rich keep on getting richer, while the poor remain where they are. He argued that this is not necessarily because of fate or luck, but rather due to a healthy attitude and culture towards financial knowledge (or lack thereof). The same applies to the business world.
The market-leading manufacturers did not establish their long-term legacy and brand status by luck or by mediocracy. It is also never seen that these leaders rely on stagnant innovation to secure their market position and image. Do these market leaders only rely on their legacy, or do they have a different approach, independent of their size? Let’s take a closer look.
The Aberdeen group have been publishing research since 1988 to assist businesses worldwide to improve their performance and profitability. Their research has produced multiple fact-based analyses, and vendor-neutral insights that identify Best-in-Class organisations from several industries. Various research data is continuously gathered from manufacturing businesses to extinct the Best-in-Class leaders from the rest and a key topic is the influence of digital technology, virtual prototyping and simulation-driven design.
Several factors were investigated from a business perspective which is directly related to typical engineering and technical considerations during product development. It is evident that the factors that influenced both business and technical aspects, favoured the organizations utilising innovative digital, simulation and Computer Aided Engineering technologies.
It is also clear that the Best-in-Class manufacturers utilize simulation earlier in the design phases and not only for final product evaluation and verifications. Simulation-driven design provides them with the added advantage of a better understanding of system architecture, sub-systems and detailed component-level insights, while also reducing troubleshooting challenges.
Delving deeper into various factors known to most manufacturing organizations, it is seen that both strategic decisions and day-to-day activities are influenced using engineering simulation. Critically, its impact on timelines and costs is the most important aspect for both technical and non-technical stakeholders.
The Aberdeen research (and several other sources) makes no secret of what distinguishes the industry-leading manufacturers from the mediocre and laggards. Digital and simulation technologies assist engineers in confronting the demand for increased innovation at reduced costs while maintaining best-in-class performance and a culture of competitiveness.
It is this drive for excellence and the utilisation of innovative technologies such as Computer Aided Engineering software that sustains the best’s ability to keep on getting better.
