High Quality, Affordable Prices, and Frequent innovation- A paradox in the 21st century’s global business environment?

October 10, 2022

High Quality, Affordable Prices, and Frequent innovation- A paradox in the 21st century’s global business environment?

Long before the recent upheaval in the global economy wrought by the coronavirus pandemic, future-thinking companies had been tweaking their business models and competitive strategies. Why? to meet the not-so “impossible” demand of producing higher quality products, offering them at relatively affordable prices, and innovating faster to satisfy rapidly changing consumer tastes and preferences. Engineers are used to being tasked to respond to the challenges of producing complex/sophisticated designs under consistent pressure to reduce costs and improve quality in a fast-paced environment. Now, add in the urgency to innovate quickly and fast to market the new and/or improved product(s), and one can guess why even a future-thinking business leader might sleep like a baby (wake up every two hours crying). TMCG’s thinking is constrained to the third decade of the 21st century, considering the rapidly changing technological advancement landscape and TMCG’s expectations that the fourth industrial revolution (4IR) will usher in a new era of economic disruption. Certain of today’s high-profile technologies, processes, and systems such Robotics-AI, additive manufacturing (3D printing), mass customization, Digital Twin,  simulation-driven design for manufacturing (SDfM), generative design, etc. might degenerate into “dogs” or “question marks” by the end of this decade, if I may borrow these BCG Growth-Share matrix terms. This paradox/phenomenon seems to blend Clayton Christensen’s disruptive innovation, agile manufacturing, adaptability, and sustainability into perhaps a not-so “new concept” for creating competitive advantage and/or strategy in this third decade of the 21st century. Anecdotal evidence suggests that many/some global MNEs can and have maximized the utility of and leveraged the paradox to introduce new products into international markets and capture market share from their less agile peers. The vast majority of SMEs do/may not possess the organizational resources and capabilities of their larger brethren. Albeit innovation-driven and agile operators, most SMEs may be challenged to be paradox/new economy pathology compliant. That said, all hope is not lost. Why? SMEs can partner with capable manufacturing services providers or other unique third-party entities like Xometry  (xometry.com) to meet their on-demand manufacturing needs. Tenarries MCG: Disclaimer TMCG has no relationship with Xometry, and we are not recommending the stock for investment purposes. All investors are advised to conduct their own independent research into Xometry stock before making a purchase decision. In addition, investors are advised that past stock performance is no guarantee of future price appreciation.