Until recently, the hiring focus for industrial products firms was on
attracting, recruiting, retaining, and training hardware engineers. However,
the advent and proliferation of advanced technologies will create a demand for
employees who understand traditional hardware, as well as those that understand
software and programming. Several large Industrials have strode more boldly
into this space by setting up software divisions and dedicating themselves to
very different hiring profiles. The ideal industrial products employee of the
future will be one who possesses the ability to work and balance these two
issues—hardware and software.
Another challenge for Industrials is the uncertainty in the energy segment.
The disruption in oil and gas and energy in general has created big questions
for Industrial firms about how (and where) to play in oil and gas and within
the broader energy grid, particularly as there are massive disruptions in each.
Oil and gas prices falling to historical lows in real terms has braked the
growth that the steady expansion of offshore and rapid growth in shale drilling
had generated. Similarly in the broader energy segment, the utility markets are
facing a longer running disruption where power generation and storage becomes
increasingly decentralized while customers have a progressively larger number
of options and can more directly influence demand swings. Like all disruptions,
there is increased risk in choices falling on the wrong side of structural
change, while depressed assets and new stakeholders present the opportunity to
gain access to markets and assets at depressed rates. Industrials need to
sharpen their decision making and strategy logic and ensure choices consider
market insights and the risk posed by a range of scenarios.
Supply chain management has and will continue to be a key issue
(challenge) for industrial products organizations. While many firms have gone
to great lengths over the last several years to increase supply chain
efficiency, a consequence of these efficiency moves has been an increased level
of complexity. Expect to see industrial products firms consolidate in an effort
to better control their supply chain, choosing a better balance of simplicity
and production costs. The time has come for firms in the industry to step
back and re-consider operations and assess if material and labor savings
justify the coordination and oversight costs involved.Our services are most important
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