ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Jabil (NYSE: JBL) today announced enhancements to its suite of industry-leading procurement capabilities to help global organizations minimize risk, optimize production and achieve cost leadership. Additionally, the company introduced its new Radius Digital Strategy Practice to assist customers in navigating complex digital transformations while creating business value and brand differentiation.
“The digital transformation of manufacturing is causing a ripple effect worldwide as companies struggle with demand and supply volatility, including shifts in supply ecosystems and shortening product lifecycles,” said Don Hnatyshin, SVP and chief supply chain and procurement officer at Jabil. “Our ability to quickly and effectively address these critical business challenges is bolstered by digital supply chain and procurement capabilities that deliver much-needed visibility, real-time intelligence and real-world actionable insights.”
According to a 2018 digital transformation survey by Dimensional Research of more than 300 manufacturing executives, the quickening pace of digital transformation creates issues despite significant investments. While most respondents reported increased funding for digital solutions, nearly half of the survey participants acknowledge persistent challenges due to inadequate digital expertise and mismatches between existing toolsets and organizational capabilities.
Designing a Digital Future
To expedite customers’ digital journeys, Radius Innovation and Development, a Jabil product ideation and development business, has launched a new Digital Strategy Practice. Blending creative, customer-centric insights with quantitative business analysis, Radius answers the questions of “who, what, why, when and how” digital strategies can benefit new or existing businesses. A cross-functional team of experts evaluates various alternatives at any stage of a company’s digital transformation.
“Our new Digital Strategy Practice guides customers through the constant cycle of creating, monetizing and defending business value,” said Heather Andrus, Senior Director of Strategic Development at Radius Innovation and Development. “We can enable companies to evolve their products and experiences by adding a digital component, build or expand their digital ecosystems and explore opportunities to monetize Internet of Things (IoT) data, while benefiting from cutting-edge solutions, including advanced automation, 3D printing and machine learning.”
Procurement Solutions for the Digital Age
Effective procurement strategies are essential to delivering success in the digital economy. Jabil’s Intelligent Digital Supply Chain encompasses value-added procurement insights to address spend visibility across the supplier ecosystem. With its Procurement Intelligence Platform, for example, on-demand access to Jabil’s global commodity management expertise can alleviate major sourcing problems in the supply network, which is facing the tightest supply conditions in over a decade. With hundreds of procurement experts around the world, leveraging trusted relationships with more than 27,000 qualified suppliers, and a $15 billion-dollar plus spend, Jabil helps customers win in the digital economy by balancing supply assurance and price using advanced analytics and supply trend models.
Together, Jabil’s procurement solutions and Radius’ multi-disciplinary Digital Strategy Practice empower customers to benefit from:
- Effective digital transformations with accretive business value
- Development of new business models and revenue streams
- Faster time-to-market with product innovation breakthroughs
- Improved customer experiences, increased profitability and stronger competitive differentiation
- Flexible and scalable cost models that align with changing business needs
- Increased supply chain and manufacturing agility, efficiency and cost leadership
- John Picard, Vice President, The Ray
“As the world’s first regenerative highway project, we are building connected roadway reflectors designed to improve the health and safety of transportation infrastructure across the US, and Radius is our digital partner. By connecting previously analog reflectors and lights through solar-powered sensors to the cloud, we are creating a platform to make safer roads. Radius’ expertise has made it possible by assessing feasibility and now architecting the digital hardware and software components required to deliver on the vision.”
- Virginia Howard, Research Director, Supply Chain Research Group, Gartner
“Supply chain leaders have always been under pressure to streamline processes, improve quality, keep inventory low and reduce delivery times while keeping costs down…Digital technologies are enabling and promoting changes that have a larger impact, greater unpredictability and increased frequency… Now, more than ever, high-tech supply chains require digital skills and methods to deliver customer-driven solutions in an on-demand fashion.1
Jabil (NYSE: JBL) is a product solutions company providing comprehensive design, manufacturing, supply chain and product management services. Operating from over 100 facilities in 29 countries, Jabil delivers innovative, integrated and tailored solutions to customers across a broad range of industries. For more information, visit jabil.com.
1 Gartner, “High-Tech Industry Outlook, 2018: The Imperative for Reliable Change is Now,” [ID G00352026], Virginia Howard, April 11, 2018