When Operational Efficiency Drives Your Competitive Advantage, the Difference Between Success and Failure Is Surprisingly Narrow
In this series on NetSuite, Bryan Rhody discusses the fine line between success and failure. The right infrastructure to support operational efficiency is critical to the success of your business.
In the recently completed 2022 Beijing Olympics, Germany completed a rare platform sweep in the two-man bobsled as its three teams won the gold, silver, and bronze medals. It was a historic achievement, but one element of the race that went largely unnoticed was just how close most of the other finishers were to taking home the medals. The fourth-place team from Switzerland finished a quarter of a second behind the Germans, and the next six teams were within a second of the Swiss team. This is actually the case in most competitive sports: the margin of victory for the world’s greatest athletes is tiny, and hundredths of a second can separate an entire field of competitors – and make or break who wins a medal. Athletes that compete at this level are in constant pursuit of anything that will give them a competitive advantage.
While many businesses do not manage their operations down to the hundredth of a second, many organizations are looking for strategies and tactics that will create a distinct advantage over their competitors. Even a seemingly microscopic improvement can make all the difference as it does in sports. An overarching theme in gaining a competitive advantage is through efficient and effective movement. The most precise and technically sound technique typically yields the best results. It is no different from today’s business operations – efficiency, consistency and effectiveness are paramount.
Today’s high-growth companies experience efficiency challenges the moment they need to scale or pivot quickly. This can happen with the launch of a new version of their product, a foray into new markets, diversification of their supplier relationships or launching alternate channels for distribution. If these changes are not executed perfectly, they simply will not succeed.
It all comes down to turning great ideas into successful businesses. That is because many companies focus on the operations side of the business. They often give little thought to the infrastructure or related processes and systems that are required to run a business end-to-end. This is where automation can play a key role in putting theory into practice and creating operational excellence.
So, how can your company increase its operational efficiency and effectiveness — and get out of the manual workaround rut? Successful high-growth companies have been able to bypass these challenges by implementing a single-source system like NetSuite. NetSuite’s core functionality features automated workflows, dashboards and reports already built in, which empowers companies to leverage and use the data they need to gain a competitive advantage. Moreover, when you layer in NetSuite’s advanced capabilities with inventory, manufacturing, distribution, professional service automation and CRM, you have a system that can both run your entire business and optimize your operational efficiency and effectiveness.
NetSuite gives you the visibility and control to make the right decisions in real-time. Its flexibility lets you do it all, quickly and easily, whether you are looking to scale up, spin off or adopt new business models. With every upgrade, your configurations and customization migrate seamlessly.
In summary, incremental changes in operations can mean the difference between success and failure in business just as much as this is true in sports. Having the right infrastructure is key to running a business end-to-end, and automation can play a role in creating operational excellence. Functionalities like those found in NetSuite can help your business gain a competitive edge to be successful.
If you want to learn more about how NetSuite can help you, please contact Bryan Rhody.
Subscribe to Our Thought Leadership
Did you find this article helpful or interesting? Sign up now for periodic industry news and insights curated by BPM thought leaders, sent directly to your inbox.