Suppose there is a medium-sized biotechnology company that is five years old. We’ll call it MidCo, and they specialize in automated testing of blood and tissue samples. Profits boomed during MidCo’s first five years in business. However, new competitors are producing more advanced products that can take advantage of technologies such as artificial intelligence, and MidCo competitors are offering their solutions at much lower prices. In other words, MidCo is disabled.
MidCo’s IT department can’t keep up with the changes R&D and marketing need to build more advanced and better testing technologies at a better price. Also, many of MidCo’s patented products cannot go into production because current cloud-based systems have too many limitations. Their systems will only integrate with a handful of suppliers, they can’t take advantage of a third-party parts product, and they don’t have access to an optimized supply chain to automatically work around…
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