“Creating a better world requires teamwork, partnerships, and collaboration, as we need an entire army of companies to work together to build a better world within the next few decades. This means corporations must embrace the benefits of cooperating with one another.”
Working in solos is a thing of the past. The world today is more about collaboration, be it in communication, interaction, or business value generation. The world is flat and connected. Being in the current is important for an organisation of any size. Getting to know the right partners to collaborate and derive value from it forms the main pillar for businesses today. You can no more be left out of technological cooperation.
Businesses can be left behind if they don’t embrace collaboration whether in communication or processes. If organisations do not connect, they tend to miss out on opportunities and scaling the business to service customer needs. It is neither feasible nor possible to sustain development unless there is a connected approach to business. An organisation simply cannot build every technology and every process in a silo. It is quite impossible to get through it and it is a huge overhead on the organisation. It is better to identify partner companies who are good at a specific technology or process, identify the workable model and work with it rather than being left out.
Collaboration also brings with it immense advantages in the sense, when things are connected and talking to each other, information exchange and availability is more specific and dependency is reduced. Process automation can be a part of the collaboration which can deliver value to businesses especially when we are talking about Just in Time inventory in the manufacturing sector. If it was not for coordination between different parts of the processes being handled by different companies, JIT would simply fail.
An important use case for sustainability is the backhaul for trucks. For a long, organisations have been working in silos while losing money on one side of the truck journey with empty miles. A collaborative model between manufacturing organisations can benefit both parties while contributing to the profitability of the organisations and the sustainability of the ecosystem.