Many information challenges will need to be addressed by businesses to take advantage of the commercial prospects available during the next twelve months.
Fremont, CA: While the COVID-19 pandemic hindered the semiconductor industry at its worst, it is already on the mind and can look forward to a year of solid growth. According to some estimates, change will be between 12 and 14 percent in 2021, but trading conditions will remain complex and uncertain.Many information challenges will need to be addressed by businesses to take advantage of the commercial prospects available during the next twelve months.
- Market uncertainty places the spotlight on digital experience
Demand for semiconductor technology will continue to be influenced by the changes in people's working habits in recent years. Forward-thinking semiconductor firms will aim to predict which products would generate the most demand and allocate R&D resources accordingly.
It necessitates a more excellent grasp of the client and the working environment, which is no small challenge for a traditionally engineering-driven industry. Digital Experience (DX) equips one's staff with the tools they need to connect better, communicate, and engage with customers, while also assisting them in providing that experience.
- R&D innovation revolves around content collaboration and sharing
Companies that maintain a strong focus on R&D and innovation will likely outperform their competitors, as the semiconductor sector is well aware. According to the report, 74 percent of semiconductor executives believe the stakes for successful innovation have never been higher.
The need to ensuring that the correct persons have access to up-to-date, accurate material at the right time has never been greater.
- Cloud provides the foundation for growth.
The transition to the cloud for semiconductor companies initially started to supplement processing done on-premises, adding extra processing power wherever necessary. Today has developed into using the cloud as the primary location for that data, processing, and storage. Meanwhile, organizations are using the cloud to capture data on the real-world use of products to feedback into product development.
Enterprise Information Management platforms like OpenTextTMDocumentumTM will help businesses realize the total value of their content, including the ability to analyze it for insight and action.
- Digital workforce productivity requires intelligent automation.
For manufacturing workflows, the highest levels of automation are now a need. To eliminate manual processes and build settings where humans and machines interact to boost operational efficiency and safety, organizations will turn to various techniques such as digital process automation, RPA (Robotic Process Automation), AI, and machine learning.
- Supply chain resilience drives the growth of digital ecosystems.
The construction of digital processes for semiconductor companies based on the timely and effective interchange of vital business documents. Companies will need to diversify their supply chains in 2021, creating digital ecosystems that connect suppliers, partners, and customers to increase resilience and better handle demand variations.Organizations will increasingly use multi-enterprise Supply Chain Commerce Networks (SCCN) to locate, onboard quickly, and trade with new suppliers to assure the resilience and serve entirely new product innovations.