The aerospace supplier industry is changing profoundly and rapidly. Gone are the days of comfortable, long-term contracts with ample time for delays, quality-related rework and double trouble. Today, the requirements for suppliers have increased due to following trends:
- High demand: surging market demand for product puts strain on capacity and require fast scaling of excellence
- Shorter product life-time: acceleration in product life cycle because of faster technology innovation progress
- Cost pressure: airlines under pressure for profitability hand down the increasing efficiency requirements to the supplier hierarchy
- Lean methods: adoption of manufacturing process methodology along the lines of lean management and six sigma
- Management change: transfer of managers from the automotive industry migrating into aerospace positions
Supplier managers face these challenges and more through need for automation, digitization / Internet of things, changing demographics, market shift to developing countries and more.