Let’s say there’s a five-year-old midsize biotech company. We’ll call it MidCo, and they specialize in the automated testing of blood and tissue samples. The bottom line boomed during MidCo’s first five years in business. However, new startup competitors produce more advanced products that can leverage technologies such as artificial intelligence, and MidCo’s competitors offer their solutions at much lower prices. In other words, MidCo is being disrupted.
MidCo’s IT department can’t keep up with the changes needed by R&D and marketing to build more advanced and better-optimized testing technologies at a better price. Also, several of MidCo’s patented products can’t move into production since their existing cloud-based systems have too many limitations. Their systems will only integrate with a few suppliers, they cannot leverage a third-party parts producer, and they cannot access an optimized supply chain to automatically work around parts shortages or change suppliers.
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