For the past year, we’ve been asking the question: How do you eliminate downtime? However, over the past few months, we have all found ourselves in downtime that we couldn’t foresee. This is downtime that we have no control over, so rather than asking how it can be eliminated, we should be asking: How do we take advantage of downtime? None the less we have been able to gather thoughtful insights from friends, peers, committee members, and like-minded individuals throughout the Eliminate Downtime journey. This has led to the industry white book, “100 Ways to Eliminate Downtime”. It is the largest co-created collection of insights and stories on the topic of downtime - written by the construction industry for the construction industry. 

The white book is relevant for anyone working in and with the construction industry. The hope is that it will ignite thought, initiate conversation and, inspire humans who want to eliminate downtime. You can download a free copy of the white book, here. 


This Month's Key Questions: 
  1. How can you take the first steps in becoming and ecosystem business? 
  2. How are you planning to learn at scale to better your digital strategy? 
  3. What actions are you taking to mitigate the impact that COVID-19 has on your business? 
 
 

THE IMPORTANCE OF ECOSYSTEMS


HBR: "In a Crisis, Ecosystem Businesses Have a Competitive Advantage"


Adapting your business and opening up new revenue streams can be incredibly difficult. Many organizations are unable to do this because their activities are tied up in standard procedures that need to be followed. However, ecosystem businesses have a great advantage in these times to open up new revenue streams and make quick changes in their organizations. The authors call this “ecosystem advantage.” Achieving this requires constant investment from the organization. This article outlines a few different ways in which organizations can achieve this, and thereby prepare for any crisis that may occur.  
 
 
AI WILL PLAY A KEY ROLE IN THE FUTURE OF BUSINESS

BCG: "The Rise of the AI-Powered Company in the Postcrisis World" 


This article illustrates the importance of AI in the future of business. Especially following the global crisis that is currently occurring. Past crises have shown how the business landscape can completely change. Whether it be the increased importance of e-commerce or a digital shift. Now organizations will need to adopt AI to keep up with the changes. The authors highlight several scenarios and give examples of what a new reality could look like following COVID-19. They then solve these problems through the implementation of AI. The crisis will lead to large changes in the business landscape and will alter our processes and strategies, but it is how we take proactive measures or react to these situations that will decide the outcome. 
 
 
BOLD LEARNING AT SCALE

McKinsey: "Digital strategy in a time of crisis"



This article is a great read for anyone interested in digitization and especially its reiterated importance in times like these. Highlighting not only the benefits of digitization the authors take note that even the top economic performers will need to make further changes in their digital strategies. The importance of learning is not lost here. In fact, learning is one of the keys to being successful in times of crisis. Testing and learning, learning at scale, observing, and focusing on technology will help bring many organizations through a crisis and strengthen their capabilities following the pandemic. This is a must-read, check it out!
 
 
As another month passes, we keep moving forward through the pandemic. The Downtime Index shows growth between weeks 16 and 17. In the latest week we see a 24% increase in machine utilization which brings us 3 percentage points from the utilization in 2019. We are, however, still 17 percentage points from the expected utilization. This growth has led to a strong belief that we will see an upward trend in machine utilization over the coming weeks. Check out the latest Downtime Index, here.  
 
 
Through collaboration and partnerships we can get closer to our goal of eliminating downtime by 2025. 

If you have any great reads, please share them with me at: sb@trackunit.com

- Søren Brogaard, CCO Trackunit
 

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