Webinar Abstract 
To remain competitive in our modern fast-paced engineering environment companies are challenged,not only to leverage the latest technology to their processes and engineering tools in product and process development, but they are also being tasked to re-invent themselves as a business. Companies can no longer afford to develop products in a “vacuum” but must now interact across well defined“silos” of subject matter experts during product development, market introduction as well as in-service to retirement. In our modern connected world, to properly utilize virtual engineering, companies must be able to adopt methods and processes that enable technologies such as the Internet-of-Things (IoT),
Digital Twin, etc. Systems Engineering thinking and the enablement and deployment of the latest best practices and solutions in this space are crucial for the successful development of complex systems that have become part of most products in today’s world.

Within companies, it has become apparent that tools alone will not save the day. Tools alone can no longer be the guiding factor for developing sound business processes. Companies need to re-think the way they work and organize themselves. They need to start thinking in terms and order of: Organization/ Culture ► Processes ► Tools. This requires, especially for management, a more active engagement model while at the same time provide an environment for creativity and flexibility for their workers.Traditional methods to run a business are no longer sustainable for the long term. Some critical adjustments must be made to allow for innovation.

In this presentation we will discuss the technical challenges management is currently facing and how they can be addressed in this ever-increasing complex engineering environment.