Recent survey results offer compelling proof points of the power of Value Stream Management. Discover the advantages of having or adopting a Value Stream Management practice in 2023. Credit: GettyImages For many of today’s global enterprises, it’s a struggle to adapt quickly to emerging challenges. With supply chain issues and the impending recession, digital transformation remains a pressing strategic imperative. However, key digital transformation milestones remain out of reach for far too many teams. To make real strides in each of these areas, Value Stream Management (VSM) has emerged as an urgent demand. Earlier this year, Broadcom commissioned extensive industry research to learn how VSM adoption is evolving and which key trends are emerging in 2023. Conducted by Dimensional Research, this survey polled more than 500 IT and business leaders. Respondents came from five continents and represented a wide range of industries. The findings from this survey are now available in a report entitled “2023 Value Stream Management Trends.” We’ll offer critical insights from this report in the following sections. #1. Enterprise leaders are more focused on the customer than ever When asked about their top strategic business focus for 2023, 58% of respondents cited “increasing customer value,” the highest-rated response. This objective was ranked third in a similar survey conducted the previous year. The report’s authors state, “It now seems companies are shifting focus from rushing products to market that risk decreasing customer value with defects, bugs, or quality problems to a clear focus on maximizing customer delight with value and quality.” #2. A disconnect between business and IT is impeding the attainment of key objectives As they look at their challenges heading into 2023, senior leaders can be forgiven for having a sense of déjà vu. More than two-thirds (68%) of respondents say their businesses continued to be plagued by a long-standing issue: the disconnect between software development and business strategy. An even higher percentage of technology teams, 72%, are frustrated by business leaders’ constant changing of business priorities. Since the advent of the pandemic, supply chains have presented challenges for businesses in a range of industries—and supply chains remain the highest-ranked challenge as teams enter 2023. Forty-nine percent of respondents said ensuring their company has reliable supply chains is a top challenge. #3. VSM adoption is widespread and growing Today, the consensus around VSM is nearly unanimous: 92% agree that VSM can help optimize the product lifecycle. Further, 86% have adopted VSM or plan to. By the end of 2023, 60% of organizations will be shipping products using VSM. The survey also revealed that digital transformation initiatives are tightly aligned with VSM. Ninety-five percent of organizations currently pursuing VSM initiatives are also pursuing digital transformation. #4. VSM is delivering significant benefits for digital transformation For teams that have implemented VSM, a vast majority of respondents, 95%, report that VSM has helped deliver key benefits. When asked what benefits VSM has already shown, six responses were selected by one-third or more survey participants. Topping the list were increased transparency (42%), improved organizational alignment (39%), faster delivery of solutions to customers (38%), and enhanced data-driven decision-making (37%)—which can all be integral to advancing digital transformation. The research shows that those building VSM capabilities are seeing an improved ability to measure and track customer value, which, as outlined earlier, is the top strategic imperative for leaders. Conclusion This recent survey offers some compelling proof points of the power of VSM. As we head into 2023, the businesses that have established VSM practices are better positioned to achieve their digital transformation objectives and deliver more value to customers. To learn more, download the report “2023 Value Stream Management Trends.” ______________________________________________________________ Explore ValueOps Value Stream Management, built to manage what you value most. Related content brandpost Sponsored by Broadcom Driving digital transformation success: Serge Lucio's insights on Value Stream Management Navigating the VSM landscape: Strategies for seamless digital transformation—a chat with Serge Lucio, General Manager of the Agile Operations Division at Broadcom By Marla Schimke, Head of Product and Growth Marketing, Broadcom's ValueOps Software Division May 20, 2024 4 mins Digital Transformation brandpost Sponsored by Broadcom How to govern with people-centric planning To succeed with people-centric planning, leaders need to take a different approach to governance. Leaders must produce key metrics and offer the autonomy to determine the best way to achieve those metrics. By Laureen Knudsen, Chief Transformation Officer, AOD, Broadcom May 06, 2024 3 mins Digital Transformation IT Leadership brandpost Sponsored by Broadcom People-centric planning: Fund people, not work By using people-centric planning, you can support funding strategies with current business goals and technological realities. By Brian Nathanson, Head of Product Management, Clarity by Broadcom Apr 16, 2024 5 mins Infrastructure Management IT Leadership brandpost Sponsored by Broadcom Meet digital transformation experts making waves with Value Stream Management Experts explain how value stream management delivers the right mix of visibility, alignment, and efficiency to your digital transformation journey. Learn more today. By Marla Schimke, Head of Product and Growth Marketing, Broadcom's ValueOps Software Division Mar 26, 2024 4 mins Digital Transformation PODCASTS VIDEOS RESOURCES EVENTS SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe