Manufacturers have never shied away from facing challenges. The early part of the twenty-first century has already presented some problems that no one could have anticipated, such as the financial crisis in 2008 or the coronavirus global pandemic. Technology forms the basis for the challenges manufacturers are facing in 2021. They must re-evaluate their manufacturing operations management strategy to reach their goal of staying competitive.
Business Automation and Software Blog
Now that we are finally moving toward a post-pandemic business environment, it is not the time to sit back and congratulate yourself for making it through a challenging time. The COVID-19 pandemic saw consumer practices change dramatically. People have been isolating themselves to avoid becoming ill, and the demand for goods has only increased. Shoppers turned to online retailers and expected that their purchases would be delivered to their doorstep quickly. It has proved challenging to respond to heightened customer demands. Stock-outs and shipping delays have been all too common due to heightened demand.
Topics: warehouse management strategy
How much thought have you given to your warehouse management strategy and to scaling fulfillment services as the economy recovers?
It’s worth thinking about the warehouse management strategies and tactics used to scale fulfillment by many big companies throughout the country in the wake of the coronavirus pandemic that is starting to loosen its grip. Everyone from e-commerce giants to local mom and pop companies found themselves struggling with fulfillment issues as demand exceeded supply.
Topics: warehouse management strategy
Baby boomers are retiring en masse, and the manufacturing sector is hungry for new talent. Millennials may just be the answer to combat the continuing manufacturing labor shortage. A Deloitte report showed that millennials, who are already emerging as leaders in technology and other industries, will comprise 75 percent of the global workforce by 2025.
Topics: manufacturing labor shortage
Manufacturers are in the business of producing goods that consumers want to buy. The best possible scenario for this type of business is when the products can be made at a reasonable price so the company can show a profit when they are sold to a wholesaler or a distributor. Green products are a definite consumer favorite, with many buyers weighing a product’s environmental impact before making a purchase. Sustainable manufacturing is an important factor in the circular economy since consumers have shown a distinct preference for these products.
Topics: sustainable manufacturing
Manufacturers are no different from any other type of business. They need to manage their cash flow properly if they are going to keep the company afloat. The global pandemic has only added to the stresses that owners and managers have faced recently. They are competing against other manufacturers at home and worldwide and the cost of raw materials is continuing to increase, making it more challenging to keep costs under control. Customers continue to expect high-quality products at a reasonable price. Manufacturing accounting must be a priority if the goal is to control costs and boost cash flow.
If you are the owner or a manager of a manufacturing business, you know that keeping your workflow processes running smoothly is a key component in meeting your obligations to your customers and keeping productivity at an acceptable level. Without a steady stream of orders, it will be challenging, if not impossible, to keep the business operating successfully for very long. An enterprise resource planning (ERP) system can provide several benefits that can help a manufacturing business run more efficiently, keep costs in check, and even boost profits.
Topics: ERP System
Karl Schroeder, the futurist and science fiction writer, said, “Foresight is not about predicting the future, it's about minimizing surprise.” Business owners know they can’t just fly by the seat of their pants when making decisions; they need good information to evaluate their options and make the best choice based on the facts at hand. The best ERP software options are all about connecting processes so executives and managers get a complete view of the business under one system.
Topics: best ERP software
According to a Statista report from 2018, as many as 21 percent of supply chain professionals say their biggest organization challenge is visibility. Emerging markets are complex, boasting millions of outlets, thousands of distributors, and billions of potential transactions. This leaves manufacturers managing a vast network of small and big distributors while also managing the sometimes-conflicting needs of channel partners.
Topics: distribution management software
According to a global survey conducted by SYSPRO to understand how manufacturers and distributors handled the operational shifts brought on by COVID-19, more than half were impacted by supply chain disruptions. In addition, 47 percent of businesses were unable to function due to reliance on their on-premises operational staff. And nearly a third felt that their business systems did not provide them with the availability and accessibility to manage the changes the pandemic introduced.
Topics: manufacturing systems