An interesting study from the Delphi Group asked 23 global manufacturers questions about the impact of enterprise resource planning (ERP) on supply chain management. Three findings topped the list of results:
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From offices to manufacturing centers, tracking, and monitoring fixed assets can be time-consuming. In the olden days, many office managers kept spreadsheets of fixed assets that includes desks, chairs, computers, forklifts, and more.
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The decision to make the leap of faith into what seems like many jumping on the cloud bandwagon, would seem daunting at first. Of course that would mean having to replace your current on premise solution. However, despite the unnerving changeover, many companies have found the capabilities that cloud offers outweigh the adoption process.
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ERP or enterprise resource planning adds considerable value to manufacturing companies. With the click of a button, they can get access to instant, real-time reports on all facets of their business. From operations to warehouse management, the ERP system of today offers a view into the heart of the business, providing vital data for strategic planning and implementation.
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Your inventory is not cheap. From the initial purchase from your suppliers to the carrying costs involved in storing and processing each item in the warehouse, the costs associated with inventory management add up quick.
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Companies seeking to maximize profits must keep in mind many things. For manufacturers, it’s not just the cost of raw materials that impacts profits. It’s the costs of labor, taxes, shipping and more.
Manufacturers must also weigh the pros and cons of the location for their operations very carefully before making the decision to set up operations or relocate. For example, shipping costs can steal profits away from thin margins.
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Manufacturing is entering its fourth phase or stage, and it’s time to acknowledge that it’s changing for good. The world of manufacturing got its start during the first Industrial Revolution, when machines made everything from producing cotton to weaving textiles easier. The second Industrial Revolution found manufacturers like Henry Ford incorporating mass production techniques into their factories to quickly and inexpensively bring goods to the public.
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Who is the most important person in your company? The CEO? The person who makes the coffee each morning? It’s neither of these roles, critical though they are to both leadership and morale. It’s the customer, and without close ties to your customers, you run the risk of manufacturing products that nobody will buy.
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