2017 is going to be an exciting year for manufacturing companies. Technologies that would have seemed impossibly hi-tech a few years ago, are already being used in a few cutting-edge factory floors today. While most manufacturing companies are already leveraging technology on some level to organise their day-to-day operations, the next step to make data and technology work for you is to connect your processes and gain a centralised view of the manufacturing process. An ERP software enables this and more.
Consider these trends and start planning your manufacturing strategy to gain a competitive advantage:
Leverage cloud technologies for better process insights
Modern manufacturers are using manufacturing ERP systems that are cloud-enabled to connect employees, customers, partners, and machines together, thereby creating new ways of doing business. Never has there been a better opportunity for innovative manufacturers to become part of the connected economy quickly and economically, driving their company’s growth and exceeding their customers’ expectations purely due to the power of ERP software.
Build long-term relationships by prompt supply of products
With the growing popularity of long-term sub-contracting models within the manufacturing business, the industry must adapt continuously to align with what brings value to the customer. Thus, businesses will need a manufacturing ERP system that is agile enough to support the rapid creation of new products and services. A manufacturing ERP solution that has unified ‘create and quote’ capabilities will help customers to easily order products, and help businesses let the customer know when to expect delivery.
Also Read: 5 benefits of an ERP software for the manufacturing industry
Use of real-time analytics for competitive advantage
Several manufacturing businesses have already begun to use real-time analytics, such as use of IoT technology on the factory floor and throughout the supply chain. Cloud-based ERP software plays a critical role in helping decision-makers use this real-time data at every stage in the manufacturing and sales cycle. Adoption of cloud ERP as well as increased machine learning, use of IoT sensors and advanced business intelligence makes it easier for manufacturing companies to interpret and act on data.
In 2017, we predict that manufacturers will create a digital net, with ERP software acting as the ropes that connect different elements throughout an enterprise, from sensors on the shop floor to dashboards, analytics software, and customers’ mobile devices.