Convergence is taking data to the next level
Today ’ s manufacturers are operating in the digital age , but many of the hurdles they face are decades old . One of the biggest is something almost everyone can relate to : organisation .
Manufacturing operations , from the biggest industry leaders to SMEs , require a lot of complex coordination . Products must be designed , developed , tested , produced , packaged and shipped in a continuous , reliable cycle .
Maintaining production is critical , so manufacturers must be ready to respond to the unpredictability of global supply chains and their subsequent impact on demand and product supply . To remain competitive , most embrace digital transformation , juggling implementation , training and experimentation with the need to avoid costly downtime .
With all these moving parts , missing the organisational mark can be devastating . Increased costs , obsolete inventory , production delays and reduced customer satisfaction are just a few of the consequences manufacturers can face . Average carrying costs alone run between 15 % to 20 % of inventory value but can reach 75 % in some industries .
Addressing these challenges requires the extensive resource , data and inventory insight provided by Enterprise Resource Planning ( ERP ).
118 October 2024