Manufacturers are under continuous pressure to produce high-quality products, cost-effectively, and in the time that customers demand. The degree to which a manufacturer satisfies customer expectations determines their success in the local and even global market. In order to maintain and grow the business, manufacturing decision-makers should consider an information management system that integrates business needs with the manufacturing process.
Before we define ERP, let us start with the acronym which stands for Enterprise Resource Planning. We can define ERP as enterprise software that helps organizations manage their day to day business requirements. At a fundamental level, ERP brings together customer management, human resources, business intelligence, financial management, inventory, and supply chain capabilities into one system.
In 2020, organizations have become much more aware that applications can run in the cloud. It is no longer taken for granted that all your business software has to run on a server in your offices. The argument against cloud software that goes “if it’s not on-premise then I don’t have control over it” has been invalidated by the emergence of huge companies that run all their applications in the cloud (think Amazon, General Electric, United Airlines). If the ERP system you use as the backbone of your business can be migrated to the cloud, what do you need to justify making that move?
In the past, the role of the CFO was about ensuring accounting and reporting of past activities and booking transactions appropriately so they could report on what had transpired in the last period (month, quarter, year). Today’s CFOs are more focused on shaping a robust strategic and financial future than on accounting for what happened yesterday.
There is no denying that the Coronavirus pandemic is a disaster for global economies, but could it provide a silver lining for the manufacturing industry in Australia in terms of instigating a revival? Australian manufacturers have become aware of the need to urgently adjust their operational strategies and increase agility while maintaining continuity.
It may feel like steering into a storm, but there are three proactive steps that can be taken to ensure you can navigate safely through to calmer waters.
Reading Time: 4 minutes As governments in Africa navigate their way through the uncertainty of COVID-19, the beneficial role that digitalization can play in economic growth, sustainability and social transformation on the continent have more significance than ever. Even though many industries and leaders have embarked on a digital transformation journey before the current crisis, at SYSPRO we have … Read more
Ways to Ensure your Quotation Process Leads to Profit Every Time
To ensure a healthy bottom line for your Metal Fabrication and Industrial Machinery business, the quotation process must be carefully managed at each step as margins are thin. You can’t afford to have internal operational inefficiencies on top of external competitive challenges. This means critical processes such as quoting, which are tightly integrated with most aspects of your manufacturing business and reflect its overall efficiency, must be sound.
This year, the pandemic has really emphasized and accentuated the need for companies to critically look at business operations. Technology has been an essential component of the process, aiding the mobilization of the remote workforce, and increased collaboration.
The current economic climate is forcing businesses to think on their feet. Besides the requirement to respond to the needs of the pandemic, manufacturers and distributors have also needed to rethink business models to ensure long-term resilience.
