Study Predicts Machinery Market to Hit New Peaks in Current Five Year Period
COSTA MESA, Calif. – May 13, 2014 -- SYSPRO, a provider of best-of-breed, award-winning enterprise resource planning (ERP) software for on-premise and cloud-based utilization, today announced that manufacturers utilizing SYSPRO ERP are well-equipped to handle the predicted high demand for capital machinery.
According to a study prepared and issued by IHS Technology and reported by American Machinist, the demand for machines for a variety of uses will drive a 6.3% annual improvement in revenues this year with continued high growth through 2018. "The improving economic outlook is a key factor in the strong growth of machinery in the coming years," stated Andrew Robertson, Senior Analyst for Industrial Automation.
Joey Benadretti, SYSPRO USA president, notes that those machinery manufacturers utilizing SYSPRO ERP (Enterprise Resource Planning) software are well-positioned to leverage the increased demand for machinery and equipment of all types.
"SYSPRO ERP encompasses all areas of software required by manufacturers, enabling costs to be tightly controlled and products to be tracked through the manufacturing process and along the supply chain," says Benadretti. "In addition, SYSPRO software facilitates communication and collaboration with critical suppliers and customers, supports rapid time-to-market for new products and manages orders and inventory in accordance with the adoption of Lean Manufacturing principles."
SYSPRO USA offers machinery and equipment manufacturers -- from mixed-mode manufacturing to complex collaboration between manufacturers, suppliers and customers -- a comprehensive range of technology solutions at a competitive cost point and in support of Lean Manufacturing:
- Financials -- to help manage capital, track expenses, and assess customer and product profitability
- Contact Management and EDI (Electronic Data Interchange) -- to accurately communicate with a bewildering array of global suppliers
- SOA (Service Oriented Architecture) -- to enable rapid integration of suppliers', customers' and other business partners' systems
- Planning and Scheduling -- to manage the intricate parts scheduling, fabrication and assembly process of unique items
- Supply Chain Management -- to successfully orchestrate the movement of parts to support Lean Manufacturing, minimizing inventory carrying costs
- Full traceability -- through all transactions, enabling the reduction of inventories and improved capacity utilization, including Lot Traceability to monitor performance of suppliers, engineering changes and facilitate recalls
- Quality Control -- to minimize reverse logistics, warranty repairs and other costs
- Easy integration with computer aided design and manufacturing systems (CAD)
- Engineering Change Control -- to augment or eliminate the paper trail that traditionally accompanies changes to product design data
- Factory Scheduling -- to facilitate the management of the supply chain, from planning and execution to the identification and remediation of potential problems
- Assets Register -- to address the asset intensive nature of the industry by providing planning and control tools for capex expenditure and asset depreciation.
A special report from Vital Analysis also discusses the ability of SYSPRO ERP to meet the needs of the equipment and machinery sector. Vital Analysis President Brian Sommer writes, "SYSPRO’s offering in the machinery & equipment sector fits the bill well. It supports a variety of differing business needs in this space. More importantly, it helps all producers become operationally excellent while developing other key strategic competencies. . . The SYSPRO product line is a very complete product line for this space. It possesses, front to back, a set of applications to manage the initial customer contact through order processing, manufacturing and post-production service."
SYSPRO is one of the longest standing and largest independent, international providers of ERP systems for mid-market manufacturers and distributors worldwide. SYSPRO has for more than 30 years delivered on its promise to provide thousands of its customers globally with the tools required to effectively operate and compete. Backed by a truly dedicated and professional team of employees and partners around the world, the company’s ability to innovate and develop technologies based on the needs of customers is one of the reasons why SYSPRO enjoys one of the highest retention rates in the industry.