The manufacturing industry may be facing some headwinds by complexity, ambiguity and uncertainty in terms of fluctuating raw material prices, market volatility, labor disputes, understanding customer and market needs and keeping up with inaccuracies in scheduling and Lot traceability. But, this industry is heading fast in the midst of technological renaissance and is transforming the processes, systems and the outlook of their manufacturing business.
For a manufacturing company of any size to survive and thrive, its operations have to be both lean (cost competitive, efficient and responsive to market demands). So, if you are in a manufacturing business, SAP Business One will be the one you want to depend on.
Let’s have a look at the some of the top challenges manufacturers faces and how SAP Business One can address them.
Maintain lean inventories and manufacturing process
When it comes to managing inventory, it’s imperative to find a balance between having extra or not enough. Though items like lots, pallets, racks, sections, and warehouses may give good insights on inventories, there is still a chance of discrepancy. Of course, systems and tools like the ledgers and spreadsheets can be a better way of tracking the inventories, they still can’t give the precise insight in some cases. SAP Business One provides critical information in this regard. It provides comprehensive visibility and control in tracking the movement of inventories from one place to another.
Staying Compliant and constant need of improving efficiencies
Today, all companies need to follow a varied set of regulations imposed by the Government. Hence, they are in a search of better ways to efficiently account for and manage the increasing number of rules and regulations. This is where SAP Business One helps in.
Ranging from methods to finance, compliant manufacturing to operational management, SAP Business One offers a range of flexible options to help manufacturers stay compliant and progress ahead.
One important thing to note is when it comes to product launch and peak sales of the manufacturing unit, there should not be much difference. SAP B1 informs decision makers on the existing stocks and keep a tab on the market trends and demand changes to avoid over-stocking. Similarly, once production is scheduled SAP B1 guides the procurement team to procure the right amount of inventory to avoid stock outs. Such practices minimize production delays.
Better evaluation and monitoring of risks
The manufacturing unit tends to face a major challenge all the time- It faces the obstacle in identifying the gaps, risk areas and delays. Moreover, this makes it extremely difficult for organizations to ensure product safety and maintain product integrity.
With the help of SAP B1, companies have access to all the information they need, which helps them to quickly recognize problems with respect to raw materials, supplies and in manufacturing, quality control and packaging.
Running a smooth business nowadays is not enough for manufacturing companies, business owners need to understand and monitor the profitability of their business in real-time to move ahead of the competition and mitigate all business and technology challenges. SAP Business One is enabling manufacturers to meet higher performance expectations on turnaround time, reliability and predictability.