The manufacturing industry is not immune to this unexpected and difficult time. The past few months have been tough for all industries especially manufacturing which has come to halt for time being with the novel CoronaVirus. Manufacturers have faced everything from production halt, trade tensions, supply chain volatility, and fluctuating supply and chain demand to an ongoing shortage of laborers going to their hometown.
Even though such challenges could be managed, we were not ready for the uncontrollable and rising challenges that COVID-19 brought. This is the apt time to check the resiliency of midsize manufacturers.
Midsize manufacturers are responding to this pandemic by making strategic business decisions and considering every time opportune to make it right:
The million-dollar question is how are these companies adjusting to this business environment so quickly? The secret sauce of their success comes down to the combinations of 360-degree visibility, transparency, and on-time decision making.
Increase visibility in internal and external processes
Real-time visibility is the basis of small and midsize companies staying in the equation even in this unprecedented time. This pandemic is changing the world so faster that business leaders must keep a close eye on what’s going around in their business? Visibility over their supply chain operations, manufacturing outcome, production bottlenecks, raw material consuming, batch costing, and so much more. Smart leaders also keep their eye placed on any changing marketing dynamic.
This level of transparency and visibility can only be achieved when you have robust software in place. An ERP that facilitates you to check about any detail from almost anytime and anywhere. You can keep a constant tab on production output, quality management, production costing, capacity planning, production control and so much more with a single ERP such as SAP Business One.
Respond quickly to market dynamics
With Mobile ERP, manufacturers can stay informed and take decisive actions at the speed of thought. With everything synchronized at a place, leaders are empowered to mitigate any potential risks, avert possibilities of delay raw material procurement, and keep their stock ready for immediate consumption. SAP Business One mobile functionality facilitates business users to take on new opportunities early to minimize shipments delays, and costs while be in line with demand.
Furloughing employee instead of laying off
Amidst these unexpected times, leading manufacturers are looking at furloughing employees to safeguard their business. With visibility over the entire operations and employee skillsets and experience, businesses can make the best use of smart ERP and deploy personnel to navigate the path of the storm.
A glimmer of hope for manufacturers
The end game of this pandemic is unclear for us for everyone. But we also see glimmers of hope in the future. So, the best approach for manufacturers is to stay agile and gain the competitive advantage of having an ERP in place for unprecedented visibility over their internal and external processes. With the right technology and its usage, manufacturers will survive this tough time and emerge out of it stronger than ever.
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