Top 10 2020 Manufacturing Trends Bottom Line: 2020 manufacturing trends are driven by manufacturers’ strong confidence in their ability to deliver high-quality products that earn repeat orders while delivering excellent customer experiences. Their most anticipated growth barriers are chronic labor shortages, pre-emptive competitive price wars, and early signs of sales cycles slowing down. Running Lean While Focusing On Keeping Margins Strong Running lean and struggling to find the employees they need to keep up the pace…
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Tax Compliance Challenges In Today’s Dynamic World
Tax Compliance Challenges In Today’s Dynamic World Manufacturers report several common challenges to properly and efficiently filing, remitting, and reporting on taxable transactions. Tracking tariffs, tax rates, and product taxability rules across jurisdictions staying tax compliant while growing the bottom line, and managing exemptions in preparation for the inevitable audit are a few that frequently top the list. These days, global trade wars, shifting supply chains, and increasing pressure to find new avenues for growth…
Sustainable Manufacturing is the New Key to Profitability
Sustainable Manufacturing is the New Key to Profitability Just a few years ago, sustainability in manufacturing was seen as a nice-to-have. Today, sustainable manufacturing is becoming a critical factor in a manufacturer’s ability to compete and maximize profitability. This was driven home to me in a recent discussion with a Gartner analyst. She noted that the research firm used to give sustainability a weight of 10% in scoring the top 25 manufacturing companies; this year…
What Is Supply Chain ERP?
What Is Supply Chain ERP? A Supply Chain ERP system orchestrates and optimizes forecasting, pricing, procurement, sourcing, and inbound product quality levels across the many supplier relationships manufacturers have, providing real-time accounting and financial reporting of each transaction. Supply Chain ERP systems provide Electronic Data Interchange (EDI) integration support, inventory control and management, inventory and order-level financial reporting, distributed order management, warehouse and distribution reporting, and analytics and integrated asset tracking systems. Defining Supply Chain ERP Manufacturers are improving delivery…
How To Improve Your ERP Quoting And Pricing Results
How To Improve Your ERP Quoting And Pricing Results By improving ERP quoting and pricing management for every dealer, distributor, and reseller they sell-through manufacturers can get more than their fair share of channel sales and margins. It’s possible to expand earnings by 50% on slight increases in volume when pricing is consistent channel-wide. McKinsey’s latest research on the topic, Pricing: Distributors’ Most Powerful Value-Creation Lever, shows how the highest performing distributors use pricing to create value.…
10 Signs A Food & Beverage WMS Needs Help
10 Signs A Food & Beverage WMS Needs Help Bottom Line: Food and beverage supply chains are the fuel that drives the growth of every food & beverage manufacturer today. An integrated, scalable, secure Warehouse Management System (WMS) can assist in transforming supply chain efficiency into internal process performance gains while ensuring accuracy, compliance and cost control. Keeping A Food & Beverage WMS Current Is a Continual Challenge The most common reason a food & beverage WMS will…
How Machine Learning Is Redefining Supply Chain Management
How Machine Learning Is Redefining Supply Chain Management Bottom line: Machine learning makes it possible to discover patterns in supply chain management data by relying on algorithms that quickly pinpoint the most influential factors to a supply networks’ success, while constantly learning in the process. Discovering new patterns in supply chain data has the potential to revolutionize any business. Machine learning algorithms are finding these new patterns in supply chain data daily, without needing manual intervention or the…
10 Ways Machine Learning Can Close Legacy ERP Gaps
10 Ways Machine Learning Can Close Legacy ERP Gaps Capitalizing on new digital business models and the growth opportunities they provide are forcing companies to re-evaluate the role ERP plays in their manufacturing strategies. Made inflexible by years of customization, legacy ERP systems aren’t delivering what digital business models need today to scale and grow. Legacy ERP systems were purpose-built to excel at production consistency first at the expense of flexibility and responsiveness to customers’ changing requirements.…
Making Food & Beverage Supply Chains Pay
Making Food & Beverage Supply Chains Pay Bottom Line: High performance, integrated food & beverage supply chains are the lifeblood of successful manufacturers in the industry, enabling them to flex in response to customer demand. When production lines are running smoothly, product quality is up, and customer delivery dates are being met it’s a sure sign the supply chain management, inventory, and warehouse management systems supporting the shop floor are tightly integrated. By using supply chain systems…