Solutions to 5 of Manufacturing's Biggest Pain Points
The world of manufacturing is constantly changing, causing manufacturers to face different challenges and concerns every year. With a dated ERP system, managing and adapting to these pain points can be difficult, however taking advantage of modern cloud based manufacturing ERP technology from vendors like QAD can help ease your pain and adapt to whatever new curveball the industry may throw your way. Below are some possible solutions to manufacturing's biggest pain points, so that even without QAD's Cloud ERP, you can still adjust your manufacturing processes to stay ahead of the competition.
Complying with Industry Standards and Regulations
For manufacturers especially, industry standards and regulations are updated frequently, making each year a new adventure in creating compliance reports within your organization. Manufacturers are viewed under much higher scrutiny from product safety to disposal and reclamation procedures, so what exactly is the best way to go about complying with industry standards?
You could manually keep track of these changes and try to add customizations to your ERP system to ensure that the correct data is being recorded. Or, you could implement an automated Manufacturing ERP solution like QAD that has built in Lot Tracing Workbench modules to allow for completely transparent quality traceability across your value chain, including unique custom item specifications, potency and more through the entire process from supplier to customer.
Producing Quality and Innovative Products
With technology manufacturing especially, it seems like just as one amazing product is being released, someone else releases something better. It's tough to consistently turn out quality and innovative products to help you stand out among the competition.
That being said, it's important for manufacturers to be strategic about what they want to release when. It's better to release a quality product rather than develop a bad reputation for chasing trends in the industry without turning out a high quality product. Instead of leaving new product ideas to chance, work to be more systematic about managing your innovation. Try maintaining a steady stream of product ideas and innovation to weed out the quality upgrades from their less qualified counterparts.
Managing inventory levels in a cost-effective and revenue-driving manner can be difficult, even for the most experienced manufacturer. Without access to an effective manufacturing planning software to help automate these inventory control processes, properly managing your inventory levels can be quite the challenge for manufacturers. Thankfully, this common pain point can be solved with an automated ERP software like QAD so that you don’t have to lose money in your stocked inventory.
QAD’s inventory control capabilities allow manufacturers to automate their processing based off of previous purchasing trends and can even set raw material orders to automatically renew when needed. There is no worse feeling than not having all of the materials you need to complete an order or having to pay for expedited shipping costs. With an automated inventory control module, inventory control becomes less of a pain point and more second nature.
Remaining Competitive in a Global Marketplace
Remaining competitive in a global market is a common pain point that many manufacturers face, especially with the looming possibility of outsourcing hanging over your head. Often times manufacturing in the United States or Canada can be rather costly, however choosing to manufacture in the US does not necessarily mean that you will fall behind your competition despite potentially higher costs. Be aware of these costs and strategically planning other factors where you can cut prices is a good place to start, but ultimately your manufacturing businesses success relies on your customers loyalty.
Maintaining a Loyal Customer Base
Maintaining a loyal customer base can be seen as a pain point for some manufacturers just because of the growing competition that is constantly knocking on the customer pool with promises of lower prices or better products. That being said, for many manufacturers, customers like familiarity and will remain loyal to a company that treats them as if they are valued. Taking the time to understand your customers and what their needs/wants are will pay off in the long run, especially in a world where social media is so powerful. Connecting your CRM system to your social media accounts gives users the ability to respond and react to customer feedback instantaneously, connecting with this generation of buyers as well as creating a positive reputation for your organization.
If you’re experiencing any of these common manufacturing pain points in your organization, Logan Consulting can help. Your Chicago based QAD partner has the experience and the expertise that you need to target many of your complaints as well as highlight your business's assets. If you’re considering QAD’s advanced ERP options, contact us here for an assessment to help determine if QAD is your best fit.
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