Manufacturers face increased global competition today, along with challenges related to increased product complexity, logistics, offshore production and shorter product life cycles. They also have to adapt to new Industry 4.0 technology requirements in most aspects of their businesses. It’s a lot to deal with, especially when you consider that manufacturers should ideally be allocating the lion’s share of their attention to designing great products, not operational technologies.
Solutions like Acumatica Manufacturing Management provide the tools you need as a manufacturer to adapt to changes in the sector without getting distracted from your main work. With that in mind, here are nine ways you can leverage this new generation of manufacturing software to drive growth in the digital economy.
#1 – Drive Growth through Manufacturing Efficiency
By eliminating inefficiencies in the manufacturing process, companies can lower costs and compete globally. Acumatica’s Manufacturing Edition uses artificial intelligence and machine learning to automate processes to save time and improve data accuracy. The solution also uses demand forecasts and materials requirement planning (MRP) to optimize inventory levels, provide insights on MRP exception messages, analyze cost and actual cost variances and maximize capital equipment.
#2 – Streamline Processes with Connected Supply Chains
Acumatica’s Manufacturing Management solution includes an embedded customer relationship management (CRM) system. This is essential today, as customer engagement has become a non-negotiable success factor in the marketplace. The CRM system offers a complete view of customers, dealers and suppliers. Keep track of invoices, order histories, estimates, quotes, contact information, and opportunities. When paired with Acumatica’s Commerce Edition, companies can grow B2B and B2C online sales.
#3 – Generate More Leads and Close More Business
While selling more products and services has long been the fastest path to growth, the increasingly complex nature of products has made it challenging for manufacturers to improve sales in this traditional way. Acumatica addresses this difficulty by streamlining the estimation process for new products or variations of existing products. It also allows for more effective inventory management and automated marketing. As a result, manufacturers can spend less time converting quotes to orders. They can also drive more business opportunities with self-service portals for customers, dealers and distributors.
#4 – Provide Exceptional Service
Today’s leading manufacturers are known for their excellent customer experience. Customers often choose suppliers based on services beyond the initial product offering, such as installation, repair, and maintenance. Acumatica’s Manufacturing Management solution helps companies provide exceptional service through a suite of field service applications, a service and support case management system, and preventative maintenance coordination for internal assets.
#5 – Optimize Inventory for Maximum Profits
Avoid costly delays in customer shipments, potential spoilage, unnecessary rush order costs and scheduling problems by optimizing inventory levels, automating mundane processes and implementing just-in-time strategies. Inventory management, material planning and warehouse and shop floor automation are included in the Manufacturing Management solution. They eliminate costly data entry errors, enable complex pricing and ensure that materials and inventory are available for orders.
#6 – Manage Compliance and Risk Effectively
Compliance, or the failure to manage compliance, has a huge impact on a manufacturer’s ability to attract and retain customers. Acumatica helps manage requirements for financial, industry and data and security compliance. Robust security controls are also embedded in the solution.
#7 – Minimize Technology Costs
Acumatica’s solution is affordable and offers unlimited user licensing. This approach stands in contrast to what is available with most traditional ERP solutions. Acumatica is the only major ERP vendor that allows licensing for as many customers, vendors, and consultants as needed. With the true cloud ERP system, manufacturers do not have to invest in a server, manage backups off-site, and never have to upgrade the system physically. Implementation is simple, with nothing to install for cloud-based customers.
#8 – Get Actionable Business Insights
Acumatica integrates with Microsoft Power BI for advanced business intelligence, analytics and deep insights into the business. The platform supports native AI and machine learning (ML). All dashboards can be personalized to show key performance indicators. Over 250 standard reports and configurable data inquiries are available—including those that pull data from integrated operational and financial management modules.
#9 – Extend and Enhance Your Technology Investment
Acumatica’s native cloud design has an open architecture, allowing developers to integrate their products easily. With more than 300 channel partners, there are many opportunities to extend the use of the software and find solutions to critical challenges. Acumatica offers more than 200 products and stays up-to-date with current trends, and offers highly specialized applications to continue to scale and grow your business
LEARN MORE IN OUR GUIDE: 9 WAYS TO DRIVE MANUFACTURING GROWTH IN A DIGITAL ECONOMY
Increased competition. Shorter product lifecycles. Complex technologies. Ever-changing industry compliance mandates. It’s a lot for manufacturers to keep up with. But that doesn’t mean you have to put manufacturing growth on hold. Today’s digital technology can help you overcome these and other challenges as you strive to boost your revenue and increase your profits.
Of course, not every ERP system is equally suited to helping you drive manufacturing growth. How can you choose the right platform? This eBook from Acumatica will get you started. In this eBook, you’ll find out:
- How to drive growth through manufacturing efficiency.
- What it takes to generate more leads and close more business.
- Which technologies help you optimize inventory for maximum profits.
- The best ways to tackle compliance and risk challenges.
- Practical tips for reducing your technology costs.
We can help you evaluate the best ERP options for your business. Contact us to schedule a demo of Acumatica Cloud ERP, and we can discuss your specific needs in depth.