According to a recent blog post by our partner, Infor, manufacturers are expressing optimism for growth in 2018.
A report published by the Leading Edge Alliance paints a rosy picture of the global outlook for manufacturing. Manufacturers’ optimism for the world economy in 2018 is now 59.4% — almost a 15-point increase over the 2017 outlook. Manufacturers are also optimistic about their national economies (69.3%) and their regional economies (69.3%)
Topics: Manufacturing, Fashion & Retail, Food & Beverage, Distribution, Infor M3, Chemical, Equipment
Think about this:
81% of consumers in the 2016 IBM Consumer Expectations Study said they would choose one retailer over another based on the ability to see whether an item is currently in stock and if it will arrive on time. Whether online or in store, 72% of shoppers would make a purchase from another retailer if an item is out of stock, an increase from 42% in 2011.
All the while, Amazon continues to disrupt the retail industry with supply chain innovation as it drives consumer expectations toward quicker delivery rates: 72% of consumers now consider the option of two-day delivery a key factor influencing their buying decisions.
This trend means companies can no longer compete based only on the quality of their products; they also must battle on the performance of their supply chains.
Continue reading this blog from our partner, Infor to learn how digital commerce networks can help you deliver online orders on time.
Topics: Manufacturing, Process Manufacturing, Supply Chain, Warehouse Management Systems
Should you choose functionality or flexibility?
Yes.
Modification is a controversial word for many professionals in manufacturing’s IT industry. The term
“off the shelf” also has mixed connotations, as it is often associated with old generic business solutions that offered rudimentary functionality under the guise of “plug and play” simplicity.
As the needs of manufacturers have changed over the years, the software available to address them has evolved as well, leading to a lot of discussion lately around the age-old question of “to modify or not to modify.” While the issue remains complex, the pendulum seems to be swinging clearly away from heavily customized systems and toward those that can provide a large percentage of the functionality required, without significant modifications. A number of factors are driving this trend—aging systems (the acronym ERP, first used by Gartner, celebrates its 25th birthday this year), the increasing difficulty of finding workers who can support them, and changing market conditions are all on the list.
Topics: Manufacturing, Fashion & Retail, Food & Beverage, Distribution, Infor M3, Chemical, Equipment
Manufacturers face increasing pressures to adopt digital strategies in order to keep pace with innovation and customer expectations. Unfortunately, according to IDC Manufacturing Insights, manufacturers are also reluctant to be first movers. Only 15% have a digital strategy in place now. 37% Want to be early adapters, but not first movers— because there may be risks. And, 35% say they prefer to wait until they see proven results before they deploy digital technologies.
Topics: Manufacturing, Fashion & Retail, Food & Beverage, Distribution, Infor M3, Chemical, Equipment
Digital transformation is impacting all manufacturing and distribution businesses. No matter how complex your supply chain is, you need to be able to respond faster to change, reduce excess inventory, and cut costs. Most importantly, you’ve got to give customers what you’ve promised at the time you promised it. To keep up with the pace of change, you need an agile and modern ERP solution that is flexible enough to handle both the opportunities and challenges you face today—and tomorrow.
Read how Infor M3 delivers rich industry-specific functionality to cover your unique business needs.
Topics: Manufacturing, Fashion & Retail, Food & Beverage, Distribution, Infor M3, Chemical, Equipment
No matter how complex your supply chain is, you need to be able to respond faster to change, reduce excess inventory, and cut costs. Most importantly, you’ve got to give customers what you’ve promised at the time you promised it. To keep up with the pace of change, you need an agile and modern ERP solution that is flexible enough to handle both the opportunities and challenges you face today—and tomorrow.
Topics: Manufacturing, Distribution, Infor M3
ICCG provides some resources - by industry - to provide you with the information and education to get started. Download and read at your own pace and if you have questions, we look forward to answering.
Topics: ERP, Manufacturing, Fashion & Retail, Food & Beverage, Distribution, Rentals & Equipment, Retail
Larry Fast, founder and president of Pathways to Manufacturing Excellence.
Question:
"What is World Class Manufacturing and How Do You Measure It?
Answer:
Now THAT’s a great question! I am unaware of a specific measurement that is universally available for use. If any of our readers are aware of such a measurement(s), then please comment. I can only share how I’ve thought about it and what I’ve used over the years with my operations and my clients.
My definition of World Class: “When a U.S. company and its factories are competitive in global markets they wish to serve.” As I’ve said before, U.S. manufacturing leadership can gripe about the playing field not being level while they watch foreign manufacturers continue to eat into their market share in this country. The ultimate outcome will range from a shrinking market share in the U.S. and/or one day going out of business; OR, the alternative—we must become good enough to compete. That’s World Class.
Topics: Manufacturing