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The 21st century consumer world is fraught with choices at every turn. The ‘where to go’, ‘what to buy’ and ‘how much to spend’ questions will be central to most shoppers’ decision-making process, and striking the right balance between quality and cost is vital in ensuring value for money. With the advent of the internet era, this process has been made a whole lot easier, given the plethora of price comparison websites and other consumer-centric online hubs. And this can only be a good thing for the customer. But from a business point of view, it also means they have to work harder than ever to ensure they retain their market share; and must constantly consider how they can manage to stay ahead of the game and not lose out to their industry competitors. Furthermore, in an age where businesses and retail customers alike are enjoying an ever-increasing range of products to choose from, never has it been so important for manufacturers to consider new working methods and technologies. Therefore, this can help to ensure that they can stay ahead of the competition through offering a genuine, flexible service that is not only cost-effective, but also meets the ever-changing demands of their customer base. Indeed, with increased competition, manufacturing businesses must be innovative in their approach and be open to new ideas, whether it’s considering new processes, new equipment or even new materials. As with all businesses, manufacturing companies must develop a strategy which, essentially, should help coordinate their objectives and put into action a plan that will see them succeed in gaining a sustained advantage in the long-term over their competitors. A core component of any modern manufacturer’s strategy will involve software and technologies, which will ultimately help them to streamline their operations. From product data management systems to supply chain management software tools, there will be key IT solutions to help improve every aspect of a manufacturer’s business output. Enterprise Resource Planning (ERP) software is an increasingly popular option for all types of businesses, not just the manufacturing industry. ERP essentially provides all departments within a company with access to a shared database, meaning they can all access the same information. This simultaneous ‘real-time’ information access system means that resources can be allocated and production schedules can be planned far more efficiently. Furthermore, from a manufacturer’s point of view, ERP software tools help them to connect departments that usually function disparately, meaning that front-end customer service representatives can, for example, access financial, production and even warehousing information. Ultimately, this not only means that manufacturers can optimise and streamline their own operations, but they can also help their industry partners in their supply chain improve their own productivity. And in the long-run, this can only serve to help build and maintain key business relationships, which is crucial for sustained success. Isla Campbell writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.
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Enterprise Resource Planning, ERP, supply chain management, product data management, business, innovation,
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