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Manufacturing is no stranger to change, of course; its history has been marked by significant transformations since the invention of the steam engine. But the industry has never experienced so much change in such a short span of time.
The fast evolving landscape of the manufacturing industry is reflective in that customers throughout the world are insisting on more personalized, customized products —and customer service. Not only this, but also with COVID-19, manufacturing industries are having a spillover impact with the economics of production and new supply chain complexities.
Technological advances, from the connected devices of the Internet of Things to data analytics, automation, and artificial intelligence, are opening up new business frontiers and new routes to competitive advantage, and at the same time, increasing competition as they reduce many of the industry’s once-formidable barriers to entry, allowing new market entrants to move in.
This enormous pressure and unprecedented pace to challenge a highly competitive market, as well as meet demands of the ever-changing consumer needs can be supported by the power of digital transformation – to become more agile and responsible than ever before.
Using digital technologies to streamline and automate traditionally manual processes can help achieve new operational efficiencies. It means building ‘smart’ manufacturing facilities by leveraging enterprise-wide systems and the cloud, deploying IoT devices and sensors across the business, and harnessing data analytics, continuing to pursue innovation, from robotics to 3-D printing and beyond.
Early adopters of the ‘smart factory’ strategy are already reaping the early rewards of their digital transformation efforts, with increased productivity, greater efficiencies, and improved profitability. But these first movers know that they can’t rest on their laurels—they must continue to innovate and capitalize on the power and potential of digital technologies. As for other manufacturers, the writing is on the wall: it’s time to act. Their continued long-term success depends on it.
The SAP Business One platform accelerates your digital transformation and delivers meaningful value from the start—all from a single, central platform. It enables your business to automate key business processes and functions, including finance, sales, service, purchasing, manufacturing, operations, fulfillment, and more.
Some of the many out-of-the-box core functionalities include Serialization and RFID technology to track materials across the entire production process and multiple unit-of-measure capabilities that can kickstart your company’s digital transformation. Your company can expand the power of SAP Business One by incorporating SAP-certified add-on modules that extend the platform’s core functionality. Examples include project-based manufacturing, advanced planning and scheduling, quality control and much more.
Stay ahead of the curve and read more about your company’s potential in this whitepaper: https://aclaros.com/the-future-of-manufacturing-is-here/