The only constant in business today is change, and the only certainty is that change will likely accelerate in the future. In order to survive and thrive in this environment, manufacturers must be able to rapidly respond to changes by adjusting their business processes or models to meet the requirements of a new market dynamic. Change is being driven from a number of sources such as competitive environments, digital transformation in manufacturing and how knowledge is being transferred across the world. As the central control center over an enterprise’s processes, a rapid response ERP is essential to the ability of a manufacturer to manage this rapid rate of change in business.
More Demand, More Competition
Customers’ demands for better products and services at lower prices has led to an explosion in global competition. Competitors are offering customers a multitude of choices in terms of product, price, quality and the services used to support them. These changes can happen rapidly as challengers from anywhere in the world can rise up as competitors, threatening their local or regional market. Not only must manufacturers be able to rapidly respond by adjusting their pricing, product or service offerings, they must also be able to rapidly implement those changes across the enterprise. This is accomplished through a rapid response ERP.
Technologies such as the Internet, cloud computing and the rise of e-commerce have provided global competitors with the ability to challenge incumbents across the globe, taking advantage of new market opportunities. A rapid response ERP enables companies to quickly respond to competitive challenges by leveraging cloud technology to promptly communicate product and process changes across the global footprint of a manufacturer.
Knowledge is Your Competitive Advantage
Knowledge is an extremely valuable and critical factor to the success of any enterprise. The rate at which information and knowledge can be transferred from one country to the next challenges manufacturers to keep up with the information gap. As technological, product and best practice knowledge moves across the world, in order to build or maintain competitive advantage, manufacturers must be able to rapidly absorb, analyze and efficiently apply that knowledge to their own operations. A cloud deployed, rapid response ERP can help customers react quickly and positively to changes or new paradigms in the business environment.
Today’s business environment is constantly changing, and the rate in which it is changing is increasing each year. Manufacturers need to be able to respond with agility and speed to the ever-evolving demands of the marketplace. For companies looking to survive and thrive in the coming waves of market disruption, a cloud-based, rapid response ERP is a critical requirement.
Does your ERP solution enable your business to rapidly respond to change? Tell us more about the successes or challenges you face in the comments below.