Manufacturers and distributors can leverage Cloud ERP to revolutionize the way they do business and manage disruption as the impact of the global pandemic, regional instabilities, and natural disasters continues to cause supply chain volatility. Supply chain disruptions have resulted in the need for highly agile organizations that are responsive to ever-changing market needs. Our latest research survey shows that 70% of manufacturing and distribution businesses experienced supply chain disruptions and 60% of businesses were unable to engage and collaborate with customers and suppliers in real-time. While collaboration and supply chain disruptions have been the biggest areas of impact, only 45% of businesses have the systems in place to address these disruptions and effectively collaborate with external suppliers and customers.
Customer expectations are rising, and industries need to carve out new revenue streams and use real-time data, predictive analytics, and automation to increase supply chain efficiencies, lower costs, reduce downtime and increase productivity and quality.
Cloud ERP for a resilient supply chain
A resilient supply chain means it can withstand the impact of both short-term and long-term disruptions, can recover quickly, and meet business obligations without significant impact on service levels. Adapting your business processes and operations as global conditions change allows your organization to react quicker and manage the disruptions along the supply chain.
The research survey further reveals that only 20% of manufacturing and distribution businesses have looked at investing in big data analytics in response to the ongoing disruptions. Without data insights organizations are unable to see shifts along the supply chain and collaborate with customers and suppliers in real-time. With Cloud ERP industries can ensure a connected supply chain that integrates and executes actions by working holistically with each related department for example from assembly, to packing right through to logistics. Cloud ERP allows your business to integrate disparate systems, unifies data silos and accelerates the development and deployment of new services which is critical in volatile times. Visibility across your operations results in better data-driven decisions and helps resolve demand and supply imbalances.
Securing a digital future with Cloud ERP
The survey additionally revealed that almost 70% of businesses have developed digitalization strategies to overcome future disruption, which indicates a shift to digital systems and processes. Cloud ERP is a foundational digital technology investment manufacturers and distributors should consider. It offers multiple benefits, over and above enabling collaboration and visibility, it offers industries with the capacity to adopt best industry practice, the proficiency to customize requirements and reduce IT Infrastructure, resilience, and management costs, as well as the ability to future-proof operations. One of the primary reasons for an organization to select a cloud-based ERP solution, is the cost savings. Additionally, resilience of IT operations and compliance challenges such as backups, recovery management as well as the ongoing requirement to ensure suitable performance of the ERP Solution is also negated.
Is your supply chain ready for what’s next?
For today’s businesses, Cloud ERP solutions power more intelligent, scalable, and resilient supply chains.
Cloud ERP can help you thrive and remain competitive in uncertain environments as it enables:
Scalability: It allows businesses to grow when and how they need to. This is especially valuable for businesses that are in the early stages of digital transformation.
Agility: Cloud ERP enables organizations to use what-if scenarios and predictive analytics to inform powerful insights. Unexpected disruptions are not only better predicted but contingency plans will be in place and quickly implemented across the entire operation.
Immediacy: The Cloud allows for data and information to be shared immediately. This allows organizations to accumulate enough operational data to inform business decisions.
Accessibility: Stakeholders no longer need to be onsite to access information. It enables connectedness across locations, devices, and time zones.
Customer-centricity: In a post-pandemic world customers are prioritizing convenience, price, and customer experience. Cloud ERP allows businesses to identify and respond quickly to customer trends and deliver personalized and responsive experiences in a rapidly shifting marketplace.
Whether its everyday applications or operational management there is no denying that Cloud has decreased the barrier to entry for new and growing businesses to leverage and adopt powerful technology that helps them stay competitive. From reducing hardware maintenance costs to the ease and security of working remotely, the opportunities are endless.