Everything is Changing
When people are still trying to cope with the pandemic crisis, they are gradually picking up the practice of investing money in the necessity of goods rather than in luxury items. This change in customers’ buying behavior inevitably influences the productivity of manufacturing units.
Companies are bound to notice a major shift in the demands, either surge or decline, based on what they produce. This would make it necessary for them to consider pivoting their product offerings as well as their business strategies to sustain in the challenging situation.
Post COVID Market - Top Manufacturing Trends 2021
After the quarantine, as reopening began in fits and starts, it is observed that manufacturing companies that are continuing or planning to continue the old ways for managing their operations are going to be significantly posed with the threat to thrive in the post-COVID world.
Here are the lasting post-COVID ERP trends for the manufacturing industry:
Reevaluate And Realign Supply Chain Operations
As the pandemic showed up, manufacturing businesses suddenly went to a position of not having enough critical supplies. Multiple lockdowns brought significant disruption to the global supply chain, making it impossible for manufacturers to get a hold of the raw materials they need. This has prompted many companies to reevaluate and diversify their sourcing by adopting technology to help them with more accurate forecasting.
An advanced manufacturing ERP software is integrated with tools that allow manufacturers to analyze past records and conclude the future demands accurately. Thus, it enables them to better deal with the market crisis and minimize current and future supply chain disruptions.
More Reliance On Process Automation
Process automation cuts down the need for human intervention, making it a significant tool for effectively maintaining social distancing practices to prevent the spread of deadly Coronavirus infection.
Manufacturers who have already adopted automation for their production processes would find it easier to follow the new norms and effortlessly reallocate their human capital. On the other hand, the companies that are yet to accept process automation, need to prioritize implementing manufacturing ERP software. The system would induce department-wide automation to improve productivity, lower costs, and reduce workplace risks while ensuring a smooth continuation of business operations in the long run.
Buying Behaviour Is Changing
The global pandemic has forced the draining of economy. People are experiencing financial distress, meaning their focus on saving dominates the present and foreseeable future. This mentality dramatically influences consumers' buying behavior. The demand for certain goods has increased while other products' requirements are likely to continue seeing a decrease for some time.
To minimize revenue losses, manufacturers need to consider evaluating the present requirements and future demands. A right manufacturing ERP system helps get better visibility of consumer demands and poses better control over production processes to match their fluctuating needs.
More Inclined To Bulk-buying
Disturbed supply chain and lack of essential products have made consumers adopt bulk-buying and stockpiling as a fixture to deal with the ongoing crisis. Most of the manufacturers find their current inventory strategies ill-suited to support this consumer buying trend.
Consistent shortages lead to loss of revenue. Businesses need to rework their manufacturing strategies to maintain an adequate supply for keeping up with demand. Therefore, they need to feature manufacturing ERP software to maintain effective supplier relationships and ensure their production never suffer due to unavailability of raw material.
Digitizing Customer Support
Social distancing compelled manufactures to invest in ERP for manufacturing industry. The system enables manufacturers to shift their staff to remote working and automate customer service. The industry-ready solution can be immediately deployed and includes tools that support the customer service team to manage queries while working remotely easily.
Measures Taken For Faster & Cheaper Production
Manufacturing industry ERP is a highly effective system that automates operations, thereby increases productivity and reduce operational costs.
Thus, it transforms the expensive and time-consuming manufacturing processes while supporting the mass production of necessary products. This impacts the overall manufacturing businesses, leading to the production of goods at a much faster rate and lower prices.
Predictive Maintenance Keeps Production on Track
Predictive maintenance has always been essential for manufacturers, and the trend would continue to dominate. Each time a manufacturer experiences a breakdown in critical equipment, it costs them repairs as well as the loss of productivity due to the downtime. Therefore, the manufacturing companies need to ensure that all equipment functions at the optimal levels.
Investing in the right manufacturing ERP software turns predictive maintenance effortless. The progressive features included in the system enable it to analyze and anticipate disruptions. This prepares the manufactures to adjust quickly and builds a resilient network to mitigate the impacts.
A world without smart devices is hard to imagine these days. Establishing internal communications is a critical part of smooth workflow management, and it leaves no workforce out of the loop.
With the help of a mobile-ready manufacturing ERP application, production staffs are able to connect with the relevant department and access real-time information from their mobile devices, irrespective of their locations. This instantaneous accessibility improves workflow and expedites production processes for enhanced operational productivity.
To Sum it Up
Based on the top 2021 ERP trends dominating the manufacturing industry in India, it can be concluded that the adoption of the business management software is likely to accelerate among manufacturers. The advanced system accommodates new features to offer companies more flexibility to deal with pandemic disruptions.
If you are a manufacturer dealing with post-COVID challenges, you have landed at the right place. We provide new-age manufacturing ERP solutions designed to help you reduce the impact of the post-COVID crisis on your business productivity.