So After Investing $1 Million+ in Systems, Why Are We Making Important Decisions from Spreadsheets?
Every CFO seems to wonder why they spend millions on ERP upgrades yet critical decisions seem to boil down to spreadsheets.
Every CFO seems to wonder why they spend millions on ERP upgrades yet critical decisions seem to boil down to spreadsheets.
Fulfilling customer demand successfully is not as easy as it was prior to this volatile, uncertain, complex, and ambiguous (VUCA) environment. As supply chain disruptions continue to rage, planners jump through hoops, expedite, and are a bit frazzled trying to support customer requirements while meeting operational objectives, pushing back when needed on sales commitments, and addressing cost concerns.
As revenues remain volatile, disruptions plague supply chains, and interest rates remain high, executives' ability to build revenue, margin and working capital predictability and improvement takes on an elevated importance.
According to the WorldMetrics.org report, 89% of manufacturers believe automation is key to increasing productivity. More importantly to increasing profitable growth, the report also finds that automation reduces manufacturing lead time by 75%.
If you follow the stock market, you might think the economy is strong. As consumers, we are frustrated with the price of everyday supplies such as food, gas, and housing.
In the last month, we've participated in at least six economic forecast presentations or discussions with experts (economic, banking, investment, manufacturing). Although they each had nuances, common themes emerged. Adding our expertise into the mix, we see volatility on the horizon.
Disruptions have not stopped. China has been flying balloons over Taiwan. North Korea is threatening South Korea. Russia continues its war with Ukraine. Israel is at war with Hamas [...]
According to Polaris Market Research, the market size of artificial intelligence (AI) in manufacturing is predicted to grow more than 41% during the next decade. Although the latest Sikich Industry Pulse found that less than 20% manufacturers have started to implement AI [...]
Manufacturing has struggled to produce what customers want on-time without spending a fortune and tying up excess cash unnecessarily in the wrong, "just-in-case" inventory. It is a tough environment spiraling out of control with supply chain chaos.
Since the pandemic, it has been a constant battle to ensure material availability, let alone to proactively manage cost and service. Even the most proactive and successful clients have experienced brief shortages of key materials and extended lead-times. The rest have been plagued with these issues.