Manufacturing and Supply Chain Expert Lisa Anderson, MBA, CSCP, CLTD, president of LMA Consulting Group Inc., predicts that manufacturing will be a top economic force in 2019. Key to the success will be creating a resilient supply chain. LMA Consulting Group works with clients on manufacturing strategy and end-to-end supply chain transformation that maximizes the customer experience and enables profitable, scalable, dramatic business growth. The firm also conducts research to help clients predict future trends and embrace key priorities to succeed.
“Economic volatility and uncertainty are the new normal. Instead of lamenting, clients should take advantage of the opportunity. There has never been a better time to stand out from the crowd with a superior customer experience amidst the chaos,” Ms. Anderson commented.
Based on client engagements and research, LMA has identified 5 areas that manufacturers must address to be successful in 2019. It starts with superior customer service and continues by taking a holistic, full circle view of the business. Understanding and preparing for volatility as the new normal will become foundational, whereas leveraging the collective power of the end-to-end supply chain and manufacturing capabilities will emerge as a critical priority. All areas culminate in the need for a resilient supply chain to be agile in these tumultuous, yet exciting times that are ripe with opportunity.
“Not only has the Amazon Effect driven customers to expect customized product and service offerings with rapid response – creating a greater demand for local manufacturing – it has also made innovation a cultural norm. Drones, robotics, IOT, artificial Intelligence, big data predictive analytics and additive manufacturing are transforming entire industries while providing the tools to create a customer-centric, resilient supply chain,” she said.
LMA predicts that creating a resilient supply chain to navigate disruptions and provide a superior customer experience will be key to achieving peak performance.
“Manufacturing is on the forefront of breakthroughs every day. From making the latest medication to cure cancer to customizing an engine part that will transform space exploration, manufacturing is uniquely positioned to have a lasting impact on our economy and our lives. For those who embrace the opportunity, the rewards will be tremendous” Ms. Anderson concluded.
For manufacturers, managing the supply chain is extremely important and can even be a ‘make it or break it’ type of situation. That being said, ERP software plays a vital role in SCM and has gained immense popularity within organizations. Research from Emerald Insight shows that there is a positive and significant relationship between ERP systems (integration, material management, production planning, and controlling), and SCM performance. Read this article for more information regarding ERP and SCM.
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