Sage X3 offers unprecedented insight and business data for discrete manufacturers. Worldwide, there’s growing unease about the slowdown in demand. Nationalism is rising and sales are slowing. When there’s this confluence of global factors, the emphasis shifts from expansion to improving productivity. Sage X3 can help you improve productivity and more.
There are several steps you can take to improve productivity and profitability as the global demand for discrete manufacturing slows. These include:
- Leverage Sage X3 data and analytics: Sage X3 users know that the system provides excellent data and analytics. Condition-based monitoring, which helps discrete manufacturers monitor the condition of equipment and facilities, can be monitored and tracked. Warehouse management can be improved using data from Sage X3. Other areas of improvement include data-based marketing, sales, and operational decisions. Use all the data that you can from Sage X3 and make sound, fact-based decisions. Monitor costs and expenses carefully and make better decisions about your operations.
- Use pricing for competitive advantage: Sage X3 can help you improve your supply chain management, which in turn can drive down the cost of goods. You can use lower wholesale costs to provide incentive pricing for good customers or to increase market share by aggressively pricing high demand goods. Price can be an effective marketing strategy if used judiciously.
- Cultivate strategic partnerships: Consider whether strategic partnerships can be used to enhance your company’s abilities to reach new markets or produce innovative goods. A strategic partnership can be used to leverage industry knowledge, specific project-based innovations, or other areas where business growth outweighs concerns about sharing information.
- Use data to make incremental improvements: Look at your company’s operation data in Sage X3 to see where incremental gains can be made. For example, just a slight reduction in return rates can yield gains in profitability. Wasting less during the production process can increase profitability too. Spending more on routine maintenance for equipment may result in fewer costly emergency repairs. By using operational data, you can make choices about where to spend to save in the future or how to get more from using less.
- Never stop recruiting: Hiring is probably the last thing on your mind when costs are rising and sales are declining. It takes top people to build a top company, and it’s often difficult to find mid- to senior-level manufacturing talent when you need it. Build a company-wide recruitment campaign to position your company as a great place to work. Include your sales, marketing, and communication teams in the movement to make your company number one. Always be open to new hires if the talent they bring can boost your company’s productivity, sales, or market share.
Building a Discrete Manufacturing Ecosystem
The buzzword now is “ecosystem”—an interrelated sequence of thoughts, ideas, and more that support growth and development. Discrete manufacturers can build their own ecosystem by considering:
- Sharing specific intellectual property assets to build something better with a selected partner;
- Collaborating with another manufacturer to create a highly desirable product;
- Sharing supplier resources with other manufacturers to support an evolving industry;
- Using systems such as Sage X3 that support collaboration.
Sage X3 can be used by discrete manufacturers to make improvements that can counteract the slowdown in the global market. While you may not be able to increase demand, you can certainly decrease costs and find new and innovative ways to build new products.
At some point in time, the manufacturing cycle will pick up again. It always does. Until then, smart manufacturers use Sage X3 data to continue producing at profitable rates. Be one of the smart companies by learning more about Sage X3 today.
IWI Consulting Group
IWI Consulting Group helps businesses gain insights into their operations, inventory, and profitability. We provide software and support for a wide range of industries throughout Canada. For more information, please visit IWI Consulting Group or contact us today.