The Best Solution for Manufacturing Industry Challenges

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Manufacturing in India is among one the industries with the highest growth rates. We are actively growing to establish ourselves as a manufacturing center that the entire world can recognize. An IBEF analysis claims that by 2030, India can contribute more than US$ 500 billion yearly to the global economy and become a major center for manufacturing. 


However, the manufacturing industry faces a plethora of challenges. In this article, we'll talk about those problems as well as the best solutions. 


There are numerous distinct manufacturing industries, some of which include the food manufacturing industry, Clothing manufacturer, garment manufacturing, etc. Starting a new industry without proper management of inventory, and good software to track the progress of reports could be risky. Production and supply chain disruptions have been a key outcome of this pandemic's impact on manufacturing; one of the causes of this suffering was the unavailability of good software to access data everywhere


Let's Get deep Into the Problems : 

1. Problems: Disruption of the Supply chain

Supply chain management is one of the biggest challenges facing the manufacturing industry. Bottlenecks in supply chain processes decrease the speed of execution. Knowing what is happening in your supply chain is essential, lack of communication between departments can cause poor transparency and more chances of fraud in the organization. Any delay or overstocked inventories can impact the company by millions of dollars.


Solution

Hostbooks provides a consolidated system for complete supply chain visibility. Along with improving visibility inside data sharing, this aids in collaboration with suppliers, retailers, and others for tracking the performance at each level. The software provides real-time access to data so users can make data-driven decisions to enhance supply chain performance.

To maintain your client relationship, the software also has the facility of sending offers to your distributors and retailers. Invoices can easily be created from any location while maintaining control over your transactions even when you are on vacation with your family.


2. Problem: Assigning Responsibilities

A project demands the completion of numerous tasks, so it's crucial that the team members allocated to each project leg are capable of leading the process. It can significantly slow down your work as well as cause additional issues if you give a task to someone who is unqualified for it.

As a result, tasks and files are scattered over several places. They end up wasting a lot of time seeking solutions because they are unsure of what to focus on initially. Meetings and emails are required to discuss priorities and get everyone on the same page, which again significantly reduces your team's productivity.


Solution

The accounting software from HostBooks facilitates project cooperation and progress monitoring. The software makes it easier for teams to work together and monitor project progress while defining tasks and responsibilities. It enables seamless stakeholder cooperation and gives project managers control over scheduling and expenses.

 Using project tracking software makes it simple to assign work and set priorities because all communication takes place in one single location. It becomes simple to keep track of your team's work, which guarantees that projects are moving forward as intended. The software makes it possible to track profits from expenses, measure productivity, and determine who is performing well.


3. Problem: Business Intelligence

Understanding how and when to expand your business is another significant difficulty facing the manufacturing sector. The majority of manufacturing company reports are submitted late because data is collected days after the actual activity, which causes the failure to make the proper business decisions.


Solution

With the help of business intelligence software, the manufacturer has the power of data-driven reports. Any person in authority can access it, and different departments can be able to get the necessary information for the department to scale up. Software not only assists you in preventing out-of-stock situations but also manages to remove the ones that are not in demand. 

In order to efficiently and successfully organize internal resources, raw materials, and customer needs for quality and delivery, business intelligence (BI) is a must. You can choose which products to remove from your inventory and which ones to focus on using the data in this report and expand your business accordingly. 



Other main problems are 

  • Misalignment of production with sales
  • Unplanned and Uncontrolled Expenses
  • Shortage of Resources means production downtime
  • Unable to track inquiries coming from Customers
  • Products fail to meet customer demand and they suffer lower sales.



Conclusion

As you may have already realized, ERP software is crucial for any organization, but especially for the challenges of the manufacturing industry. 


We provide a range of cloud-based ERP systems tailored to specific industries,  Additionally, we have a wealth of experience working with manufacturers across a wide range of industries. Both the top-line and bottom-line figures are useful in determining the financial strength of a company, Hostbooks ERP software helps in the Optimization of operational costs to enhance your bottom line and ultimately top-line revenue


We provide cutting-edge solutions using a combination of our deep industry knowledge and technical know-how to help you overcome your most difficult problems and make sure you succeed as your market changes.


Location: India

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