Pandemic shutdowns, supply chain issues and growing customer demand have all changed the manufacturing industry over the past three years. What does that mean for your company? The enterprise resource planning (ERP) system you depend on may no longer meet the demands of your business. If you haven’t upgraded your system recently, you could be
Mergers and acquisitions (M&A) is a high stakes game. Being prepared for all possibilities, and knowing about the issues that might arise, will increase the likelihood of a smooth and successful transaction. Hartman Executive Advisors discusses best practices middle market manufacturing companies can follow to increase the probability of success on both buy-side and sell-side
For the past three years, manufacturers have faced a persistent labor shortage, in spite of recently surpassing the pre-pandemic peak in the number of manufacturing jobs. The problem extends beyond the manufacturing industry. According to the U.S. Chamber of Commerce, there were over 10 million job openings in October 2022, with roughly six million unemployed
The manufacturing supply chain is a complex ecosystem that, when done right, can help companies reduce costs, increase efficiency, and improve customer satisfaction — all while creating scalability, decreasing costs, and increasing revenue. In a manufacturing supply chain, collaboration is key to ongoing success, as companies need to continually provide necessary information to each other,
Summary: The e-bill of lading efficiency impact is huge for anyone trading internationally. For years this industry has been couriering document packets around the word. An immutable ledger to facilitate ownership transition and cargo release is game changing, especially for some high value industries. The adoption of blockchain facilitates that. Upon its inception, the development
Covid-19 forced a massive shift in consumer behavior, resulting in some of the most significant retail, distribution, and supply chain challenges in our lifetime. The pandemic accelerated the adoption of eCommerce through online shopping, digital engagement, and omni-channel strategies. In response to the unanticipated demand, companies showed agility and speed while demonstrating innovation in the
What Manufacturing, Distribution, Logistics, and Retail Companies Need to Know to Protect Their Business Over the past two years we have experienced unprecedented disruption to the global supply chain. There are many issues impacting manufacturing, distribution, logistics, and retail companies, ranging from employee shortages to cyberattacks. As the country’s ports increasingly rely on technology, there
Nearly two years into the pandemic, the manufacturing industry is continuing to feel the debilitating effects of COVID-19. Countless businesses were forced to alter their supply chains to keep up with growing demands by advancing their production operations or changing production locations. According to the latest EY Global Capital Confidence Barometer, 78 percent of manufacturing
A new ERP system can make all the difference for companies that are struggling with legacy systems and encountering difficulties growing their business, meeting customer service expectations and maintaining compatibility between systems. Enterprise Resource Planning (ERP) is highly effective process management software that integrates business supply chains, commerce, operations, financials, manufacturing, reporting, and human resource
Approximately 88 percent of organizations across multiple industries report that implementing an ERP system aided in their business success, according to Selecthub. Enterprise resource planning (ERP) plays an integral role in business, giving modern organizations the tools needed to streamline their core processes within a single system. ERP software can be used to manage a
