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Two Trends Shaping Production Planning Software Solutions

Some business leaders looked to technology to help with the burden and looked to production planning software to boost future proof production.

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Shaping Production Planning Software Solutions

The COVID-19 pandemic showed how fragile the global supply chain could be. For many small manufacturers, downtime resulted in lost earnings and increased pressure on the business to keep the doors open and retain employees. This was not often the case, and many had to downsize.

Some business leaders looked to technology to help with the burden and looked to production planning software to boost future proof production. Such software is not a silver bullet, but it can an asset during uncertain times. Further, with two trends developing in the market, the asset’s value is now set to increase.

1. Machine Learning

While machine learning is often portrayed as a holy grail for many industries, those within production planning have cautiously approached its adoption. This is mainly due to its posing a tough problem-solving in production planning than in other manufacturing environments. This is due in part to the number of variables generated from different sources production planning software needs to factor in.

Despite the difficulty, solutions can be found, and the central concept of machine learning, namely continuous improvement can be realized. Currently, the software can collect, analyze, and visualize data generated from multiple sources allowing for machine learning to take place.

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Questions regarding the return of investment still will need to be asked by smaller manufacturers. However, solutions are available which target smaller enterprises. These solutions can provide high-fidelity insights into operations that are easily overlooked or not considered at all.

Production planning may lag behind other industries’ adoption of machine learning technology, but that does not mean it is not coming. While integration may be slower, it is breaking new ground for not only production planning but also machine learning. It is taking on even more complex systems that originally realized.

2. Continuous Planning and Execution

The recent pandemic showed that plan needed to be flexible to overcome hurdles global events can place in front of organizations. One way to remain flexible and prevent crashing into barriers is by adopting continuous planning and execution methodologies.

The idea can fill a textbook, but in providing an oversimplification of the concept, plans are treated as living objects rather than stages set in stone. The program can respond to events and sudden changes, whether determined by the manufacturer or a global phenomenon.

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Providing an example of this flexibility, it helps to consider a typical manufacturer’s 30-day plan. Traditional planning methods rely on forecasts made by the designated team, which have to take into account the demand for manufactured goods and the costs involved.

What if suppliers are not able to deliver as promised? Or bringing the product to market is delayed by some unforeseen consequence? As continuous planning produces actionable plans more frequently, it allows for more rapid adoption of policies and execution, avoiding pitfalls, as there may be multiple plans spanning time frames as little as a week.

3. Conclusion

Production planning has always been a complex affair. Current software solutions can make this difficult task easier. With the adoption of the trends mentioned above, that task is set to become even easier.

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Business

4 Supply Chain Strategies for Digital Growth

Organizations generally model their supply chain strategies on their business model and customer demands. Supply Chain Strategies for Digital Growth.

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Run a Better Business With These Key Tips

Business models continue to adapt to today’s digital economy and consumer demand. For new and established companies to succeed, they have to be equipped with suitable supply chain strategies to meet the standards.

Consumers now tend to want and buy products and services quickly with websites and smartphone apps. Setting up and implementing the ideal strategies to control the supply chain will help businesses grow and increase their profit margin.

A comprehensive and effective plan will ensure that a business can smoothly move products through the supply chain. In addition, operations will efficiently function, costs will reduce, and profitability will increase.

Organizations generally model their supply chain strategies on their business model and customer demands. The following are some of the techniques that can help your business grow.

1. Customer-Centricity

This strategy streamlines its focus on the needs and preferences of customers. To ensure a customer-centric strategy, a business owner will have to improve the demand forecasting accuracy. It will enable the said company to prepare the inventory products to meet projected demands.

Businesses can pinpoint in-demand trends and products by using inventory management software that has forecasting abilities. The tool will record data concerning sales and stock. It will then provide real-time reports.

By using this strategy, organizations will be able to improve their financial performance while providing excellent customer service. Regular monitoring of demand will allow business owners to enhance their collaboration with suppliers, which will help in the efficient handling of new inventory.

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2. Predictive Business

Setbacks like delayed shipment and machine malfunction will happen at times. However, businesses will be able to prevent most of these issues by quickly attending to them with the help of predictive technology.

By using predictive maintenance, a business can obtain a clear and concise view of its entire operation – including assets, products, and equipment. Insight can also be gained regarding product improvements and cost minimization methods.

3. Intelligent Automation

There’s no denying that businesses, regardless of industry, have embraced the integration of automation. This has been a very effective supply chain management strategy. Automation includes delivery drones, autonomous forklift trucks, and software solutions to streamline warehouse management.

Manufacturing companies maximize their supply chain’s potential by using intelligent automation. This solution utilizes robotic processes, AI, and software engineering practices to automate complex business operations. Manufacturers use this tool to mass-produce consumer-friendly products.

This will undoubtedly boost the revenue and sales of a business. Also, the flexibility automation provides allows companies to manufacture products when they’re needed – instead of manufacturing large quantities at once.

4. Total Visibility

For the supply chain to be managed appropriately, business owners will need complete visibility into every process and its role. Executives will have to monitor the production and delivery of the products. They will also have to regularly assess sales data to determine any future disruption in the supply chain.

With real-time supply chain visibility, management will be able to identify anomalies in the supply chain. They can also make quick adjustments to the production process or inventory to rectify the anomaly. This will go a long way in minimizing risks and spending.

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