The manufacturing sector stands at the brink of a revolution, with the advent of Industry 4.0, digitalisation, and its resurgence post the pandemic. However, the upswing in the manufacturing industry is impeded by several internal issues.

1) Global changes have strained supply chains, making disruptions and inventory control significant hurdles for manufacturers. Manual stock checks often lead to mistakes and unidentified losses. Hence, it is critical for manufacturers to guarantee supplier stock reliability and robust quality management measures. Automated inventory management and improvements to end-to-end supply chain visibility can help businesses mitigate these challenges. Utilising cloud-based, IoT, and AI-led systems enables real-time tracking of goods, fosters better collaboration, and streamlines communication.

2) A lack of sufficient reporting systems often impedes manufacturers from predicting future sales, affecting their ability to fulfil commitments, leading to customer dissatisfaction and subsequent revenue loss. This lack of demand forecasting also impacts budgeting, production capacity, inventory management, and procurement. The adoption of predictive analysis of consumer data can help businesses accurately forecast demand and optimise product lifecycle.

3) Selecting strategies to enhance operational efficiency is a daunting task as it requires considerable investment in technology and human resources. Despite its benefits, automation and robotics in manufacturing can initially be expensive. Moreover, a lack of awareness about digital transformation and dependence on outdated systems can hinder your competition with businesses employing the latest technologies such as cloud, IoT, and AI. The long-term benefits of automation far outweigh the front-loaded expenses, and effective change management can support the upskilling of staff, bridging the talent gap.

4) Manufacturing businesses aim to increase operational efficiency while reducing costs. Moreover, robust risk management is crucial for the industry's long-term success. Implementing Intellegent ERP systems like NERP can reduce material waste, enhance equipment use, simplify supply networks, and improve product and process quality.

5) Increasing the ROI is a real challenge in the manufacturing industry. A great product lies redundant without effective sales management. Identifying customer needs and buying trends through CRM systems can aid efficient lead management that translates to sales. Agility and a robust digital mindset backed by innovation are key to respond and evolve in today's rapidly changing technology and business landscape.

NERP provides extensive and customized business solutions specifically designed to cater to the operational procedures within the manufacturing industry.