Supply chain has become an excuse. Although there has certainly been a slew of supply chain challenges that carry on with baby formula shortages, rail backlogs, computer chip issues, hurricane induced delays, fertilizer scarcity, and China’s zero-COVID policy delays, supply chain should no longer be the excuse. Only the [...]
As originally published in Brushware Magazine on Sept/ Oct 2022. Inflation continues to plague the world with escalating prices across a spectrum of products and services. The price of oil and gas has continued to rise and supply chain challenges persist, creating inflationary pressures across the board. Even though [...]
Manufacturers utilize less than 20% of the full functionality of their ERP systems. But the key question is, why does it matter? In today’s inflationary and supply chain disrupted business environment, manufacturers need to automate and digitize to ‘do more with less’ and thrive during these volatile times. One important way to achieve this goal is to further leverage your ERP system where it will make a difference.
"Proactively managing cash flow is critical right now," says Lisa Anderson, president of LMA Consulting Group, Claremont, Calif. This can be done by running periodic forecasts.
Manufacturers are experiencing continued inflationary pressures threatening customer service and profit margins with record-breaking price increases and lack of material availability. To add fuel to the fire, they are also starting to worry about preparing for a potential recession.
According to the Wall Street Journal, consumer prices are the highest in 40 years. It certainly doesn’t seem to be letting up. In fact, with the Russia-Ukraine war, there will be continued inflationary pressures on products related to oil, gas, commodity, and food at a minimum.
According to FactSet Insight, revenue growth is predicted at 7.5% for 2022 which is substantial when considering it is following record-breaking growth in 2021. Clients and colleagues are seeing record increases in sales revenues and pricing.
Supply chain disruptions will continue throughout 2022. In fact, we need to accept that supply chain challenges will be commonplace in the next normal. Each link in the supply chain will continue to blame the others while the end-to-end supply chain will only be as strong as its weakest link. Manufacturers will continue to experience shortages of materials and labor while prices escalate.
There will a resounding resurgence of manufacturing near-term. According to a new report from The Reshoring Initiative®, reshoring broke records in 2020 and exceeded foreign direct investment (FDI) for the first time since 2013. Not only did it beat FDI, but it beat it by nearly 100%! Also, according to the National Association of Manufacturers (NAM) [...]
According to Prudential’s latest Pulse of the American Worker Survey, one in four workers plan to look for a job a different company once the pandemic has subsided. Additionally, a recent Robert Half survey found that 38% of workers feel stuck in their careers, and an EY survey found [...]
