It’s pretty hard to make judgment calls when you are limited by inaccurate, dated information. Whether you are a doctor trying to diagnose a patient or a CEO deciding where to improve his business operations, good data and insight is essential to making good decisions.
In the world of manufacturing and distribution, accurate data is the lifeblood of a successful, profitable organization. Manufacturing is a game of margins. The goal: getting a quality product at the lowest possible price. Companies that are successful at this earn the most profits. But how do you cut the inefficient fat from your operations? How do you gain lean operations and take your business beyond status-quo? The answer is value mapping.
Value mapping is evaluating how much worth you are placing on various assets and operations in your business and determining if your company is seeing enough return on investment to warrant the effort and money you put into taking care of those assets.
Customers are a great example of this. Every business has those small customers with high demands. Spending more time to ensure their absolute happiness may not pay off for your business if that increased effort takes time away from your larger clients. The fact is that not all customers are the same, and for most businesses, it is unrealistic to ensure the total unequivocal happiness of every single company that seeks your products and services.
To be sustainable and efficient in today’s competitive marketplace, companies need to work smarter and IBM helps them do so. So, how do you better determine the value of your customers? The answer becomes visible when you can back your decisions with accurate, up-to-date information using IBM data capturing tools and analytics.
With the latest ERP technologies, you can up your proactive game to impress. Your company can gain built-in CRM (Customer Relationship Management) solutions that track client data, grease the communications between your team and your clients, and even predict customer needs.
The best part is that ERPs, mastered by IBM, offer visibility into so much more. By better mapping the value you place in operations and processes company-wide, your business has the potential to improve shipping, order-entry, order-taking, follow-ups, picking, financial reporting, supplier accuracy, risk management, and pretty much every are of business.
The power of ERPs lies in automation and the ability to automatically track and report on nearly every aspect of your business. The other side to this card is analytics. For distribution and manufacturing companies, for instance, there are just so many details and elements to track. An IBM ERP is specially designed to track these values throughout your entire company, offer an inclusive view into operations, and streamline the function of your business as whole – from internal departments to customer management and supplier relationships.
The value in value-mapping comes from the ability to determine what your business is doing right and wrong. From the ability to manage workflows to determine what can be streamlined to determining if a software that your employees are using is making your business any money – companies need to know these details to drive profits.
So, how do you do this? It mainly comes down to communication across an organization, and Acumen, alongside IBM, is helping with this. With a litany of internal communication products, companies have the power to increase the collaboration and sharing of information within their businesses.
How does your business plan to harness technology to better map out the value in your operations and customer management?
To learn more about the incredible power of ERPs, contact an Acumen resource planning expert today!