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Business Trends that Would Rule the Roost in 2019
Industries have witnessed a massive transformation in 2018 and explored new and fresh ways to grow their business. Given this changing landscape, companies are looking forward to tackling the challenges by adopting the right technology to work thereby transforming the challenges into opportunities. Here are four potential opportunities for growth.
• Macro-Economic Changes
Uncertainty is challenging but can be fruitful at times. Here, the local businesses that are agile, and can adapt to changes quickly tend to reap the rewards in the future. A challenging environment is often an excellent opportunity for those who are ready to set up as they can respond quickly and adapt to market changes. Moreover, Enterprise Resource Planning software is enabling manufacturers to adjust their entire supply chains to be prepared for the ups and downs in a market environment.
• Big Data Bandwagon
Technology cannot fix all the problems. With the advent of new technology, there is an introduction of new data, and therefore manufacturers are expected to use this data in the best possible manner instead of piling it up with them. Smart manufacturers may use ERP systems to generate real insights, and many will be seen using predictive analytics to pre-empt shortages or high demand in the supply chain.
• Embracing the Cloud technology
According to the International Data Group, 73 percent of enterprises have some portion of their computing infrastructure in the cloud. Despite this technology’s prevalence everywhere, manufacturing has been relatively slow to adopt it. As per a few reports, cloud computing can provide at least 25 percent of the total inputs that go into the finished manufacturing products.
• Bridge the gaps with Robots
Adopting and implementing new ways of technology can help businesses to maintain and improve production levels. Integrating robotics in the existing infrastructure can help in automating repetitive tasks; they are a perfect substitute for strained workforce from manual labor.
Businesses are usually under pressure to recruit the right talent, and the adoption of automation can be advantageous for the industries. Artificial Intelligence and Robotics are vital for a significant and essential investment for millennial, and also with software solutions like ERP enabling the investments, a business can maximize their benefits and turn all the challenges into opportunities.