5 Challenges for the Manufacturing Industry in Carrying Out Its Operations

3 Minutes Read

May 21, 2024

Challenges for the Manufacturing Industry
In the course of industrial activities, business people are often overwhelmed in facing challenges for the manufacturing industry, such as inaccurate or lack of supporting data, negligence or lack of thoroughness in data sharing, machine problems that are not paid enough attention, and so on. As business people, of course they continue to try to find ways out of these challenges. Before we discuss the solutions to these challenges or problems that must be faced, there are several challenges that need to be considered in detail, including:

5 Challenges for the Manufacturing Industry that Business People Often Experience

A. Overwhelmed in Controlling Inventory

The bigger the company, the greater the demand for goods/products and the faster the flow of goods, the higher the number of errors or carelessness in data input. For example, when inputting large amounts of data, if done carelessly, it will result in different stock differences. Therefore, there is a need for supporting software or tools to control the movement of products or goods moving in the warehouse. The software needed for this problem can be called a Warehouse Management System or WMS. This software can help recommend or provide solutions for the layout of a product so that it can be controlled in a room or warehouse more efficiently and effectively. Apart from that, the input process that occurs when products come in and out of goods can use barcode scanning techniques, so that it can make it easier for users to select products and minimize input errors.

B. Difficulty in Setting and Managing Sales Targets

The challenge of targeting sales is a challenge that is difficult to define and manage. Apart from that, producers must also be able to analyze which industries are suitable to be designated as target markets that have the potential to become new customers. With the support of this software, the analysis carried out can help running industries achieve large sales targets for products. For example, software can display the top 5 customers by industry who have a big chance of becoming new customers. Of course, it really helps sales in determining sales direction effectively and efficiently.

C. Obstacles in Increasing Production Efficiency in the Field

When demand in the market increases and it is necessary to go through a long production process, then the administrative process in the field automatically has to go through a long process. So it is not uncommon for the ongoing production process and delivery to experience delays beyond the specified time. From this, business people certainly really need software or systems that can cover it all. For example, by using the shop floor application. This application can be used efficiently like a gadget or tablet, then it can also increase work efficiency in the field which can practically increase mobility.

D. Difficulty in Calculating Cost of Goods Sold

Some manufacturing companies really need information regarding the exact cost of goods sold. This information regarding this matter is very useful for the sales department, so that performance in this department can improve or be more progressive. Apart from that, there are also external factors that must be considered, such as foreign currency movements, material prices, and other factors.

E. Limited Ability to Predict Market Demand

Then the last thing that is commonly experienced is business people who do not utilize systems or software that can help run industrial operations, especially in looking at market trends which can be used as buffer stock. The result of this problem is that the goods produced do not match market demand.

The Best Solution to Overcome Challenges in the Manufacturing Industry

Running a business or industry is not an easy thing. Compared to other businesses, the manufacturing industry is a business sector that is very risky, both in terms of financial, environmental and even loss of life. This is because the manufacturing industry involves heavy equipment and dangerous substances. Therefore, to face the challenges of the manufacturing industry, there needs to be readiness from business actors such as a supporting system. With P2Energy Solutions, the challenges of the manufacturing industry will definitely be resolved immediately, because there are many features contained in P2Energy Solution by IFS, such as financial and accounting management features, geospatial data, land asset management tools, well life cycle management solutions, environmental solutions, health & safety and outsourcing services for the upstream and midstream oil and gas sectors.

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