The COVID-19 pandemic has upended industries worldwide, forcing business leaders to look closely at existing practices and assess their future viability. This disruption has been especially pronounced in manufacturing supply chains, where manual distribution and risk management are essential. 94% of Fortune 1000 companies are seeing supply chain disruptions, Forrester reports, where “we are witnessing the damage created by not accounting for… third-party risks.”
The pandemic has both short-term and long-term implications for manufacturers as they respond on multiple fronts at once—protecting operational viability and sustaining a historic shock to their supply chains among them. Fortunately, high-value digital solutions can help enterprise manufacturers both cope with the short-term challenges of the COVID-19 crisis and accelerate business growth—and the Rainmaker Manufacturing Framework is at the forefront of this transformation.
Aligning Digital Technology Adoption with Industry 4.0
In the early aftermath of the pandemic, manufacturers’ initial supply chain challenges revolve around securing the resources they need for quality and service continuity. “Initially, plant managers and factory owners will be looking to secure supplies and be getting an appreciation of constraints further up the supply chain plus how much influence they have on their suppliers,” explains Michael Larner, Principal Analyst at ABI Research.
But beyond mitigating the immediate impact of COVID-19, they must be prepared to build lasting resilience into their supply chains against future crises. “In the longer term, manufacturers will need to conduct an extensive due diligence process as they need to understand their risk exposure, including the operations of their supplier’s suppliers too,” ABI Research reports. Actions and investments now must factor in similar disruptions in the future, at equal or greater scales.
To succeed, manufacturers must realign their Industry 4.0 transformation initiatives to include supply chain visibility and risk management. “COVID-19 demonstrates that manufacturers need to be as focused on their supplier’s capabilities as they are on their factory floor,” says Larner.
Manufacturers are prioritizing ERP adoption as part of this emerging trend. ABI Research predicts ERP adoption will reach US$14 billion by 2024, driven by interest in their inventory control and supply chain management features. And manufacturers will increasingly turn to specialized ERP providers to meet their unique demands.
Seven Rainmaker Manufacturing Framework Value Propositions Following COVID-19
Here we highlight seven key business areas directly impacted by the COVID-19 crisis, where shortcomings have been exacerbated, emphasizing a need for long-term solutions. We’ll also illustrate how Rainmaker Manufacturing Framework (RMF) supports business value in these areas.
Sales & Independent Rep Enablement. Manufacturers need clearer estimates for available inventory, both to bridge productions gaps and to provide sales teams with the clarity they need to deliver on customer needs. RMF helps align coverage and sales rep opportunities, allowing them to prioritize and adjust their value propositions for target accounts.
Sales & Operations Planning. Demand planning teams need analytical tools to find reliable demand signals and align them with available product supply. RMF boosts sale and operations planning, aligning volumes and timing of demand down to the part number. RMF interacts with all products—from end-of-life to new ones—to prevent slow movement and avoid delayed time to revenue.
New Product Development: Crises may increase or lessen demands for specific products, but they also create demand for upgraded or entirely new ones. RMF helps manufacturers integrate market intelligence and achieve the quality, manufacturability, and rigor they need to develop a pipeline of viable new product solutions.
Macro-Micro Market Data Analysis. Manufacturers must consider inputs ranging from world trends to individual customer characteristics to optimize market positions, especially in the event of future large-scale disruptions. RMF prepares manufacturers with predictive tools for market and product forecasting—aligning marketing, design engineering, and sourcing teams with successful long-term initiatives.
Total Cost of Quality. Manufacturers can no longer rely on consistent costs associated with delivering quality to customers as disruptions to supply and delivery affect operations. RMF provides manufacturers with the insights they need to prevent both poor quality for customers and exorbitant costs in value delivery.
On-Time Delivery. Manufacturers need real-time insights into delivery outcomes for customers. RMF allows manufacturers to track customer demand dates and measure KPIs associated with product delivery and customer response.
Slow-Moving & Obsolete Inventory. Manufacturers cannot lose value from risks and inefficiencies associated with slow-moving and obsolete inventory. RMF helps manufactures keep sales team alerted and reduce design and operational shortcomings.
Rainmaker Helps You Navigate the Post-COVID-19 World
Market volatility is nothing new, but manufacturers need agile, real-time tools to help cope with future disruptions. Rainmaker partners with hundreds of enterprises to deliver high-level business solutions that accelerate growth and transform the customer experiences. Contact us using the form below and discover how the Rainmaker Manufacturing Framework can help you begin driving long-term business value today.