It’s no secret that technology is driving every facet of the world. This is the era where demanding markets require a cutting-edge solution that can support IoT capabilities and business intelligence functions.
Today, high-tech market leaders are looking to create a smart manufacturing environment that has the functionality to deliver insights while reducing downtime and improving product quality.
High technology or high-tech manufacturing is the process that uses the most advanced technology (which keeps evolving with time) to build an innovative product. Manufacturers in this field want to create big-ticket products such as connected cars, smart farming equipment, semiconductors, medical devices, robotics, and more.
The high-tech sector is rapidly growing, and companies in this arena need more from business software than just gaining visibility to operations. Robust intelligence engines need to be deployed as well as strong supply chain management functionality.
Manufacturing high-tech products is a tough task that involves complicated processes such as heat treatment, testing, inspection, fabrication, machining, and so on. High-tech manufacturing is associated with some unique challenges:
- Complex BOM – In the quest for excellence and innovation, companies are continuing to face challenges to manage the global supply chain. High-tech manufacturers must revolutionize the present version of goods into a better and smarter one. To create such products, high-end, complex assemblies and components are required that can be detailed and maneuvered by manufacturing and engineering processes.
- Obsolescence– The high-tech industry is the only sector that keeps evolving at a fast pace. Demand for new and innovative products keeps increasing and old versions are replaced leading to outmodedness.
- Huge capital investment – Electronic components such as semiconductors, chips, hard disks, etc. are transforming greatly under nanotechnology. The smaller the components are the more complex and expensive it is for manufacturing and quality control. Instead of running around in circles, it is better to adopt a state-of-the-art software that can bind every related operation together so as to make the most of investment done on creating the products.
- Unpredictable demand– Absence of proper collaboration tools, tracking the quality of parts and exposure to foreign currency risk are a few challenges that high-tech manufacturing industry faces during the transformation process.
The fast-paced high-tech world is moving at an unprecedented rate. For agile high-tech manufacturers, it is mandatory to select a good and full-fledged ERP solution that can help them grow by consolidating every file, report, and data on a single database to ensure that every department is on the same page.
In this blog, we’ve briefly summarized how ERP software can help you address the market opportunities in this sector and drive your business like never before. Let’s catch a glimpse of the opportunities that the high-tech industry provides –
- Demand for semiconductors, robotics, AI, nanotechnology, IT, and medical devices continues to grow in the coming years. Obsolescence will anyway, not hinder the evolution of new technology and production of a great range of high-tech products.
- The digital thread is creating a connected flow of information that brings together the processes and data that were once siloed. Digitization has allowed high-tech companies and manufacturers to capture and scrutinize the amount of data to deliver dead-on vision and tasks in real-time.
- With the increase in demand for consumer electronics, instrumentation, and telecommunication segment, semiconductor consumption is likely to increase. Investment opportunities are high in telecom products, Semiconductor Design, Industrial/ Consumer electronics, and other electronic components.
Needless to say that precision and agility are paramount in the high-tech sector. Whether you are a manufacturer of semiconductors or original equipment of the most high-tech equipment in the industry, there is a specific set of processes that are ought to be followed. Most of the small and mid-sized businesses are inclined towards including a full-fledged and powerful Enterprise Resource Planning software that can align well with the business models.
How can ERP add value to your business?
ERP is a powerful suite of business tools that emphasizes the fast-paced operations in a manufacturing unit. It creates an agile and nimble platform that handles ambit of tasks such as production, quality, finance, sales and marketing, warehouse management, supply chain planning and so on. Considering the fact that every business has a different style of working, it is better to take time to research about what ERP will fit your business and cater to its processes seamlessly.
Technology has bestowed us with ample of advantages. It has spurred globalization and encouraged development. The market keeps on evolving. From computers and desktops to MP3 players and play stations, every product in high-tech sector needs a revamp after a period of time. Designed to meet varied operational and business needs, ERP lets you automate data and knowledge transfers while managing departments such as sales and finance, production, quality check, accounting, purchase and procurement, project management – just to name a few.
Get through the competition
Every day, every week, every month, we hear about a new product launch. There will be innovative products hitting the market – you have to keep up with the competition and for this, ERP is the key- you can plan, manage, execute, track and gain control of every operation taking place in your organization.
ERP is an ideal solution that reconnects disparate files and processes. However, it is very important to search for the most suitable software that can meet the entire range of organizational requirements.
Choose a modern cloud ERP platform for better performance
Modern cloud eliminates the need for a cumbersome legacy architecture that acts as a barrier in the way of growth and innovation. As more and more companies are going on the cloud, small and mid-sized businesses are under pressure to migrate to the cloud solution to stay competitive, agile, and innovative.
When your company uses state-of-the-art functionalities such as cloud, IoT connectivity, big data analytics, and digitized supply chain, it will minimize the bottlenecks and roadblocks while enhancing effectiveness.
High-tech solution for the high-tech industry
High-tech manufacturers often seek better and more advanced solutions that can enhance customer satisfaction and retain them in a long run. OptiProERP is a ground-breaking ERP solution that has been carefully created by SAP-certified consultants and technology partners to provide you with all the latest features and tech-driven functionality to drive a business productive environment.
OptiProERP with SAP Business One builds a digital and compelling workplace that lets your employees accomplish the work in a streamlined manner. It is embedded with inventory functionality that supports serial and lot tracking, checks the usage of primary and secondary BoM, manages subcontracting transactions, and whatnot. Modules of OptiProERP with SAP Business One include – finance, sales, and accounting, purchase, production, warehouse management, supply chain planning, quality assurance, project management, business intelligence, etc.