According to Make UK and PwC, more than four fifths of UK manufacturers believe that conditions in the sector are improving, with an increasing number indicating that the UK is becoming more competitive than its rivals in Europe.
The Executive Survey of UK manufacturers, undertaken in January 2024, also reveals that the industry is investing in expansion into new markets and seeing an acceleration of new digital technologies. In fact, this is seen by 71% of firms as a key means of booting operational efficiency. In their quest to expedite both product and process innovation, more than half (52%) see generative AI as a way of increasing workforce productivity.
But of course, digital initiatives are gaining momentum in numerous ways at variable speeds and for many, knowing where to channel investment is a challenge. In many cases, it’s dictated by legacy systems no longer supporting an evolved set of requirements, and a demand for higher quality, more real-time information from which to support decision making.
Whatever the driver for investment, and the order in which new technologies are embraced, having the right digital foundations in place is crucial. For manufacturers, this means having a modern ERP system which integrates all core processes and streamlines operations to deliver one version of the truth.
Systems such as Opera 3 SE not only eliminate manual processes but are fully integrated to facilitate easy access to key business information. This data agility means that decisions can be made quickly, freeing up time to focus on monitoring the market landscape, shaping strategy accordingly and driving the business forward.
Streamlined financials which track revenue and cashflow to ensure debts are minimised and profitability maximised. And through having the visibility across each area, across multiple entities and currencies, financial insights can deliver a unified view of the business.
Clearly the needs of a ball bearing manufacturer vary substantially to say, those of a cheese processing firm, so the right platform must be flexible enough to allow for some customisations and add on modules as needed. The right architecture ensures that third party apps can be added where needed. When it comes to growth and expansion it’s important to be able to switch relevant applications as needed to align capabilities with the right dynamics at a given time.
As Tim Scott from roofing leader, Foregale, highlights, digital is increasingly synonymous with optimising service levels to scale and gain a competitive edge:
“Opera 3 SE has surpassed our expectations in the benefits it is delivering. We took the decision to upgrade to facilitate better integration across our core systems but in fact, we are already seeing huge improvements in terms of speed and responsiveness. Sales Order Processing (SOP) is much faster which means we can respond to customer queries almost instantaneously. This in turn allows us to deliver a superior customer experience while fostering stronger relationships.
“Ultimately, Opera 3 SE is more than an upgrade. It’s a fast, responsive means of delivering on our customer promises and is a future-proof platform from which we can continue to run our business in the best, most informed way. Integrated with our other apps, we have every confidence that we can scale and pivot as the market demands.
“As a service-led organisation with a reputation for customer service, Opera 3 SE is the beating heart of our business and the capabilities it provides us with are pivotal in giving us a competitive edge and consolidating our position as a market leader.”
While the industry is awash with new technologies such as generative AI, machine learning and RPA, if firms are to ensure they’re in the very best position to capitalise on these in the coming years, they must get the foundations right. Opera 3 SE is leading the way amongst small and medium sized manufacturers, delivering integrated insights from which to optimise business operations, boost performance and establish a platform from which to drive the innovation to maintain the UK’s competitiveness, and prosperity, in the years ahead.
Posted On: May 08, 2024
