Many fear the effects the Age of Uncertainty will have on manufacturers. With the rise of GDPR, changes in tariffs, and a variety of other regulations, it's hard for businesses to keep up.
Microsoft's article, 2019 Manufacturing Trends, gives some tips about what manufacturers can expect, how to better manage risk, increase flexibility, and easily scale your business. Here's the summary:
Cyber security is a major concern for businesses across every industry. Now that General Data Protection Regulation (GDPR) has taken effect in the E.U., you are responsible for upholding the strict security and privacy rules associated with your customer's personal data.
Not only are you trying to protect the privacy of your customers, but also the data associated with your employees and your business. Microsoft found that 78% of business are concerned about the protection of their data, but there are systems out there that can help.
Many people don't know the security benefits of storing data in the cloud. Platforms like Azure provide the transparency needed to manage security risks while maintaining industry-leading regulation compliance and security.
The Quick Pivot
You know that your manufacturing business can't remain stagnant. The fast moving, quick changing market makes it difficult for businesses to keep up in this world of uncertainty.
It's crucial that your business is able to adapt to changing market conditions quickly. Many organization chose ERPs that are great for today but aren't flexible enough to prepare them for the future.
Stay ahead of your competitors by implementing systems that pivot your business quickly. Chose a platform that allows you to deploy changes where and when you need to.
The Age of Uncertainty is creating a bumpy road that tests manufacturers ability to scale to meet demands. This is especially true if you are selling to customers in other countries.
Differing economies impose a unique challenge to scale only parts of your business up or down to match changing demands. Platforms like Dynamics 365 have cloud deployment options to make it easier to scale your business.
Expanding your business is also made easy with the right platform. Some allow you to duplicate an instance and copy to a server in the country you want to expand business to.
Don't Be Caught Off Guard
Every business is feeling the pressure from the Age of Uncertainty. The market changes quickly and there are so many factors contributing to customer demand.
What makes you business different is being prepared to react. If you have any questions about what steps you should take to make your business more flexible to change, reach out to us.