While the operations of the factory floor are key to success in manufacturing, the supply chain is the lifeblood of manufacturing profitability. To be effective even in uncertain times, supply chain management visibility and control must be bidirectional. Whether upstream or downstream, efficient pricing of purchased and sold materials and goods can make or break a manufacturing business.
And margins at both ends are getting thinner.
In this environment, manufacturers must more accurately forecast trends and demand planning. This will help optimize pricing for the huge competitive advantages that can provide. Beyond pricing, high-performance profitability analysis can improve margins—but only if the data can keep up with the speed, complexity, and volume of supply chain operations. Without near-real-time insights on pricing, many fleeting opportunities will be missed.