In November, McKinsey & Co. released the findings from it’s Global Survey which indicates the supply chain issues manufacturers and distributors were worried about just before the downturn of our economy have shifted. Five years ago companies named their number one concern as managing the volatility of customer demand, which doesn’t even make the Top 5 in this new survey. Companies sited managing increased pressure from global competition, managing the increased expectations about customer service/product quality, and coping with operations associated with the complex patterns of customer demand as their top concerns.
Recent updates and additions to today’s leading business systems help companies better manage these issues, yet we have found that few customers take advantage (or know of) the functionality that may be available in their business systems. Statistics note that most companies use only 60% of the functionality that is available in their existing ERP system. One of the best things companies can do to ensure their investment in technology and systems is to conduct a thorough review of your business system every 3 years. This review will keep you up to date on recent enhancements and modules that are available that you might own (but are not using) or that could yield a high return on investment by adding functionality to solve your business issue. We’ve uncovered instances where a simple change in processing produced a quick fix for companies. A business review gives you the opportunity to discuss changing requirements with your vendor, and make the most of the investments you’ve made in your business systems. A business review can often produce quick results, be more effective and economical than sending a person to a user conference once a year.