A new year brings new priorities in the world of manufacturing. A new calendar often is accompanied by new budgets, new business plans, and new goals to help set the direction for the year to come. Interestingly enough, evolving trends in the industry are veering toward a focus on e-commerce. Emerging technologies are often the cause for the disruption of long-held manufacturing practices, but they are also opportunities for companies to capitalize on a shifting consumer base and fast moving economy.
Today’s article will take a look at online sales in the manufacturing industry, and how emerging technologies are shifting the landscape for businesses in the U.S.
New Technology and Software
Modern manufacturing covers a wide range of products and services in order to remain competitive on a global scale. In response to an ever changing need, enterprise software has been needed assist with operating worldwide supply chains. While it’s true that the majority of existing enterprise software programs are not used to expand into the digital retail space, manufacturing companies on the cutting edge are rethinking their programs. They are looking for ways to differentiate their offerings and increase revenue through direct, online sales.
Increasing Aftermarket Parts Sales
If you are an equipment or parts manufacturer, you know that more than $1 trillion is spent to maintain existing assets. Parts and upgrades to existing equipment are one way in which the manufacturing industry can make the most of increased consumer spending online. The product is easily identifiable and sourced online, making the sales process that much simpler. A customer looking for a specific part is unlikely to want to waste time looking for it in person, and in many cases prefers the ability to search and purchase an item directly.
Customized E-Commerce Solutions
E-commerce is certainly not a one-size-fits-all business. Each company has unique and tailored needs of an online sales management process. Equipment manufacturers require detailed and searchable databases to manage their stock of hundreds or thousands of parts. Others might have less requirements of database management tools due to reduced inventory or targeted focus. Regardless, there are options available for almost every unique e-commerce scenario a company can provide.
Integration with the Internet of Things
Big data is another up-and-coming technology that is set to revolutionize how manufacturers do business. Smart factories are connected and communicating in ways that often surprise industry workers. Efficiency levels and product output are likely to see an increase as downtime is reduced and sensors provide real-time diagnostics. As manufacturing branches out into the digital era, businesses are also interested in providing much more intuitive sales systems so that clients can order the product they need efficiently and cost effectively. The opportunities available within the realm of e-commerce are truly exciting. Make sure that your business is also on the front line of new trends for 2016.