Grow your manufacturing business through digital innovation

By Horsfield & Smith Chartered Accountants

11 Aug 2021

The UK manufacturing industry is currently experiencing a huge shift in the way it runs its manufacturing processes – increasing competition is putting pressure on organisations to reduce costs, improve customer experience and increase profitability.

Digital transformation enables manufacturers to collect data in real time from each area of the business so that they implement a transparent workflow where data can be analysed for better decision making.

Manufacturing companies are constantly seeking ways to better understand who their customers are – manufacturers need to be thinking about how to improve productivity throughout their entire supply chain.

What is Digital Manufacturing?

Digital manufacturing is using technology and software to link systems and processes together to create an integrated workflow.

There are three main areas of digital manufacturing:

Product Lifecycle

The digital product lifecycle merges together all stages of the supply chain management and customer relationship management.

Product Lifecycle Management (PLM) refers to the management of data and processes used in the design, engineering, manufacturing, sales, and service of a product across its entire lifecycle and across the supply chain.

Smart Factory

Industry 4.0 has been driving manufacturing businesses towards a more responsive, adapted and connected manufacturing process.

The smart factory enables manufacturers to jump forward to a fully connected and flexible system, enabling them to adapt to new demands. Smart factories are flexible and have the scalability to grow to meet the changing needs of an organisation.

Upgrading to a smart factory requires input and support from every aspect of a business from board members to IT, so that an organisation can identify the main areas that need to be upgraded.

Value Chain Management

The purpose of value chain management is to increase product efficiency so that an organisation can deliver the highest value for the least possible cost – it focuses on reducing the product lifecycle time whilst maintaining quality and ensuring customer satisfaction.

What Are MRP Systems?

Material Requirements Planning systems (MRP) manage materials, inventory, plus other variables that impact production – they are computer based inventory management systems.

With the right MRP system in place, manufacturers can streamline their planning, production and inventory control, thus eliminating manual Excel spreadsheets and human error.

Conclusion

Manufacturers need to embrace the digital shift to remain successful and competitive.

Due to the Covid pandemic and Brexit, it is now even more imperative for manufacturing businesses to transform to digital processes, creating greater efficiency and better relationships between producers, suppliers and customers.

We have the expertise and knowledge to advise you on the right inventory software solution for your business. Please contact Lee Sugden or Mark Tooby on 0161 761 5231 or email [email protected].

Latest news

1

Napthens advises Calico Homes on land acquisition for £23m Dovestone Gardens extra care facility in Burnley Paul Hardy

Napthens advises Calico Homes on land acquisition for £23m Dovestone Gardens extra care facility in Burnley

21 May 2025

2

Construction begins on new Civil Service office building in Talbot Gateway Alan McBride Muse Will Town Defence Infrastructure Organisation Jennifer Chard Defence Business Services Cllr Lynn Williams Blackpool Council Garry Bowker Vinci

Construction begins on new Civil Service office building in Talbot Gateway

20 May 2025

3

Skiddle raises over £750,000 for charities Skiddle cheque presentation to Alder Hey Hospital

Skiddle raises over £750,000 for charities

20 May 2025

4

Former Victorian Hotel approved for residential conversion The site

Former Victorian Hotel approved for residential conversion

19 May 2025

5

REVOLUTION PARK: Work starts on Darwen’s new home of advanced manufacturing Oliver Webber, Tracy Clavell-Bate and Tim Webber from Barnfield Group with Cllr Phil Riley, second from right, Leader of Blackburn with Darwen Council

REVOLUTION PARK: Work starts on Darwen’s new home of advanced manufacturing

19 May 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
LBV122 May/June Launch Event
121 Lancashire Business View Magazine Launch
Networking
21 May 2025

LBV122 May/June Launch Event

Lancaster and Morecambe College, Lancaster, LA1 2TY

08:30 - 10:30

Sub36 Networking
Networking
11 Jun 2025

Sub36 Networking

British Jewellery School, Scorton, PR3 1BA

15:00 - 17:00

Lancashire Net Zero Carbon Conference
Net Zero Carbon Social 1200pxtrident 2
Networking
18 Jun 2025

Lancashire Net Zero Carbon Conference

Crow Wood Hotel & Spa Resort, Burnley, BB12 0RT

08:30 - 13:00

Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

RISE - The Academy for Female Leaders and Managers
WENDY BOWERS RISE Illustrstion copy.jpg.jpg
LBV Hub Seminars
02 Apr 2025 - 08 Oct 2025

RISE - The Academy for Female Leaders and Managers

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:00 - 15:30

Amber River True Bearing quarterly investment seminar
LBV Hub Seminars
22 May 2025 - 22 May 2025

Amber River True Bearing quarterly investment seminar

Cottons Hotel & Spa , Knutsford, WA16 0SU

16:00 - 18:00

The Business Network Central & East Lancashire
LBV Hub Networking
22 May 2025 - 22 May 2025

The Business Network Central & East Lancashire

Mytton Fold, Langho, BB6 8AB

11:30 - 14:15

Preston Freelancer Meet-Up: May
Freelancer Meet-Up May.png.png
LBV Hub Networking
22 May 2025 - 22 May 2025

Preston Freelancer Meet-Up: May

society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Liverpool Business Expo 2025
https---cdn.evbuc.com-images-881365363-4862066883-1-original.20241023-085714.jpeg.jpg
LBV Hub Awards
23 May 2025 - 23 May 2025

Liverpool Business Expo 2025

Aintree Racecourse , Liverpool , L9 5AS

09:00 - 15:00

Advantage: AI – A Workshop for Business Leaders – May 29
Artboard 15.png.png
LBV Hub Seminars
29 May 2025 - 29 May 2025

Advantage: AI – A Workshop for Business Leaders – May 29

Door4 Office, Burnley Wharf, Manchester Road, Burnley, BB11 1JG

09:00 - 11:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV122 Online Graphic
Subscribe now

Weekly news bulletin