write not more than 1000 word assignment relates to S

The industrial manufacturing industry confronts multiple challenges, from creating global growth models that will ensure differentiated products and services for its customers, to maintaining margins in the face of rapidly rising costs and pricing pressures. It is how they respond to these challenges that separates the high-performance businesses from their competitors in this market space

Technology is advancing rapidly, and forward-thinking manufacturers are embracing the digital evolution. They are adopting new technologies in order to stay relevant, innovative and competitive. One of these important technologies is the use of SAP ERP’s for the manufacturing industry.

SAP was founded in 1972 by five former IBM engineers, and is one of the largest global vendors of Enterprise Resource Planning (ERP) software.It offers industry-specific ERP solutions that support business processes across procurement, manufacturing, service, sales, finance and human resources.

Key components of the SAP for Industrial Manufacturing asset include:

• Value targeting and business case materials including modeling tools and templates
• Industry-leading practices and process detail including a repository with industrial-leading practices and a process model that encompasses make-to-stock to engineer-to-order industrial companies.
• SAP solutions including a comprehensive list of over 2000 industrial requirements along with corresponding SAP solutions.
• A detailed execution guide providing step-by-step instructions for how to execute a blueprint and implementation phases.
• Pre-delivered content that represents all deliverables for a typical implementation, including designs and position papers on key business process decisions.
• A working SAP system to demonstrate leading industrial manufacturing solutions and provide a template for client solutions.

The SAP for Industrial Manufacturing asset provides solutions for the following key industrial manufacturing business requirements:

• Product Management - Streamlines the process for introducing new products and Integrates management of product data and engineering change control.
• Supply Chain Planning - Fully integrates, end-to-end planning processes from forecasting to MRP across the enterprise and enhances the ability to understand and respond to demand variability and demand-mix changes through improved forecasting capabilities.
• Supply Chain Execution - Effectively manages global suppliers and improves pricing controls by utilizing long-term contracts, scheduling agreements, and vendor information.
• Manufacturing - Enables both lean and traditional manufacturing strategies through production scheduling and MRP processes and fully integrates inventory management processes and data.
• Sales and Distribution - Provides unit serial level status for quote, order, production, shipping, invoicing and transportation steps and presents inventory visibility for end customers and dealers for finished goods at unit serial level across the internal and external network.
• Finance - Consolidates enterprise financial reporting globally across multiple companies with multiple finance applications and  supplies product costing and profitability analysis at serial unit or product level

Conclusion- The benefits that can be derived from implementing a SAP ERP system in your manufacturing business far outweighs its cost in the long-term. Relying on outdated software when your competitors are embracing the Internet of Things (IoT) and adopting innovative technologies will hold you back and eventually stifle the life out of your business.