Technology is rapidly changing the way goods are manufactured, distributed and sold. Every industry is changing with old leaders being disrupted and left behind while new, faster, more agile enterprises are thriving. A decade ago, it would have been hard to imagine that an online book seller could completely upend the retail landscape and signaling the beginning of the end for retail sales. But Amazon did just this, and is now worth more than America’s 8 largest retailers combined.*
They did this by creating a new model of how people shop and the way that products and marketed are delivered. This ‘big data’ approach is not only driving successful retailers, it’s part of a greater movement that is having profound effects on supply chains and manufacturers and is fundamentally transforming worldwide competitive marketplaces.
At the manufacturing level, emerging smart technologies, are paying big benefits to the companies and brands that choose to evolve and grow with them, while those that insist on the status quo are being rapidly left behind.
Smart manufacturing, such as the FINS solution promises to be a paradigm shift for the Watch Industry, transforming from a traditional ‘push’ manufacturing that forced consumers to choose from whatever products were mass produced to a fast, flexible system that can respond quickly to marketplace demand and in some cases, individual demand. This transformation satisfies consumers who now demand more choices than ever and who are quick to favor producers that provide value-added services such as customization.
Manufacturers must take action to stay competitive. The ability to respond to these consumer demands and to create and distribute products faster, helps them stay ahead and smart manufacturing is the game-changer that is making it happen.
Smart manufacturing for the Watch Industry is realized by integrating supply, manufacturing, sales, and marketing efforts, by leveraging the power of cloud computing systems that connect every part of a company’s efforts. It combines the digital and the physical and makes all operations connectable. By integrating sales, productions, marketing and distribution, watchmakers can capture data over the entire product journey from procurement to customer. This Big Data overview produces manufacturing intelligence that lets brands quickly respond to market demands, something that is impossible with traditional ‘push’ manufacturing.
The efficiencies created by implementing a smart manufacturing approach, such as lean inventories and micro-production on demand, not only create actionable data, but have an immediate financial benefit – products are no longer produced, shipped and stocked based on past-performance projections but rather by real-time customer demand and Big Data accuracy.
This new model has already disrupted long-standing industries such as apparel & fashion and is quickly being adopted by other industries from auto manufacturing to luxury brands. The implications are huge and those companies that are at the front of this movement are already reaping the rewards.
For watch brands, who have in recent years suffered from the costs and inventory problems that plague traditional manufacturing, a golden opportunity exists to transform current operations into a lean, smart and profitable model. Using the FINS cloud-based ERP for the watch industry allows brands to quickly realize the benefits of smart manufacturing at scale. The system includes end to end supply chain optimizations, lean inventory efficiencies, cash flow improvements, powerful marketing features and the ability to synchronize online product customizations with production orders.
The FINS solution neatly connects all facets of the watch manufacturing supply chain….
FINS is an intelligent system that gathers real-time data and makes constant adjustments to maintain lean inventory levels that reduce carrying costs, increase production efficiencies and speed delivery. These adjustments have a dramatic effect – freeing up cash flow and increasing margins, something that is essential in today’s quickly evolving market.
It’s the first smart manufacturing product designed specifically for the watch industry and is leading a revolution in watchmaking, one that is transforming traditional companies into lean, flexible brands that are well equipped for competiveness now and in the future.
Register to try out our fully functional online live demo to see exactly what you get with
the FINS manufacturing software solution for the watch industry.