Industry Insights for manufacturing, wholesale and innovation

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What is manufacturing?

Manufacturing is a process that results in the production of tangible goods. The two primary categories of manufacturing are discrete and process. Discrete manufacturers are assembling something using a bill of materials. Under the broad category of discrete manufacturing, there are varying production environments, depending on the type of product being made (e.g., make to stock, make to order, assemble to order, engineer to order). Process manufacturers are making products that cannot be taken apart; they are following a recipe. Process manufacturing typically results in bulk quantities of product that undergo a chemical conversion, such as paints, pharmaceuticals, food, and beverages. 

What is ERP?

ERP (Enterprise Resource Planning) is a software solution that automates common business processes, and integrates data across the core functional areas of a business, such as production, distribution, finance, services, R&D, and sales. An ERP system does not necessarily have to be a software system; it can also be a description of how the data and processes in a company are connected.

What is ERP project planning?

Since ERP systems are intrinsically complex, it means that ERP projects are, too. ERP project planning refers to all the activities required to successfully select and implement a new ERP system. Some of the major milestones include risk analysis, budgeting, goal-setting, product evaluation, project planning, and system implementation.

What is wholesale?

Wholesale companies handle large volumes of goods—never single products—and create the connection between manufacturing and retail. Wholesale focuses on bulk product sales to other companies, who are typically the retailers selling directly to end consumers. Some wholesalers may also manage product assembly prior to shipment. Wholesale is also known as trading or distribution.

What is tech and innovation?

Tech is an abbreviation for technology, which is the branch of knowledge referring to applied sciences and engineering. The term tech often refers to the information technology (IT) industry. Innovation is a new idea that, in some way, is functional and creates value. Innovation is also about creating change for society or a business. Innovation doesn’t always have to be a brand new idea or product. It can also refer to a new way of doing things, or a new way of using an existing product.