4 Critical Challenges Facing Industrial Equipment Manufacturers

December 19, 2019

Modern manufacturers cannot afford to ignore the challenges coming their way, considering the cut-throat competition and the rapidly rising market demands. According to experts at Infiniti Research, some of the key challenges faced by industrial equipment manufacturers include industrial equipment manufacturers can come across include an incomplete view of their profitability, lack of insight into the supply chain, and the means to collaborate productively across the various stakeholders. Although several industrial equipment manufacturing companies respond to these challenges by installing ERP systems, it may not be a complete solution to overcome these roadblocks.

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Errors in quotation

The quotation is one of the foremost areas of focus for any business. An inaccurate quote or costing prevents businesses from making adequate profits as either all the elements are included or even the client can be lost due to high costing. Sales personnel need access to details so they can provide the right estimate and quote to their customers.

Portfolio management

Portfolio management for industrial equipment manufacturers include creating premium support offerings, connecting service offers to business value, and launching new service offers. Making this challenge a priority will facilitate industrial equipment companies to take more responsibility for improving customer outcomes with offers and that would be required to prove their value in order to sell these offers.

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