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Current Situation in the Manufacturing Industry
Statista shared the current state of Manufacturing in the Philippines, stating that the country is on its way to becoming an emerging manufacturing hub in Asia, and with the sector continuing to contribute the highest share of the country’s gross domestic product (GDP). Exported manufactured goods were seen to have increased in recent periods as the Philippines integrates into the global manufacturing supply chain and invests in upskilling its current workforce. However, various factors continue to challenge the resurgence of the manufacturing industry, as the country remains import-dependent for its raw materials.
Based on World Bank data, manufacturing contributed, on average, 18% to the country’s Gross Domestic Product (GDP) from 2018 to 2022. In recent years, the Philippines has been taking proactive steps to boost the advanced manufacturing sector through initiatives such as the Manufacturing Resurgence Program, which seeks to reinvigorate and expand industry capacity and competitiveness through a host of innovative strategies, like improving interagency collaboration, reducing the cost of transportation and logistics, and resolving supply chain gaps.
Challenges the Manufacturing Industry Face
Inaccurate Order Fulfillment
Without streamlined order management processes, there’s a higher risk of inaccuracies in order fulfillment, leading to incorrect shipments, returns, and ultimately, customer dissatisfaction.
Production Planning and Scheduling
Optimizing production schedules and aligning them with demand forecasts can be challenging, resulting in overstocking, underutilization of resources, or missed delivery deadlines.
Inconsistent Quality Control Processes
Maintaining consistent product quality across different production batches or manufacturing facilities becomes challenging, leading to quality variations and potential compliance issues.
Inventory Management
Balancing inventory levels to meet demand without overstocking or stockouts is a constant challenge for manufacturers, impacting working capital and profitability.
Cost-Control and Savings
Businesses struggle to negotiate favorable terms, identify cost-saving opportunities, and optimize procurement spending, leading to higher costs and reduced profitability.
Why ITG for Manufacturers
ITG provides growing manufacturers with powerful tools to oversee and manage all aspects of their operations from a single, centralized platform – from the shop floor to the top floor.
Real-time Order Tracking
With ITG, businesses gain real-time visibility into order status, inventory levels, and shipment tracking, enabling proactive decision-making and providing customers with accurate delivery updates.
Efficient Planning and Scheduling
Optimize production schedules, minimize downtime, and improve resource utilization, resulting in cost savings and improved on-time delivery performance.
Improved Quality
With ITG, manufacturers can monitor quality metrics and performance indicators, enabling proactive identification of quality issues and continuous improvement initiatives.
Inventory Control
Inventory management systems with forecasting and demand planning capabilities enable manufacturers to optimize inventory levels, reduce carrying costs, and improve inventory turnover rates, leading to improved cash flow and profitability.
Reduce Cost
By providing insights into spending patterns, supplier performance, and procurement metrics, ITG enables businesses to identify cost-saving opportunities and negotiate better terms with suppliers.
Flexibility for Dynamic Manufacturing Processes
Our solutions are designed to streamline workflows that allow you to manage your overall supply chain process efficiently, all while providing unparalleled visibility into your operations.
Explore our Solutions tailored-fit to your business needs.
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