The US manufacturing industry is rapidly evolving, with automation, ecommerce, new regulations, and global supply chains changing the way manufacturers – and their customers – do business. One key factor impacting this evolution is tariffs. Without a clear picture of the dynamics of your supply chain, it can be difficult to determine where you might be at risk due to increased tariffs. It can also be challenging to prioritize the challenges and determine the right course of action to address them.
If you’re trying to navigate an uncertain marketplace using spreadsheets and other manual processes, you’re most likely lacking the timely data you need to identify and address any tariff-related risks. Spreadsheets open you up to a host of challenges, including time-consuming data entry and the need to reconcile disparate sources of information. Your cost data and vendor information may reside in separate spreadsheets, making it difficult to identify your vendors who are most vulnerable to tariffs. And cumbersome, time-consuming reporting means that you might be relying on outdated information to make critical supply chain decisions.
An ERP solution like Sage 100 can help you understand the impact tariffs could have on your business. How? Sage 100 gives you real-time insight into your supply chain and lets you identify the potential challenges tariffs may create. Sage 100 can arm you with the information you need to protect your profitability. With up-to-date data and custom reporting capabilities, you can:
- Review your vendor list and rely more heavily on those not affected by tariffs
- Identify potential new sources of materials and establish a relationship with them before their capacity is maxed out
- Evaluate other, lower-cost options for materials affected by tariffs
- Use robust analytics to improve your resource planning and control costs
While you can’t control the laws governing your supply chain, an ERP solution can help you manage the uncertainty and react more quickly to the challenges brought by tariffs. If you’re ready to have a better understanding of how tariffs may be affecting your business, Sage 100 can help. Call MicroAccounting today at 855-876-3773 to find out more.