6 Trends Transforming the Steel and Metals Industry

Advances in technology have transformed many business sectors. Many businesses in the steel and metal industry have taken a wait-and-see approach, which has probably saved them from making costly mistakes. Traditional enterprise resource planning (ERP) solutions haven’t offered the right mix of features and functions to suit this industry, until now. The timing is right for steel service centers and metal manufacturers to upgrade business management systems. The right technology will support your business as you compete in this fast-paced digital era.

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You aren’t alone if you’ve hesitated to update business systems. While many modern ERP solutions offer powerful functionality, they haven’t been able to align well with the complex operations of steel service centers and metal manufacturers. The good news is that advances have been made and technology has finally caught up with the unique needs of this business sector.

As highlighted in “6 Trends Changing the Game for Steel Service Centers and Metal Manufacturers,” the time has come for steel and metals companies to embrace modern technology. Here are six ways an integrated business management solution, like RealSTEEL, will support your business better:

  1. Improve data visibility: The volume and type of data being generated in the steel and metals industry is growing exponentially. A modern, integrated business management solution is essential to harness and leverage data to your competitive advantage. Gain visibility into the data you generate daily and use it to optimize operations, reduce waste, capitalize on new opportunities and respond faster to exceptions.
  2. Internet-driven pricing: In this digital era, you need to be able to move at the speed of the internet. Centralizing data within an integrated system expedites decision making and enables you to understand how to differentiate your business from competitors.
  3. Streamline operations, boost profits: Time-saving workflows and other automations in modern business systems will simplify calculations, optimize inventory and production activities, and increase productivity and profitability. Eliminate redundant and manual processes that decentralize data and burden your resources.
  4. Value-added specializations: Serving a niche market and expanding product lines will distinguish you from competitors, but can also put pressure on profit margins. Today’s business management systems can track costs accurately, including changing material and production variables, customer specifications and outside processing. Precise calculations yield stronger profits.
  5. Exceed customer expectations: Customers have high expectations and you must make it easier for sales, customer service, and other employees to access data quickly and respond faster to customer needs.
  6. Strengthen compliance efforts: Steel and metals businesses are familiar with safety, environmental and traceability compliance obligations. The time needed to manage this important information shouldn’t be complex or impact profits. A modern business system will
    automate data and documentation to support changing compliance and regulatory requirements.

Off-the-shelf ERP systems can’t support the challenging and complicated operations of steel service centers and metal manufacturers. RealSTEEL was designed specifically for this industry to streamline selling, purchasing, production, inventory, planning, and fulfillment.

By The Wolcott Group, providers ofRealSTEEL, ‘real world’ ERP for the steel and metals industry