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Insights from PwC's Solver Series: Manufacturing Roundtable
Hosted at Dreamforce 2023
At Dreamforce 2023, PwC and the Salesforce solution engineering team took the opportunity to host an informative discussion focused on ways manufacturing companies can offer new, flexible pricing and contracting options to customers, helping unlock valuable data from their enterprise resource planning (ERP) and solve key issues in the sector.
Manufacturing companies across the globe are grappling with a confluence of issues affecting their productivity, supply chains and revenue. During the roundtable discussion, PwC and Salesforce showcased how you can solve multi-variable pricing methods commonly used in manufacturing and the supply chain; revealed insights into how Salesforce Revenue Cloud can add a vital layer to ERP systems to help provide added flexibility; detailed how allocation teams can gain greater visibility into product availability; and shared learning for increased revenue predictability in the sector.
These are the key takeaways from the discussion:
Manufacturers under pressure
The manufacturing sector globally faces a wide range of challenges that are affecting their revenue, profitability and operations. However, speakers were quick to point out that the manufacturing sector is not alone in dealing with many of the challenges facing its operations. According to PwC's Pulse Survey, issues such as revenue growth, margin improvement and revenue predictability are top-of-mind for many companies, with greater investment into customer experience transformation one of the measures used to address these challenges.
The most recent PwC Pulse Survey revealed that 70% of companies are very concerned about the impact of macroeconomic conditions on their business, while more than half (53%) are shifting the focus of their investment strategies to margin-improving projects. Nearly half (47%) are also building predictive models to assist with forecasting.
Focus on efficient RevOps to help address pricing and product issues
PwC provided a perspective on helping address the challenge of pricing and product focus. The answer? More efficient revenue operations (RevOps).
PwC’s strategy for addressing this challenge is to create the ultimate formula for margin improvement, predictable revenue and digital customer experience transformation. Salesforce Manufacturing Cloud can provide account-level forecasting for better planning. And with PwC’s capabilities for supply network and logistics planning, manufacturers can help unlock product-level forecasting to provide even greater revenue predictability without impacting ERP processes or jeopardizing compliance.
CRM and ERP can help transform the customer experience
Manufacturers often face the dual challenge of product-focus and customer-centricity. For many, the key to transforming their customer experience lies in bringing these two elements together by integrating front-office and back-office data and business processes. By leveraging ERP data to help support their customer relationship management (CRM) processes, manufacturers can deliver superior customer experiences while maintaining compliance. It's not about replacing or disrupting the years of ERP or forecasting application development that exists, but enhancing customer and partner engagement through better utilization of data.
What’s next?
Are you seeking to make the leap to more digital, dynamic and efficient manufacturing operations? Are you striving for greater revenue predictability, or looking to elevate your customer experiences? Reach out to us to start your journey toward more efficient, flexible manufacturing operations today.
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