Customers are placing substantial pressure on the shoulders of businesses worldwide. Increasingly, they are voicing their demand for products that are sourced, processed, and distributed in ways that bring environmental safety, economic freedom, and justice for all.

According to international intergovernmental organizations and nonprofits such as the United Nations and World Economic Forum, the disruptive change that businesses need to deliver can be found in the circular economy. This approach not only secures a socially conscious future but also unlocks the level of innovation and growth that companies want.

Considering all that’s at stake, it’s no accident that the majority of the world’s most valued brands have embraced cognitive and connected technology, such as Intelligent ERP, to participate in this emerging economy. They are consolidating their data-enabled power into a unified and expanding business network. Doing so evolves their operations into collaborative ecosystems that are more sustainable and ethical, while increasing resilience, improving profitability, and staying competitive.

Building the future of responsible operations with Intelligent ERP

As digital capabilities continue to mature with intelligent technology such as artificial intelligence, the Internet of Things, predictive analytics, and blockchain, companies increasingly realize the power of their real-time data and insights.

According to IDC, 50% of surveyed organizations will likely invest in new intelligent applications by 2022 to facilitate enterprise-wide, end-to-end workflows and remove white spaces between existing applications. Some of the gaps they are eliminating include buy-side approvals and routings, separate expense reports for manufacturing components, incoterm changes and updates, and inventory location and routing information.

Such appreciation is growing to the point where organizations see value in consolidating this intelligence at the core of the business and distributing it to the edge with Intelligent ERP. By delivering the agility, visibility, and traceability that collaboration brings, the technology empowers executives and employees to make sound decisions with greater ease and without limiting potential growth. Businesses can then balance both sides of the circular economy equation – social responsibility and competitive differentiation – whether they’re designing new products, reconfiguring existing offerings, managing and servicing assets with optimal performance, or running undisrupted production.

Krones AG: Harmonizing the collaborative intelligence of human and machine

One company that is taking advantage of collaborative technology to integrate sustainable practices into its entire value chain is Krones AG. Accounting for one-fourth of the world’s bottled products, the German packaging and bottling machine manufacturer covers everything from filling, labeling, and packing bottles and cans to taking back plastic bottles (PET) and processing them for reuse.

Krones is improving the collaborative effectiveness of its operations with a centralized Intelligent ERP. This tactic brings together the requisite knowledge of its ecosystem of machine networks, IT systems, and the collective genius of its employees, manufacturers, and suppliers.

By making this vast pool of relevant knowledge accessible anytime and anywhere, Krones is achieving considerable advantages such as:

  • Real-time tracking of production operations on a mobile device and independently of the location involved
  • Tried-and-tested solution options in the event of an operational malfunction
  • Employees who are empowered with mutual feedback and reciprocal support beyond the confines of lines, facilities, or time zones
  • Access to knowledge not available in the system in a contextualized form

Responding to a uniquely dynamic marketplace with a conscience

As Krones’ story reminds us, companies rely on their network of technologies and machines, in-house experts, suppliers, partners, and customers to run a business with a conscience for good. One-to-one relationships may continue to exist. However, seamless collaboration, enabled by Intelligent ERP, ultimately helps ensure that all participants in the production and delivery of products and services are working together to build a brand that customers can always trust.

Source Link: https://www.forbes.com/sites/sap/2020/12/08/erp-collaboration-the-magic-behind-a-companys-entry-into-the-circular-economy/?sh=2a0c698e5886

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