Benchmarking studies with our customers show that companies that embrace the digital world and execute on their digital strategy outperform their average industry performance by 6-9%. Perhaps that is even conservative given what we are hearing from some of the more innovative mill products companies – including some from the metals industry such as Vectus – but more on that later.
The nature of the digital metal business is driving participants to synchronize their data and collaborate to deliver customer service excellence and a more agile supply chain, consistent quality level, process and energy efficient operations. With some of this new data – metals companies can actually analyze and make better decisions around key questions such as:
- What business segments can we lead in or be differentiated in?
- Which processes are better addressed through a partner in my network?
- How should we adapt continuously to changing market conditions?
- Where are profitable business models based on these new technologies?
- How can we capitalize on the demand for green products like recycling based goods while using or even generating sustainable energy at the same time?
- Which trends and technologies from adjacent industries such as consumer products or automotive are influencing the metals market?
Vectus is one company that is working with the SAP S/4HANA solution and partner vCentric Technologies as a platform that can deliver on these questions. Below is a bit more detail on how Vectus is doing this and here is a link to the full story and a video with multiple members of the Vectus management team
Vectus Industries: Reducing Operational Costs by 15% with SAP S/4HANA
What are some results so far?
* 15% Reduction in operation cost
* Real-time Year-end financial close (down from a few months
* 50% Faster access to and visibility of real-time data
* 60% Increase in operational efficiency