My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Technology

How can information technology help market manufacturing and service firms and what are its drawbacks so far in modern business today?

min read
Opinions expressed by Entrepreneur contributors are their own.
Wow these are good and insightful questions.

Overall, technology is important for a business--it helps you do more with less, save time, be more productive and gain intelligence on key business processes and metrics. For manufacturers in particular, you need to manage and have data on inventory, shipping, receiving, logistics, returns and a number of other "product" related information.

Technology can help you manage this much better than you could manage it without a proper technology system in place. If you have business processes at the core of your business, simply adding technology won't help. In fact, it might hinder things. Keep this in mind. If you need to get every penny from other business processes, a good technology system can help you monitor those costs and know where to invest and where to cut back.

Follow the examples of Wal-Mart and Dell. These retailers have thrived by cutting out as much waste as they can from the manufacturing and fulfillment process. Enterprise Resource Planning (ERP) products from SAP, Everest, Oracle, IBM and others can help.

Ramon Ray,
Editor and Technology Evangelist,
Smallbiztechnology.com

More from Entrepreneur

Kim's expertise can help you become a strong leader, pitch VCs for capital, and develop a growth strategy.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Are you paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.

Latest on Entrepreneur