Industrial Manufacturing | Paramount Technologies

INDUSTRIAL MANUFACTURING

The Manufacturing sector comprises establishments engaged in the mechanical, physical, or chemical transformation of materials, substances, or components into new products. Establishments in the Manufacturing sector are often described as plants, factories, or mills and characteristically use power-driven machines and materials-handling equipment. However, establishments that transform materials or substances into new products by hand or in the worker's home and those engaged in selling to the general public products made on the same premises from which they are sold, such as bakeries, candy stores, and custom tailors, may also be included in this sector. Manufacturing establishments may process materials or may contract with other establishments to process their materials for them. Both types of establishments are included in manufacturing.

The industrial manufacturing sector provides the equipment found on factory floors around the world. Its products help manufacturers large and small do more with less. More power with less footprint. More control with less labor. More output with less cost.

The manufacturing sector is large and diverse, but most sector players face similar challenges. Increased costs for oil, natural gas, steel and copper are squeezing margins, unless offset by pricing and surcharge increases. Customer reluctance to invest in new equipment has intensified the importance of aftermarket service.

How Employee Workforce Automation Can Help

Paramount’s WorkPlace Suite helps manufacturing companies improve cost control and sourcing quality:

Ability to track requisitions against budgets, receive warnings if over budget and route for approval based on a requisition line item exceeding the budget
Easy-to-use yet powerful requisitioning capability that can reduce requisition-to-order costs and cycle time and control maverick spending
Ability to streamline the acquisition of all types of goods and services, both the direct procurement of raw materials and production goods, and the indirect procurement of maintenance, repair and operating (MRO) supplies as well as capital goods and services
Powerful, easy RFQ capability whereby requisitions can be sent to multiple vendors with an email notification, vendors can complete quotes online, and all quotes can be reviewed and awarded based on defined criteria
Powerful Vendor Contract capability allows your organization to enforce purchasing contracts established with specific vendors