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The Grant Thornton 2024 Manufacturing Benchmarking report found that manufacturers with strong inventory turnover ratios averaged 8.5. Managing inventory with varied lead times requires careful planning and coordination to ensure materials are available when needed. Supplychain management can make or break Australian manufacturers.
And global supplychain bottlenecks seem to be easing. We have a client that’s currently auditing its 400 ERP user licenses to see if any can be deactivated or downgraded. And, when our client approaches the vendor with updated license counts, it’ll use pricing benchmarks to try to negotiate more favourable rates.
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