5 Benefits of ERP Software in the Manufacturing Industry
In the highly dynamic and extremely competitive manufacturing industry, it’s crucial to have an integrated software solution that will optimize efficiency, reduce costs and increase your sales and profitability. Also, that will allow for more strategic, calculated, informed and accurate decision making.
An ERP (Enterprise Resource Planning) technology simultaneously integrates your various business processes (resources, accounting, order management, finance, monitoring, sales, human resources, etc.) while providing the transparency, simplicity and control capabilities inherent to a single database.
If you are considering an ERP system to optimize and boost your manufacturing businesses’ growth, here are a few benefits that may help make that decision a little bit easier.
Automate, Manage and Streamline Business Processes
A robust ERP will optimize your business’ performance by simplifying and organizing your existing processes. All data is made available in a single centralized location with complete transparency into all functionalities. It can also reduce — and often remove — manual processes through automation, which can significantly reduce errors and their associated costs.
Any employee can track and monitor production activities in real time without having to rely on an entire team. Different departments can also track production, costs, material usage, ordering and more to make faster informed decisions that boost productivity and enable you to meet your commitments.
Enhance Customer Experience
ERP solutions drastically improve your ability to meet delivery deadlines and other customer commitments by giving you precise control over inventory, ordering and scheduling. Customers can view every step in the transaction in real time view, including status reports, which boosts efficiency across the board for both your business and consumers.
Minimize Costs and Improve Your Bottom Line
An ERP solution reduces or eliminates time-consuming, manual operational processes that often create lag and discrepancies in reporting. Streamlined processes and real time feedback optimize workforce productivity, reduce labour costs, enhance accuracy and precision so you can better manage supply chain / inventory costs. All this while providing you with complete transparency and control.
The business intelligence flowing from your ERP allows you to schedule, manage and oversee workflow without ever requiring production line to stop — resulting in more accurate decision making, fewer errors, better financial management, improved performance and faster execution of business processes.
Manage Your Supply Chain
Full visual transparency of your business’s supply chain is critical to avoid production disruptions or miscalculations. ERP solutions allow you to:
- Manage various vendors to order materials / components
- Maintain business productivity and optimize delivery times
- Monitor costs, budgeting, accounting and price changes when dealing with vendors
- Run daily reports
- Analyze and track supply chain and accounting spend
- Automate inventory restocking
- Identify errors / lags in problematic production areas
- Gain a 360 degree view of the whole business operations
- Establish HR modules and manage staff
- Work within various segments of the business and break down the bigger picture
Leading cloud-based solutions provide end-to-end business protection and application security — improving your resilience to corruption and security breaches. Because servers are located offsite and have multiple backups, the cloud also helps you avoid disruption due to natural / unforeseen disasters, power outages or anything that could potentially risk the integrity of your data or resources.
Selecting the Right Solution
The benefits of an ERP solution for your manufacturing business are significant and far reaching. But not every product in the marketplace will work for you or achieve what you need it to. When selecting an ERP, align yourself with an experienced provider that can implement, train, educate and inform you about the right application for your business.
To learn more about ERP solutions for the manufacturing industry, or to begin looking at what solution is best for you, contact Kerry Mann, National Leader, Enterprise Resource Planning at 647.480.8400 or [email protected]