[August 2015] Manufacturing is becoming more competitive than ever, and keeping up with tracking software and analytics can be a big challenge for a rapidly growing business. It’s crucial to spend resources on production rather than keeping your head above water with outdated technology solutions.
Enterprise resource planning (ERP) offers software solutions that are designed specifically for the manufacturing industry. These solutions offer manufacturers a single, intuitive channel through which they can track, manage and optimize all facets of business. This creates more opportunity for optimizing productivity, saving time and costs while maximizing profit margins and business growth.
IT.Toolbox.com highlights five ways that ERP can streamline manufacturing operations:
Production
It’s imperative for manufacturing companies to successfully record the costs, materials and outputs of production. A successful ERP is able to analyze, manage and retrieve data throughout the entire production process, giving manufacturers instant access to costs, processes, materials, expenses and time related to products.
Tracking
An ERP solution tailored specifically to the manufacturing trade has the ability to track all the vital information relevant to the business. Data and analytics will be available for finances, staffing, accounting and production, with valuable real-time reports.
Sales and Purchases
The ERP’s integration allows for tracking of sales and purchases in real-time, so profits and expenses can be better understood. This allows for better planning, since the manufacturer will have an instant snapshot of what makes money or loses money specific to each product, time period or process.
Delivery and Logistics
ERP can track the number of deliveries, the time each delivery takes and the time required by the entire supply chain. This is done while also analyzing the fleet, materials, and products, and coordinating all deliveries and pickups. It monitors the supply chain, including the purchase of raw materials and logistics required.
Back Office Operations
An effective ERP is especially valuable for back office operations, including inventory management, accounting, HR, and payroll. Processes than would otherwise take significant time are streamlined by the ERP, and offer high quality data and reports.
An ERP system, when implemented correctly specifically for the needs of a manufacturing business, can be a powerful tool that saves significant time and maximizes profits and ROI. Read the full article on IT.Toolbox.com.