ERP or Enterprise Resource Planning is the integrated management of main business processes, often in real-time and mediated by software and technology. Based on the definition, there are a number of benefits to having an ERP system. ERP software delivers comprehensive, accurate, and real-time information crucial to the management of modern business. Manufacturing companies especially benefit from manufacturing inventory control software offered by ERP Gold. In particular, manufacturing companies are unique as compared to other companies, in the sense that complex processes are involved in creating and fabricating their goods and products. Since ERP software integrates business processes, these complex processes can be monitored and adjusted based on real-time requirements.
Typically, the process efficiencies and the cost savings gained when an ERP system is implemented, will outweigh the investment in the ERP software. A fully utilized ERP system can be instrumental in a company’s growth. Here are some of the features and advantages of having an ERP system.
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Streamline Operations / Increase Productivity:
As manufacturers grow, their operations and responsibilities become more and more complex. As this happens, ERP software can highlight inefficiencies in processes and costly operations allowing the manufacturer the opportunity to automate and simplify saving time and money. As operations are automated employees have more time to become more productive in other areas, hence increasing productivity. For example, as reports are automated, employees can spend more time analyzing the root causes of problems instead of treating a symptom of the real problem.
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Features Localization:
ERP software allows a company to compete in a global market while remaining local. An ideal ERP solution would be cloud-based but equipped with localized features such as local languages, laws, and restrictions.
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Cost Reduction:
With everything on one platform, manufacturers can easily monitor their expenses and understand the cost of decisions by providing real-time accurate information. Knowing all the information allows the users to make smarter and quicker decisions, which also saves time in addition to cost savings. The cost-benefit allows the company to invest in additional growth initiatives and continue to move forward.
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Integrated Information:
With ERP software, information gathered from across all the departments is consolidated into a single source. This makes it easier to share consistent, unique, and accurate data whether your organization is just a small business or a global company located in multiple countries.
As a result, coordination between departments becomes more coherent. Having access to a wealth of accurate, up-to-date data, aids high-level business processes such as forecasting and subsequent planning and decision-making.
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Customer Support:
Most ERP systems are integrated to allow for easy access to customer data. The real-time accurate data makes it easier to respond to last-minute customer requests and increase customer satisfaction. An ERP system also allows you to analyze demand trends and improve demand forecasts to better serve your customer base.
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Flexibility:
Cloud ERP systems enable workers to operate remotely and have operations in multiple locations. ERP software can be configured to accommodate workforce changes and allow more users as the business expands. The software has the capacity to adapt to the changing needs of any growing business. ERP system for manufacturers works according to the demands of the business, hence making it ideal for manufacturing.
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Competition:
- ERP implementation may require some investment but there is also an existing cost of doing nothing. By investing you have a level of business intelligence your competitors may or may not have. The combination of real-time data, coupled with increased agility, enables you to hone in on untapped competitive advantages, drive product development, and respond quickly to change. Businesses, especially manufacturers cannot afford to put off an implementation of ERP while their competitors are getting its benefits.
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Improvement in Reporting and Planning:
With ERP software as a single platform, reporting is simplified and easily accessible. The numbers are accurate, in real-time, and the same across the board regardless of who is accessing them. This allows for quicker response to unexpected changes. Because the reports are automated, end-of-reporting is much smoother and quicker, saving time and money, and increasing productivity. It can also create more accurate planning for future demand with an effective manufacturing inventory tracking system.
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Effective Management:
ERP software is designed to manage business functions completely. Quality Management allows the manufacturers to monitor product quality throughout the manufacturing process. Inventory management also provides help to manage the raw material in the operational department and control the cost too. The heart of any ERP system is data security. ERP systems spanning across business functions have controls on who can view and edit sensitive information. Merging information into a single repository, whether on-premise or in the cloud, shores up security compared with scattered sources on disparate systems.
Improved data security also helps with regulatory compliance and the aforementioned built-in reporting functions can help to reduce auditing costs. All of this allows for effective management at the micro level (departmental) and the macro level (entire enterprise).
ERP Gold is a complete and integrated suite for managing your business. Whether you are a manufacturer, wholesaler, or e-commerce retailer, we help you manage all aspects of your business from sales, and purchase to production, delivery, and even returns of products in real-time with greater accuracy and efficiency. ERP Gold is here to help you with all your inventory management and control issues! Click HERE to read more about how we can help, call us at 888.334.4472 for a free consultation. If you want us to call you, fill out our contact form HERE. Or click HERE to schedule a free consultation or demonstration of how we can help you.
