The manufacturing industry is not the same as it was a decade ago. New technologies and a changing economy have led manufacturers to Enterprise Resource Planning (ERP) software, looking to reduce costs and streamline business processes. No longer just for companies with deep pockets and huge IT departments, ERP software is now accessible and affordable for all manufacturers, regardless of industry or size.
There are 2 sides to every ERP solution - technology and processes. So let's take a closer look at the technological trends in the manufacturing industry and the challenges solved with modern ERP software.
Trend 1: The Cloud
The benefits of ERP in the cloud are pretty impressive. With cloud-based ERP solutions, manufacturers can easily access software applications using any internet-enabled device and the proper login credentials.
Manufacturers can access new features and technology that come with a much faster implementation time, lower initial costs, and greater control over IT expenses. All of which make it easier to grow while keeping some powder dry for raw materials and operational costs.
Trend 2: Business Intelligence
Bottom line: meaningful business analytics enable manufacturers to be proactive, rather than reactive.
Trend 3: Going Mobile
Today's modern ERP solutions allow employees to use mobile devices to provide continuous real-time information from the ERP system to eliminate inaccuracies. Employees can also access company data and analytics anytime on the shop floor to make better decisions.
As new technologies become more widely adopted and utilized, common business challenges become easier to manage. Today's modern ERP software has been incorporated with the above technological trends to help manufacturers solve common industry challenges. Here are the top 4 manufacturing challenges that are solved with a modern ERP solution.
Challenge 1: Continuous Innovation
ERP web portals can be used to share information and speed up problem solving among employees, suppliers, partners, and customers. Organizations can then develop new products and processes that reduce costs and power revenue growth.
Challenge 2: Streamline Processes
Challenge 3: Real Time Analytics
Business Intelligence and analytics tools, including automated exception alerts and triggers via email, provide the real-time data manufacturers need to make quick decisions and optimize order management, inventory management, production control processes, and reduce costs.
Challenge 4: Compliance
Modern ERP software has come along way since a decade ago. With affordable technologies and more control, manufacturers everywhere are turning industry challenges into competitive advantages.
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