As competition increases in the manufacturing industry, having an integrated system that manages all aspects of your business is crucial. The expectation to perform better, faster and with less resources in a highly competitive environment is a growing challenge. The answer for many high growth manufacturers is an investment in an Enterprise Resource Planning (ERP) system.
Integration is essential for manufacturing companies for a seamless transfer of information to each part of the intricate system. In an ever-evolving digital world manufacturing businesses must adapt and seek constant advancement to thrive and improve response to customer demand. As the manufacturing industry is complex and frequently changing, off-the-shelf software or multiple systems won’t keep up with the developing needs.
There are three prerequisites for driving business growth in manufacturing that have been established by Acumatica these include:
1. Managing Product Complexity
Manufacturing is highly complex as businesses constantly need to deliver products with different variations and features, whilst adapting to new manufacturing methods. As customers demand new features, colours, sizes and other specifics your business processes must be agile enough to adapt quickly. Responding to complexity demand in manufacturing requires a deep insight and control of your production. Quick response to customer demand requires:
- The right materials and finished goods in stock
- The correct variety and customisation
- Market and price based on manufacturing costs
- Excellent customer service as well as delivering quality products that reduce support costs.
2. Control Total Manufacturing Costs
The central challenge in manufacturing is the ability to control all aspects of costs. This means balancing demand in scheduling production, managing inventories efficiently to reduce material costs and minimizing your total cost of manufacturing at the same time. ERP’s have been proven to provide total control over your inventory, your ordering needs and steps of production. ERP’s can help you plan and predict your needs, so you know what to order, what not to order and when to order it.
3. Facilitate Collaboration
In manufacturing, facilitating collaboration is vital in order to control costs and deliver a quality product for your customers. Externally, your business must effectively collaborate with your supply chain on both timing and design. Likewise, internal collaboration between departments within your business is essential to your bottom line.
An ERP can help with all these elements of complexity, costs and communication. Particularly for Manufacturing businesses the goal is to have automated processes that share information flawlessly. This seamless integration and sophisticated workflow is all achievable with an ERP.
The MYOB Advanced Manufacturing Edition is specifically designed for Manufacturing companies to connect and streamline all aspects of a business. From the initial processes of converting raw materials to the sale of a finished good, ERP’s are designed to integrate the entire process. Giving you greater insight, control and a competitive advantage, an ERP will acknowledge all parts of your business and will adapt as your manufacturing company grows.
Contact Momentum Software Solutions today to discuss the needs of your Manufacturing company and how the MYOB Advanced Manufacturing edition can help you.