In today’s high-tech world, manufacturing businesses should be striving to stay ahead of the game and handle growth driven by customer demands. To gain customer loyalty and a competitive advantage, a growing business needs to have the right processes in place. This can be achieved with technology that enables business success. Technology that gives you complete visibility and a real-time insight into performance.
Many manufacturing companies are turning to ERP solutions for greater efficiency and a boost to their competitive advantage. An integrated ERP system can manage all aspects of your workflow and costs. In the complex world of manufacturing, businesses have many moving parts. The greater the complexity, the more employees are likely to be involved in a process, increasing the margin for error. Conversely, the greater the opportunity for optimization and innovation.
A manufacturer needs modern manufacturing ERP software to help balance decisions and drive a competitive business. Manufacturers continuously engage in making balancing decisions:
- Balancing demand from customers and product supply from their operations
- Balancing too much inventory and overhead expenses with stockouts
- Balancing pricing of products with actual product costs
Why old systems are insufficient
Unfortunately, entry-level systems were not designed for planning for such balance. And trying to integrate a standalone, basic accounting system to a planning system results in two, or three different systems creating the following problems:
- No real-time integration
- Data in separate systems gets out of sync
- Decisions made on incomplete or inaccurate information
This means that for every strategic business decision, you have to double check multiple sources of information. As you are building you company, you are increasing this challenges by adding extra systems to meet your goals.
The challenges of these technology trends in manufacturing can be addressed with a modern ERP solution. A modern manufacturing ERP system that integrates or makes use of these future trends helps scale up the productivity of a manufacturing business by:
- Streamlining processes
- Maintaining the right inventory levels
- Optimizing your supply chain
- Mobility saving time
- Better analytics
- Detect defects with AI
Overall, modern sophisticated cloud ERP software allows manufacturing companies to connect and streamline all aspects of their 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.
Entry-level and siloed systems are not designed for planning for such balance and only restrict manufacturing businesses to grow and prosper. Manufacturing companies need the ability to support operations with a 360-degree and real-time view of all business processes, to drive a competitive business.