What is ERP ?
Enterprise resource planning (ERP) is business process management software that allows an organization to use a system of integrated applications to manage the business and automate many back office functions related to technology, services and human resources.
Why Use ERP?
1. More Money Saved
2. Improved Collaboration
3. Better Analytics
4. Improved Productivity
5. Happier Customers
6. Simplified Compliance and Risk Management
7. Improved Inventory Monitoring
8. Improved Production Planning and Resource Management
Benefits of using erp system
1. Focused IT Costs
Although ERP is often a large investment, it can unify your IT costs and improve efficiency. Instead of spending resources on multiple systems that all need dedicated staff, infrastructure, support teams and licenses, you can focus all these costs into one ERP.
2. Total Visibility
This benefit of ERP is one of the biggest selling points for the software. ERP allows total access to every important process in your business by making data from every department easily accessible to you and your senior management.
3. Improved Reporting and Planning
Along with improved visibility, better insight is a major advantage of ERP. Implementing an ERP suite across departments means your organization has a single, unified reporting system for every process. By having a single source of truth, an ERP system can readily generate useful reports and analytics at any time.
4. Complete Customization
One of the biggest advantages of enterprise resource planning software in the present day is its modular makeup. Most ERP vendors offer several applications that can be implemented together according to business needs. Barring a few exceptions, each application is designed to be able to stand alone or integrate with the larger suite. This way, your company can pick and choose which components work best and can leave out what you don’t need.
5. Improved Efficiency
Along with reduced IT and training costs, an ERP can reduce the time and effort required by your workforce to carry out their daily activities. Properly implemented, an ERP can greatly reduce or eliminate repetitive manual processes, thus freeing up team members to focus on revenue-affecting tasks.
Upcoming techonolgy in erp systems
1. The Internet of Things
2. Wearable technology
3. Big data analytics
4. The age of context
5. Opening business to innovation
Erp in future
1. The increased popularization of ERP systems
As fresh, new generations of employees continue to enter the workforce, the popularization and therefore consumerization of ERP systems will likely rise to meet their demand for systems that aren’t run on obsolete technologies. Similarly, ERP vendors that still develop and support outdated user interfaces will face increased pressure to create user-friendly, intuitive features.
ERP can facilitate a new level of interconnectedness between core business processes, external data, IoT devices and third-party applications. IoT-enabled manufacturing ERP can easily link and sync your office with your shop floor. No looking back. API-supported ERP systems can receive data from further down an assembly line and send real-time alerts.
3. Beyond Siri
When it comes to future enhancements of ERP systems, AI’s the word. More and more businesses are catching on. Siri and Alexa have brought us a long way in our quest for hassle-free phone calls, reliable alarms, and effective searches. But AI-based technology can also be used to up your efficiency as a manufacturer. An AI-based, voice-activated personal assistant can be invaluable to manufacturers, making it far easier to make an informed decision thanks to strong in-depth data analysis.
Although demand for cloud-based solutions has garnered industry attention, mobility will likely be the primary technological reality ruling ERP features for manufacturing SMEs by 2020. Mobile apps are undeniably the best way to respond to real-time changes in production.
If you’re in manufacturing, you know better than anyone that highly efficient production and turnaround times are a necessity. It’s hard to predict how your business processes will look in the coming years.
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