How Manufacturing Companies Can Benefit From Using an ERP Solution?
Manufacturing companies have a lot going on everyday – inventory, order management, accounting and finances, customer and client relationships, human resources – the list goes on! And if you’re still using manual data entry and multiple tracking systems, you’re taking up more time and likely running into data errors as you move through your days, too.
An ERP can help manufacturers manage their business and their warehouses smoothly. We’ve put together four specific ways an ERP Solution can benefit your business; making your day-to-day operations more efficient, less chaotic, and can save you money in the long run.
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1. An ERP Solution Provides More Accurate Inventory Control
The two greatest problems for any manufacturing warehouse: too little, or not enough inventory (or a third, not understanding how much product you have in stock).
An ERP will give you insight into every product in your warehouse, in real-time, because inventory is tracked right from the sales order and any deficiencies are flagged, allowing you to restock quickly before shipments become delayed.
An ERP can even separate inventory depending on whether or not it is seasonal or has an expiry, versus products that can be sold all year round. This helps give you true insight into your inventory data; instead of grouping everything together.
You May also want to read : 8 Business Cases for Implementing an ERP Today
2. An ERP System Provides More Up-to-Date Information
Anytime any action is taken (an order comes in, a sale is processed, an item is returned for refund, a shipment of new inventory is delayed, etc.) the ERP system is instantly updated across all devices.
Giving all employees access to real time data ensures things move swiftly. It gets orders into production right away, ensures tickets are accurate, and delivers reports to the teams that need it, when they need it.
Because everything is stored in a single system instead of across multiple programs (or worse, in excel sheets), data is always updated in real time and everyone at all stages is informed, reducing the number and cost of unnecessary mistakes.
3. An ERP Provides A Single Source of Data
Many manufacturing companies operate using a number of software programs to track activity – everything from placed orders to inventory levels to accounting. Often it’s combined with excel sheets hosted on single devices, too.
What this results in is the need to refer to multiple systems and databases (and sometimes even multiple devices) to get the answer to simple questions. Multiple systems need to be updated each time an action is taken – and missing just one can be the catalyst for any number of errors – potentially expensive ones.
When you implement an ERP, all of that data migrates into one system, eliminating costly time-consuming steps, duplication errors, and ensures everyone and every device is updated simultaneously.
A single information source gives everyone a holistic view of the operations of the business.
4.An ERP Solution Allows Stakeholders Greater Independence
An ERP can allow your stakeholders access to the information they need to do their jobs. Customers, suppliers, shipping companies – it’s possible to allow third parties to see data like product information and inventory levels, order details and status, invoices, shipping times and progress, and quality parameters.
This independence saves your team a lot of time – it eliminates unnecessary back and forth with stakeholders plus saves the time needed to search for information (especially if that information is hidden somewhere in multiple systems).
As a bonus, giving your partners and stakeholders access to information they need to get their jobs done strengthens your relationships with them.
The most successful manufacturing companies follow processes and systems that help ensure their operations run smoothly. An ERP can help you and your team follow the best practices that you set out for your business at all levels. When all procedures are followed all the time, it makes it easier for every department (from accounting to shipping) to stay on track.
5. An ERP Solution Helps Improve Sales and Customer Service
Because an ERP provides real time data to everyone at the same time (as mentioned above), those working in production and in sales can easily work together to ensure customers are happy and kept up to date with accurate information.
Not only that, but customers and clients can access the system directly to manage orders and keep track of shipping status, improving overall customer satisfaction and reducing the time your team spends responding to emails and phone calls.
How can a SYSPRO ERP benefit your manufacturing company? SYSPRO can help you increase profitability – nearly 70% of manufacturers say the Internet of Things (IoT) increased their margins. SYSPRO focuses on creating flexible, leading-edge manufacturing software solutions, while also delivering results for companies in the manufacturing industry.
Need Help ?
LOGI-SOLUTIONS is a SYSPRO ELITE Solutions Partner. We have more than 100 people-hours of experience customizing SYSPRO ERP for our clients, to ensure the system is optimized as close to 100% as possible for your unique company – instead of paying for 100% and only using 50%.
Plus, our implementation method includes training for your team, and we take pride in delivering projects on time and on budget.
Learn more about LOGI-SOLUTIONS and how we can make SYSPRO ERP help your manufacturing company gain efficiency, become more streamlined, improve quality and increase profitability.