The COVID-19 pandemic has slowed down the global business market and subsequently forced businesses to shut down for good. While initially this left many companies scrambling to adapt, others turned to enterprise software, which opened up new opportunities and far greater efficiency.
Businesses of all sizes constantly feel pressure to cut costs, outperform the competition, and deliver high levels of customer satisfaction. For organizations to stay relevant in the era of Industry 4.0, while finding new efficiencies during the process of economic recovery, now is the time to consider, adopt and adopt technologies, such as enterprise resource planning (ERP) systems, which will enable them to thrive. in the years to come.
How will ERP help my business?
ERP solutions allow organizations to have a better understanding and visibility of their operations. ERP is almost synonymous with efficiency and productivity, and when integrated into the business workflow process, it becomes much easier to have real-time information about almost every aspect of your business. business.
The ERP system maintains all critical data such as vendor lists, bills of materials, business processes, and more, which all involved team members can access to create consistency and coordination in work processes. By ensuring a rapid and consistent flow of information between business functions through a central repository, the ERP system enables faster coordination among employees.
With real-time access to key information, business leaders can make informed business decisions, which will allow them to maintain a competitive edge in their industry, no matter how big the competition.
Better inventory management
One of the biggest problems manufacturers and distributors face today is not having complete visibility into their inventory levels. And with the pandemic increasing parts and ingredient shortages, global manufacturers have had to identify alternative suppliers and adapt their supply chains to compensate for fluctuating demand for deliveries.
By implementing an ERP system that gives them greater visibility across their entire supply chain, especially stock levels at critical stages, procurement teams can play an important role in problem solving. of the supply chain. Their goal should be to calculate demand more accurately, issue new tenders, and ensure that the right levels of inventory, parts and raw materials are ordered and delivered, in the right quantities and at the right time. good price.
As data becomes more accessible and the flow becomes automated, impending issues can be easily identified. The business can then adapt quickly to mitigate potential disruptions. Rather than inefficiently shifting production priorities to meet a potential customer supply problem, companies can adapt more optimally.
The availability of information also helps the operations team make better decisions. Optimal inventory visibility can give businesses more effective control over supply and demand, and the ability to accurately forecast and price product, among other things.
Mobile access to business functions
Companies aim to be stable, but they now realize that they have to be agile. How quickly can they adapt if something in the market changes overnight, as we’ve seen recently? How do businesses continue to operate if a crisis like this happens again – for example, the third wave? Business leaders should look for solutions that allow them to change key elements of their supply chain, production operations, and shipping activities without major disruption.
One of the newer benefits of a superior ERP system is the ability to access it anywhere from a mobile device. SYSPRO’s mobile platform allows users to remotely access all company data. This mobile solution allows users to create apps that will work on any popular device, providing instant and secure access to information about customers, suppliers, inventory items and other key business information.
Leverage business information
ERP systems enable business leaders and senior management to make informed and intelligent business decisions, backed by data and business information. With relevant, real-time data trends and insights, users are empowered to meet their goals, targets, and deadlines through improved collaboration and the means to act quickly and proactively.
A less obvious, but essential benefit for ERP customers is that ERP vendors can maintain close ties to the industries they serve and respond quickly to emerging customer needs. This gives the customer long-term assurance that as their midsize businesses grow, their ERP systems will also evolve in response to future needs.
The way companies think about their ERP systems will also be changed forever. In addition to their well-known values of maximizing profitability, ensuring top-notch customer service and delivering quality products, ERP solutions will now be recognized for their unique ability to maintain business continuity in the face of sudden changes.