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11Jun

How IoT Technology and ERP can Benefit Manufacturers?

Innovation in this era has changed the way businesses used to work and users used to consume. From mainframe computers to smartphones and cloud-enabled gadgets to wireless 5G networks, technology has been driving innovation across multiple industries. Disruptive technologies are creating huge opportunities for the companies to accelerate growth and streamline operations.

Gone are those days when sales personnel used to maintain piles of paper sheets in their office or spreadsheets in their computers, to process information of various departments. At present, businesses, whether small or large, invest in state-of-the-art software that can make their work easy and eliminate hassles.

Managing business and its nitty-gritty is not a cakewalk. From maintaining statutory compliance to managing the warehouses, payroll, procurement, selling, production and finance, businesses need to have a diligently working team of employees and advanced technology to support their efforts.

Talking about IoT, Internet of Things –  it is a technology where machines are integrated with the sensors, actuators, electronics and connectivity software which enables the physical devices to connect and exchange data. IoT streamlines and accelerates the workflow. Also, IoT infrastructure makes sure that the processes and operations are uniquely identifiable with the embedded computing systems.

IoT and The Connected World. 

IOT is much more than wearable gadgets and smart homes. In the age of industry 4.0 and disruptive technology, the equipment designed for manufacturing have IoT sensors embedded in them.

So, what is the importance of IoT in manufacturing? Well, it offers – deeper insights into the manufacturing processes, smart connections between machines and operators, enhanced production, reduces downtime, increased data security – these are just a few of the many benefits IoT in manufacturing.

Let’s discuss in detail about how IoT technology can be beneficial in the manufacturing industry-

  • Smart manufacturing

IoT sensors play a huge role in the manufacturing plant. In one of the researches done by IDC projects, it has been stated that in 2018, 40% of the topmost discrete manufacturers ought to depend on the connected products in order to provide the product as a service. Forward-thinking manufacturers aim to reduce the lead time, manage appropriate inventory count and accelerate delivery of the products.

IoT can connect machines and equipment and let you tap into the data repository faster – it will drive your business big time and encourage customer satisfaction with product delivery on time. IoT platforms offer an end-to-end solution to develop and deploy applications in a fraction of time, manage and analyze data, accelerate time to market, protect and comply with security requirements.

  • Higher product quality

According to an IDC report, every manufacturer has the primary aim of enhancing the overall quality of the product. Product quality facilitates customer satisfaction, higher sales, lower costs and reduced waste. IoT technology is fueled by a combination of dynamism. From automatically assessing the machine to improvising the safety features, getting the real-time overview of ongoing activities to ensuring customer satisfaction, IoT technology keeps a better control on the overall functions of your business.

  • Faster and informed decision making

Internet of Things is a game-changer in the global industry. It allows business insights to flow smoothly to the top management, who need these insights the most. IoT empowers the managers to manage the business functions in the best possible manner so as to make it easy for the higher-ups to take well-informed and wise decisions for the future. With accurate data, it becomes easy for the management to make well informed and accurate decisions.

  • Reduced downtime

It goes without saying that Internet of Things is a technology that takes business operations to a higher level. This ensures timely and accurate production, proper inventory count, the optimum working of systems and machines. For example, if the machines in your shop floor suddenly stop working, can you guess the repercussions? Of course, delayed production, unsatisfied customers, wastage of materials and extra expenses.

IoT technology synchronizes machines to software, so as a business owner, you are able to monitor the status of goods sold, procured, to be produced and packaged and much more. No downtime, no unsatisfied customers!

ERP Can Be Your First Step Towards Getting There. 

While ERP is being used by most of the manufacturing companies around the world, technology is adding more innovative functionalities in the business solution and make it easier for businesses to operate.

IoT describes the idea of machines communicating with other devices through a channel of sensors in order to minimize the role of manual labourers. To stay in coherence with this new technology, ERP systems should be adaptable to the functions of IoT to deliver information in real-time. From tying shop floor operations to the financial functions, an ERP does almost everything needed to bring data of organizations under one umbrella.

An ERP that supports IoT functions manages and analyzes large volumes of data throughout the lifecycle. It improvises network edge and helps you achieve security regulatory compliance. A wide array of tools such as data analytics, business analytics, and discovery allows you to get the business value. OptiProERP is a cloud-compatible ERP solution that empowers your employees to work together across devices. It’s a comprehensive ERP solution that caters to a line of industries, including medical device manufacturing, automobile components, telecommunications and many more.

If you are looking for an ERP solution that can help you leverage the most advanced functions and disruptive technology, email us at info@optiproerp.com