In today’s high-tech world, all manufacturing businesses strive to stay ahead of the competition. You have arrived at a stage where your growth is driven by customer demands. In order to gain customer loyalty, you need to have the right tools or processes in place. This is achieved with the technology that enables your business: technology that’s affordable on a small-business budget and doesn’t lock you in or restrict your future options.
The future of manufacturing depends heavily on these rapidly advancing technologies:
- Internet of Things (IoT) is transforming everyday objects into sensors that are connected to enhance data collection.
- Cloud enables computing services over the internet. Data storage, database, networking, analytics is made faster and flexible.
- Artificial Intelligence (AI) with applications like Siri or Alexa to self-driving cars, AI has huge potential for businesses.
- Blockchain technology allows digital information to be distributed securely and read only by the intended recipients.
New-technology challenges for manufacturers
While the technology trends in manufacturing are bound to be challenging, they also give manufacturers the opportunity to grow their business. All that one needs is a modern ERP solution which can transform these challenges into opportunities. A 21st century ERP solution ensures better preparedness for these future trends in manufacturing.
A manufacturing ERP system scales up your productivity and reduces cost through more ways than you can think of. And all the benefits of modern manufacturing ERP software boil down to one thing – how it optimizes your manufacturing operations.
Benefits of modern manufacturing ERP
The challenges of these technology trends in manufacturing can be addressed with a modern ERP solution. A modern manufacturing ERP system which integrates or makes use of these future trends helps scale up productivity of a manufacturing business by:
1. Streamlining processes
Think about the time and cost savings if your IT department could use real-time operational data to help your people make better decisions and serve customers more effectively. Monitoring sales and expenses in real time delivers your finance team a realistic view of cash flow, and manufacturing teams are armed with a complete view of the shop floor to help them identify new opportunities and improve service.
Manufacturing operations which otherwise seem complex and redundant, are automated by an ERP system and streamlined across departments. Users can navigate complex processes easily in less time. The result is improved efficiency and cost.
2. Maintaining the right inventory levels
To manage inventory, you need real-time information and tools that can turn every transaction and business activity into clear, immediate business intelligence. An ERP solution can track your entire inventory in real time. Shop floor supervisors can see the quantity of each item – both raw materials and finished goods – and where they are stored. Having proper inventory levels provide products and services that deliver immediate value to your customers.
360’ visibility of inventory enhances control, which makes management of the inventory more cost effective.
3. Optimize supply chain
As your business grows, processes become more complex and transaction volumes increase – so you need to leverage new technology to support and streamline operations. The enterprise resource planning (ERP) software you choose needs to do more than keep pace – it needs to grow with you.
These growing businesses need strategies that can boost productivity, improve quality and reduce costs. Supply Chain Management (SCM) in an ERP system smooths the planning and execution of activities in the business. This monitors and controls the supply of a raw material, to meet the demand of finished goods in the market.
4. Mobility saves time
As mobile computing becomes the expected standard for work and life worldwide, ERP offers a way to extend productivity, security, and access to information to mobile workers (plus partners and customers) working anywhere, anytime, on any device. ERP levels the playing field, giving small to midsize businesses access to the technology that enables people to do more with scarce time and resources.
A modern ERP solution is a mobile friendly solution. It can enable real-time access to a centralized database from any place any time. It saves time and cost for everyone.
5. Better Analytics
If your business runs software on one computer for financial management, another package on the network for business-specific tasks like operations and product planning, and a few online tools, it can be nearly impossible to bring all that data together for a complete, real-time view of your business.
All the departments of a manufacturing business are unified and synchronized in a modern ERP solution. This means consolidated reports can be generated using the same system. This brings accuracy in analysis, and forecasting becomes precise.
A finance analyst or a business strategist, who can readily access charts & reports, can make decisions based on facts & figures, rather than assumptions or instincts. A sales person who knows the actual numbers will be able to make commitments that can be met.
6. Detect Defects with AI
ERP software makes quality management easier. Quality assurance processes are automated by ERP, which reduces the number of finished goods that are discarded. You gain real-time business visibility with analytics and reporting. The predictive defect analysis made available with artificial intelligence provides deep, timely insights into all aspects of your business.
This limits wastage, reduces cost and increases the profit margin for a manufacturer.
7. Skilled Workforce
There is a growing shortage of skilled workers in the manufacturing sector. The adoption of smart technologies is almost the only way now to close that gap.
These latest technology trends in manufacturing have revolutionized operations in manufacturing. Most manufacturers have either implemented ERP already, or are in the process of implementing it.
To succeed, you need business-class performance, comprehensive capabilities, a familiar and consistent user experience, and enterprise-grade security, all from a single, trustworthy ERP solution. OptiProERP offers all these benefits and more. Upgrading to OptiProERP software can help you scale-up productivity and effectively reduce cost for your manufacturing processes in multiple ways.
Contact us to know more.