In such scenarios, ERP software is invaluable to manufacturers in saving time and money by streamlining operations, automating workflows, improving efficiency and providing real-time insights.
Let us look at how ERP software helps save time and money for your enterprise
Workflow Automation
From order processing to invoicing to inventory management to shop-floor operations tracking to shipping to delivery, ERP software automates day-to-day tasks and saves immense time for manufacturers. This eliminates manual operating methods, reduces errors, and speeds up operations, thereby improving efficiency.
Eliminating data entry
Manufacturers who use multiple systems and manual methods of keying information typically have to write and re-write data in different systems meant for different purposes. This leads to additional efforts that need time and manpower. Not to mention the increased chances of human error leading to more time consumption required to fix them. With an ERP, manufacturers can eliminate manual data entry as all they have to do is key in the data into the ERP and the system handles the rest.
Centralized Database
An ERP’s centralized database ensures the one source of truth for everyone in the company, from the top floor to the shop floor. Any changes in data i.e., new data input, modifications or deletions are reflected for everyone in real-time thereby eliminating miscommunications, human errors and chaos.
Real-time data visibility
With a centralized database and integrated processes, real-time visibility into business operations becomes a reality. Manufacturers can access real-time data on production schedules, inventory levels, sales and work order status, machine performance, labour utilization, goods movement etc. Real-time data visibility allows them to make informed decisions, improve efficiency, resource utilization, reduce scrap waste and save time and money.
Process Integration
An ERP integrates critical manufacturing processes such as inventory, production, planning & scheduling, sales, accounting, purchasing, supply chain, material requirement planning, shipping, manufacturing execution, quality etc. With an integrated outlook, manufacturers can eliminate silo-based operations and reduce time spent on manual data entry and reconciliation.
Integration Capabilities
ERP’s advanced integration capabilities allow manufacturers to connect it to industry-leading applications related to bar-code, RFID, nesting, CAD, e-commerce, sales tax management, machine monitoring, EDI, shipping and more. This helps them to expand the realm of ERP software and automate key processes further.
Inventory Management
Managing physical inventory is a time-consuming and complex task. Understocking can lead to production delays and increased costs due to emergency procurement. Overstocking can lead to too much inventory languishing at the warehouse leading to increased storage and overhead costs.
With an ERP, manufacturers can maintain just the right amount of inventory by setting automatic re-ordering points and tracking inventory from procurement to fulfillment.
Lot Management
Faster goods movement leads to faster production, time and cost savings. With an ERP, manufacturers can track incoming goods with the help of portable bar-code printers and scanners. With this, they can tag each incoming goods and track its movement throughout its journey. With RFID scanners, they can efficiently manage goods picking/packing/shipping process, bin storage, scrap quantities and inventory counts, thereby improving warehouse management.
Shop Floor Management
Manufacturers can increase production simply by utilizing ERP’s shop floor management capabilities to monitor machine and labour performance, balance and improve capacity, and easily manage production schedules based on demand forecasts.
They can reduce scrap quantity, reduce machine idle and breakdown time, improve capacity utilization, ensure labour availability, minimize delays and save costs.
Advanced mobility
Personnel can save immense time, material and money by accessing the ERP from anywhere, anytime. With a cloud-based ERP, they can access real-time data from any supported browser on any supported hand-held device. They can input and modify data on the go from any location, thereby ensuring continuous operations.
Supply Chain Management
Volatile markets and geopolitical crises in some parts of the world disrupt supply chains leading to delayed supply of goods and resources. For manufacturers, this means a loss of valuable time, money and existing resources.
With an ERP’s advanced supply chain management capabilities, manufacturers can efficiently track supplier performance, goods movement and product quality, automate procurement, and improve supplier collaboration. They can easily handle supply chain disruptions, cut down time, costs and improve profitability.
Conclusion
Manufacturers and distributors can save an immense amount of time and money just by centralizing data with an ERP software. Not to mention the staggering improvement in efficiency, productivity and innovation by automating workflows and optimizing resources. An ERP ensures that enterprises stay afloat in the face of global competition and market volatility.
OmegaCube ERP is an advanced enterprise-class software specifically designed to achieve all of the above. Connect with us for an in-depth demo!
