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Be it efficient inventory management or production, a manufacturing business is always on the lookout for ways to drive efficiency across critical operations. This calls for seamless coordination across the organization from backend to the production unit. Without synchronization across various operations, a manufacturing business cannot manage supply chain bottlenecks, increasing competition and fluctuating demands.
With the cutthroat market condition, increasing number of manufacturing businesses are looking out to spruce up their operations to stay ahead of the curve. With the exploding growth brought about by globalization and Make in India initiative, it is time for manufacturers wake up to the idea of leveraging actionable/business intelligence.
Here are three ways ERP software can help manufacturing businesses harness the power of business intelligence:
In today’s connected era where smart products can interact with each other over the World Wide Web. Internet of Things (IoT) also referred to as IIoT or the Industrial Internet of Things in the manufacturing landscape holds excellent potential when it comes to driving productivity and operational efficiency.
Remote monitoring of machineries and manufacturing equipment: IIoT would enable a manufacturing business to monitor and diagnose issues for connected machineries remotely. This can include tracking an equipment’s performance and usage, performance history, etc.
Aftersales: For an equipment manufacturer, aftersales means revenue and profit. This is where most of these businesses fail, since they rely on old-school aftersales service delivery model, which is not only inefficient, but is also costly. Going by the old-school model, technicians are often required to hop between multiple locations i.e. from installation site to manufacturing unit and vice versa. On the other hand, connected products not only drive efficiency, but also ease up aftersales service. Yes, a technician can simply diagnose problems remotely and can reach the installation site armed with all the required tools to repair the equipment. This is how IIoT would speed-up service delivery for a good number of manufacturers.
Now you might be wondering to how ERP software fits in here. The fact is ERP systems are quite relevant in this context than ever, since it holds the key when it comes to unleashing the real prowess of IoT for the manufacturing industry. Here’s how:
Harnessing the full prowess of IoT would require manufacturing organisations to contextualise data and integrate it into their workflow process. Now this triggers the need of investing in a modern day ERP software, which would help connect data, people and processes in a seamless and intelligent manner.
Yes, Artificial intelligence (AI) can greatly help a manufacturing business by streamlining various routine tasks whilst mitigating operational costs and eradicating human errors. These systems can be tailored or programmed to learn key business operations. Most importantly, such an ERP software can help a manufacturer get the most out of the humungous volumes of data that it generates. It will help utilise the respective data to eradicate error-prone routine tasks as well as optimise critical operations. Interestingly, AI-powered ERP systems when combined with the power of automation can free up employees of a manufacturing company from the monotonous saving time and efforts eventually contributing to the company’s bottom-line.
Further, data mining prowess of an AI-powered ERP software when blended with automation can deliver optimum value to a manufacturing business. Note that we aren’t talking about robots or robotics technology here. The concept can be beneficial in a materialistic way. For instance, it can mimic distinct aspects of a human brain such as learning and behavioural patterns that a manufacturer can apply to both structured as well as unstructured data stacked in an ERP solution.
In today’s tech era where entrepreneurs and business leaders are embracing futuristic technologies like chatbots, IoT, AI and et al., the innovative concept of a connected manufacturing or smart factory is no more a dream. All thanks to the Fourth Industrial Revolution aka Industry 4.0.
Manufacturing equipment and devices are more connected and smarter thereby, facilitating efficient and agile manufacturing. Now smart manufacturing or Industry 4.0 is all about intuitive exchange of data and automation in key manufacturing operations. This can include prime areas such as cyber systems, cloud technology, advanced analytics, etc.
A huge number of manufacturing companies are already leveraging the prowess of Industry 4.0. One great example is the deployment of advanced analytics that has become a routine for a good number of manufacturing businesses. Brace for smart manufacturing units!
Industry 4.0 is proving to be an excellent gateway for manufacturing businesses when it comes to digitally driven supply chain management that would in turn help improve overall efficiency levels and revenue.
If you are a manufacturing business looking out to harness the power of ERP software for your business or are looking to upgrade your existing enterprise technology solution, contact us here. You can also SMS SAGE to 56767 or drop us a mail at firstname.lastname@example.org for a free demo and consultation.