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Internet of Things (IoT), 3D printing, self-driving automobiles, nanotechnology, SMAC (Social, Mobile, Analytics and Cloud) and a lot more …businesses especially the manufacturing organisations are experiencing a downpour of disruptive tech trends in the business intelligence landscape.
However, when it comes for manufacturing businesses to adopt these tech trends, there is a dire need for having a lucid understanding of the various tech trends in line with current gen’s business ecosystem.
IoT and Big data undoubtedly are enthralling tech concepts. The question is what do they have in store for manufacturing organizations? As digitization takes the manufacturing arena by a storm, there seems to be an amazing potential to boost agility, responsiveness and embrace the quickly changing customers’ demands. Here’s how the trio of ERP, Big Data and IoT can deliver actionable intelligence:
With Great Power Comes Great Stress!
As the world becomes more connected with the help of IoT, there emerges big data. And as the amount of data multiplies, businesses would need to find advanced and faster means to help drive insights and make informed decisions.
Whilst these disruptive tech trends would boost responsiveness, there arises the challenge of managing an exponential volume of data that would then be converted into actionable business intelligence. Manufacturing businesses simply cannot afford tech trends to slow them. When it comes to the Internet of Things, it is not about data intrinsically, it is about what a business can do with the available data. Note that digitalisation is not just about accumulating new connections and data, but in fact, it is about operational agility and efficiency to act on the pool of data at hand.
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Instant and on-demand Information
A few manufacturing pundits might debate that IoT is not a new concept to them, since machines had sensors since a long time now. A good example is that of laser jet printer which tells you when to refill the cartridges. Nevertheless, today we have the tech to integrate information across diverse platforms from engineering, delivery, service and manufacturing to deliver actionable data for efficiency, accuracy and agility.
Now imagine a new printer that efficiently prints your entire production schedule at the break of the day the moment you step in the floor and emails you a report automatically. Sounds cool! It is about getting instant access to data in line with the task taken at hand. An exciting thing about IoT is its ability to merge data and then analyse the same for predictive analytics. Now you might be pondering where ERP solutions fit into this new-age trend. Fact is that ERP software is highly relevant in this context than before, since it holds the key to unravelling the real potential of IoT.
To harness the full potential of IoT and Big Data with ERP solutions, manufacturing businesses would require the ability of contextualising information and integrating the same into workflow processes. This is quite achievable, as next-gen ERP systems are more robust and approachable than before when it comes to connecting data, processes and people in an intuitive manner. Thus, aiding manufacturing enterprises to develop optimum value from data streams.
For this to happen, ERP solutions ought to be remolded to meet the growing needs of emerging and novel technologies. Responsiveness calls for mobility and simplicity. It requires tools to collaborate on various fronts such as supply chain, inventory, production etc. It calls for choice in the manner information is delivered, solutions are implemented and systems are accessed. With ERP solutions that can deliver this and much more, manufacturing businesses are all set to ride high on the IoT bandwagon with real-time and actionable intelligence available at the click of button.
If you wish to start your ERP journey afresh or are looking for assistance in implementation of the same for your manufacturing business, contact us. You can also drop us a mail at sales@sagesoftware,co.in for a free demo and consultation.
Disclaimer: All the information, views and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views or objectives of Sage Software Solutions (P) Ltd.