ERP software for manufacturing Archives - Page 4 of 4

27Jun-22

Top 10 ERP Selection Criteria to Consider When Choosing an ERP System

ERP is a piece of software that all of our businesses rely on to help us achieve our objectives. One of the most crucial choices we will make is choosing the best ERP system for our company. The choice must be sound.

Here are some criteria for choosing an ERP system that you should keep in mind when making your decision.

When thinking about your ERP selection criteria and how these might affect each element, always keep in mind what your business goals are.

ERP Selection Process

It takes work to choose new ERP software. It takes a lot of time and calls for both internal and external collaboration. Check out our list of the top 10 ERP selection criteria below if your company is considering implementing ERP. It will help you decide which ERP system to choose.

ERP Software

What is enterprise resource planning software, before we get into the selection process for ERP? Accounting and operations-focused business management software, or ERP, enables organizations to manage business processes through a single system. For expanding companies that want to keep and strengthen their competitive edge, ERP software has emerged as the top option.

Top 10 key ERP selection criteria:

The Functional Fit For Your Organization
Industry Experience
Upper Management Support
Integration With Existing Systems
Budget And Resources
The Technology
Total Cost Of Ownership And ROI
Evaluate And Select Options
Post Go Live

ERP selection criteria #1:The Functional Fit for Your Organization

Although it might seem simple, the most crucial (and time-consuming) step in the ERP selection process is determining how the functionality of software products and services fits with your company. Examining ERP software, viewing ERP demos, and meeting with solution consultants are all steps in determining the best functional fit. Internal work is also a part of it. Facilitating internal discussions to identify your business requirements for ERP and identify the functional areas to focus on is one of the most beneficial things you can do during a selection project. Important inquiries like these can help direct the conversation:

What about your current system is outdated? Why do you want to switch to a new ERP?
What complements your current business systems well?
What manual procedures might you be able to automate?
What areas of the business lack visibility or struggle to produce accurate business reporting?
What additional systems need to be connected to the ERP?

ERP selection criteria #2: IndustryExperience

What ERP software is used in your industry is a good question to ask when choosing an ERP. Even though they are not always industry-specific, some ERP solutions are tuned to work best in sectors like manufacturing and distribution. This crucial query can aid in reducing the number of ERP programmes you consider. Industry is a consideration for both your implementation partner and your software vendor (Oracle, Microsoft, Infor, NetSuite, etc.). It is crucial to know whether the vendor and the implementation partner have had success in your sector.

ERP selection criteria #3: user support

Users of the new ERP will come from every functional area. Make sure their wants and needs are reflected in the list of requirements to win their support. These users will benefit greatly from the success of your ERP implementation, regardless of where they are employed. Inform those users that they will receive the assistance, training, and tools they require to use the ERP and generate value for themselves as well as the entire organisation.Make sure they are aware of the support available to them as they adjust to the necessary changes. They will assist you in using and gaining from your new ERP in exchange for this. Ensure that the documentation users will require is accessible whenever and wherever they need it, and that it is of a calibre to meet their needs.

ERP selection criteria #4: upper management support

This may seem like a no-brainer standard. Too frequently, its significance is not acknowledged. Even if one chooses the ideal ERP for their business, the project will probably fail without the support of upper management. Support involves more than just obtaining funding. Your management should actively demonstrate its support. The manager can stifle progress by offering ambivalent support when a resource from another department is required. You want to feel confident that the manager genuinely supports the ERP even if there is a short-term cost at the time of the decision to support the new ERP or use the existing system.

ERP selection criteria #5: integration with existing systems

The majority of businesses that are choosing an ERP have other systems that serve their needs just fine, so they are not interested in changing other systems in addition to their ERP. How will those systems integrate with ERP is the next question to be asked. There are almost always common data elements. Can ERP access and read the data already present in that other system? Will you permit the same data to exist and how will you maintain compatibility between those independently updated data elements? Will changing the other system to use that ERP data better serve your needs?

With this ERP, what integration tools are included? For sporadic data updates, it should have a simple integration, like.csv files. That kind of update is ineffective and probably moves too slowly for regular use. A more contemporary method of operation is to use XML files and web services to quickly transfer data between systems.

ERP selection criteria #6: budget and resources

What financial resources are there for an ERP system? If you only have $10, your selection criteria must be extremely stringent. According to a 2021 Software Path report, you can anticipate spending around $9,000 per user of your system on average. This is a significant investment and serves as a reminder that choosing an ERP system is a long-term decision. Budgetary considerations include on-going ERP maintenance and support as well as infrastructure-related costs because the majority of ERP systems will be in use for ten years or more. Your decision today will fix costs in upcoming spending plans.

ERP selection criteria #7:The Technology

Other technological factors, in addition to software functionality, are crucial to the ERP selection process. At the very least, top-notch ERP software has the following technological features:

Information is easier to access and includes end-user reporting tools; no programming knowledge is required.
Simplicity in UI and UX
Business Intelligence
Data security
Trustable system response and performance, and minimal downtime
Integration with other systems capability
Ability to make necessary customizations

ERP selection criteria #8: ROI and total cost of ownership

Total up all the additional expenses this ERP will cause you to have. The initial purchase price and some initial consulting costs will be involved. Your servers and networks might require immediate updates. While your employees are implementing ERP, you will have to pay for training and temporary staff. While using the ERP, you will incur annual support and maintenance costs.

You will gain from decreases in the cost of performing work at the same time. Because you can now offer your customers services and products that were previously impossible thanks to this ERP, you might see an increase in revenue.

Calculate your return on investment by distributing the costs and benefits over time. Before making an investment, the majority of businesses require a minimum return. Make sure the ROI for this ERP meets your company’s requirements.

ERP selection criteria #9: evaluate and select options

Today, there are other options besides the conventional ERP system, which runs on an on-premises server and is supported by an internal IT staff. Many businesses opt for an ERP that utilises a SaaS framework and runs in the cloud. In lieu of monthly “rental” payments that include the software and the majority of support requirements, the initial investment is reduced.

You can choose a hybrid strategy in which your company owns the ERP but uses shared servers to run it in the cloud.

Open source software is also used widely today in the development of ERP systems. These gain from the software being free or extremely inexpensive to purchase. Since you have access to open-source source’s code, you can completely customise it. Open source ERP is constantly being updated by users, who also report and fix bugs. There is no need to wait for a development company to release a new revision because those improvements are available to all users right away.

ERP selection criteria #10: Post Go Live

Planning beyond go-live will position you for the maximum return on your ERP investment, whether it involves creating an internal support team or finding an external partner (often, your ERP implementation partner will also offer managed support services).

Posted By adminCategory: ERP Software, ERP software for manufacturing, PMTRACK ERP

9Jun-22

Four Key Ways ERP Software Supports Change Management

Fear of transformation is simply a fear of navigating the adjustment. Successful change management makes the difference between a good plan and a fantastic transition. Management of transition – and change itself – is almost impossible without an ERP all-in-one infrastructure already in place. An organization that relies on a few dispersed legacy computing systems lacks agile internal contact networks. Knowledge will be lost, introducing new business procedures will be time-consuming, and improvements will be replicated into oblivion.

Workplaces are constantly evolving as businesses go digital. Changes are being implemented at all levels, including processes, technologies, and people strategies. Legacy processes are being phased out in order to make the best use of available resources and infrastructure. Such initiatives, however, frequently result in extensive internal process changes that are not always easy to manage.

Change management encompasses all of the steps that businesses take to prepare for and support a business change. These include the various methodologies used to optimise resources, allocated budgets, and existing project operations. However, change management encompasses more than just projects and processes; it also includes employees and how their roles are affected. You must prepare, support, and equip your staff to implement the proposed changes, or they will face widespread opposition.

However, if you use an enterprise resource planning (ERP) system, your change management initiatives will go much more smoothly. Businesses that use ERP software have agile data sharing, which is required for change management. These types of businesses are better prepared to deal with data access and loss challenges during any internal change or transformation. In this article, we’ll look at four ways that ERP software can help with change management.

Making Informed Changes

ERP applications that use dynamic reporting methods demonstrate the need for improvement. Access to business intelligence reports that cover all divisions’ operations will reveal opportunities for process optimization and obligation redistribution. If your company lacks centralised business management software, these opportunities for reform will emerge only when your profitability is jeopardised.

The ERP software changes your company implements will be strategic and supported by detailed business intelligence. Efforts to shift management led by knowledgeable managers would be more likely to succeed than those motivated by a desperate desire to protect the company.

Access to Information

A business case for a change initiative is always supported by data. Businesses that prepare well by collecting, storing, and providing accurate data to all stakeholders are best positioned to successfully implement a change initiative.

How does ERP software help?

All ERP applications share a single database that supports multiple functions. Instead of having separate databases for each department, businesses now have access to a single data source, resulting in increased visibility and streamlined changes across departments. This also allows change agents—team leaders or managers in charge of process changes—to make more informed decisions.

ERP dashboards use color-coded bar charts and graphs to provide visual descriptions of key business/department metrics. To successfully track and measure change processes, it is critical that all employees have access to data metrics. Real-time data improves situational awareness, ensuring that your organization’s leadership and employees always have access to accurate, up-to-date information.

Communication

Another important aspect of change management is communication. Clear communication of a change’s intent and implications is critical to the success of change management initiatives. It’s natural for employees to be confused about how future process changes will affect their current roles and responsibilities if they don’t fully understand them. Employees should also be able to communicate openly with change agents if they have any concerns.

How does ERP software help?

ERP software provides a centralized database that is not limited to a single executive or department. Everyone has access to this data, and all communication can be traced back to a single database. Every department can see the entire system in action and understand their exact position and role within it.

ERP software also ensures that messages are shared consistently across departments such as sales, customer service, production, operations, shipping, and accounting. This ensures that cross-departmental tasks are streamlined and that all business units communicate effectively during change initiatives.

Data Protection

The greatest risk during any process change or internal transformation is data loss, and the majority of this data loss is due to human error. There is also the possibility of sensitive data being duplicated or mistranslated during internal transitions.

How does ERP software help?

Only authorized personnel can change or update data in ERP software. Access controls can be defined by businesses based on user roles. Only authorized users can create, update, and close change tasks assigned to different employees in change processes. In addition, the software keeps detailed audit logs to track what made what changes to the existing data. This ensures complete visibility and the security of business data at all times.

Conclusion

Implementing change management initiatives successfully requires collaboration, and with ERP software, you can streamline process changes with minimal impact on productivity.

To better manage change processes, as discussed in this article, take a few concrete steps, such as connecting all of your data sources to ERP software, involving your staff members to ensure consistent communication, and implementing access control for sensitive data. These steps will ensure that your company and its employees have a positive experience with change management.

PM TRACK ERP provides the best ERP solution for the manufacturing industry all over India, to schedule a free demo, get in touch with our team.

Posted By adminCategory: ERP Software, ERP software for manufacturing

4Sep-21

Why Deploy An ERP System In Manufacturing Industry?

Any goods you buy was made somewhere on the planet. Although service industries are receiving greater attention, manufacturing remains an important component of every expanding economy. The manufacturing business will require Enterprise Resource planning software in the long run, as this blog explains.

ERP for Manufacturing

Improving productivity is one of the primary issues that the manufacturing industry faces. By combining all-important company activities into a single platform, a PMTRACK ERP system can improve overall efficiency, reduce expenses, and increase productivity.
Furthermore, many manufacturing organizations struggle to share production-related data with employees and outside parties. A shared database is essential to an organization’s success. ERPs can help bridge the gap between departments, vendors, and distributors.
A generic ERP system is capable of providing the following benefits and more:
• Inventory management
• Production Scheduling
• Financial Management
• Operations Management
• Fixed Asset Management
• Customer Relationship Management
• Order Management
• Materials Requirement planning
• Quality Assurance control

Is ERP essential for Manufacturing?

An ERP system can show a variety of system flaws in a seamless manner. Control your cash flow, streamline your processes, and deliver a single version of the truth about what’s going on in your company.
Here are some examples of how an ERP system might help a manufacturing company:
1. An ERP system can serve as a consolidated hub for all of your operational and financial data, making data administration a breeze.
2. ERP gives you a complete picture of your supply chain activities, including warehouse management, transportation, and inventory management.
3. ERP systems also enable a variety of production methods, such as make-to-stock, make-to-order, and just-in-time.
4. Advanced ERP solutions, such as Oracle Net Suite, provide a faultless framework for managing organizations all over the world. Having a complete picture of all of your locations can help you gain more awareness inside the company.
5. Another important benefit of an ERP system is the ability to make offers and discounts based on real-time data. Some ERPs can assist with material planning, which reduces waste and delays.
6. Have a complete picture of your manufacturing process and control it from beginning to end.
7. Streamline operations by allocating work according to the availability of machines and labor.
8. By scanning and storing products, you can keep track of inventory levels in the warehouse and make items more accessible. Checkpoints are also used by ERPs to assure the quality of final goods.

How to Determine the Right Time for Implementing ERP?

Businesses may not even recognize their expansion has been stifled until it is too late. Here’s a brief checklist to help you figure out what your company’s problems are.
• If your company is having trouble managing all of its diverse data sources. Consider investing in an ERP system to ensure that all of your data is kept safe and secure.
• Existing legacy systems that are ruining your IT budget with updating and repairs. Move over to a Cloud ERP system and eliminate unwanted maintenance costs and updating.
• Diminished customer experience because of the lack of an effective customer management system.
• For a quickly growing company, the flexibility to scale according to business needs is critical. A cost-effective cloud-enabled ERP system is perfectly capable of making such a change.

Reasons to select ERP

Keep reading to learn more about the various advantages of ERP in manufacturing.

1.Manufacturing:

Any ERP system’s main goal is to boost operational efficiency and return on investment. In order to do this in the manufacturing industry, the corporation must keep track of several operations such as product planning, forecasting, and ensuring product quality. Another key component of ERP systems is automation, which assists businesses with tasks such as planning, scheduling, and delivery. Automation, on the whole, leads to better time management and fewer downtimes. Quality control features and end-to-end audit processes are included in a number of ERP systems.

2.Operations:

To get a rapid picture of the complete production process, managing your supply chain is essential. This entails managing all aspects of your product’s flow, from manufacturing to fulfillment through returns and refunds. Customer satisfaction will improve as a result of having a broad concept of availability, pricing, and delivery. It’s possible to cut expenses and beat the competition by efficiently managing your supply chain activities.

3.Inventory Management:

Inventory management is an important part of the manufacturing process. ERPs can help with managing inventory as well as provide reports on warehouse operations and inventory levels. This greatly reduces waste and non – value costs.

How PMTRACK ERP Helps Manufacturing Industry?

Here we will look into some of the unique features that PMTRACK ERP provides the manufacturing business

Engineering:

PMTRACK ERP enables easy connectivity with applications such as CAD, resulting in better product design and Bill of Materials management. By integrating LIFO, FIFO, and other costing strategies with PMTRACK ERP, costing becomes more efficient.

Service:

PMTRACK ERP Companies in Pune make it simple to streamline and manage case management, warranties, and other customer service requirements. It’s feasible to priorities support tickets based on client email addresses by automating case management. Escalation can be configured using customizable parameters and a priority system.

Financials:

PMTRACK ERP allows users to create fully customizable dashboards that display numerous functions such as accounts payable, accounts receivable, and reports. Various revenue statements and balance sheets can be compared side by side. Taxes, invoices, and finance costs can all be generated automatically.

Order Management:

PMTRACK ERP gives you a complete picture of the order management process. Orders, delivery, and other trends affecting order management are all included. Drilling down to the last detail is also available with PMTRACK ERP with a few clicks.

Supply chain Management:

PMTRACK ERP combines superior resource planning with seamless supply chain management. By examining historical data, trends, and seasonal variances, improved demand planning aids in better understanding inventory levels. For enhanced corporate visibility, PMTRACK ERP Company in Pune identifies data trends such as important spending and SCM metrics.

If you’d like to learn more about how PMTRACK ERP can help your manufacturing company, then fill out the form below. On our dedicated blog, you can learn more about PMTRACK ERP for Manufacturing Companies. If you want a quick demo, contact PMTRACK ERP for a customized demo and quotation.

Posted By adminCategory: ERP software for manufacturing

31Oct-20

Five Ways ERP Software Can Improve Inventory Management

Enterprise Resource planning software makes a purchase, sales, accounting, and production, supply chain plan, inventory, and all other business operations simple and hassle-free.
Let’s understand how a PM TRACK ERP solution helps you improve inventory visibility.

Inventory visibility is one of the important aspects of any manufacturing business. It helps organizations understand how much inventory is accessible, at what location, and at any particular point in time. To make sure inventory visibility, you must have access to view, control, and update your inventory position from trusted software.

Today, many small to mid-sized businesses depend on business management software to complete things, from invoicing to accounting to stock levels to client the executives. ERP brings every one of these arrangements into one application, and in this manner brings all data into one central hub. This implies that an update in sales, for example, will also change inventory, order management, and financial management. ERP softwareallows every region of your business to communicate, relate, and integrate all into one unique solution, which can potential to improve overall operations enormously.

How ERP Systems Assist Inventory Management

As a custom manufacturer, using an ERP system for inventory management is one of the smartest decisions that you can build. Not only will you keep away from the pitfall of using a worksheet, and all the person’s fault that can be connected with that, for example, mislaid or wrong information, but it can also save you the time exhausted in physically updating and balancing inventory.
By using an ERP system your inventory will routinely be included with all aspects of your process from planning during operations, production, and accounting. You will be capable to run your complete process from one scheme, and create your business more prepared, smooth, and competent.

No two ERPs are similar, but the list management element within an ERP will usually contain the next features:-Stock track and management
1.Sales and purchase order management

2.Multi-channel order completion

3.Storage management and stock transfers

4.Payment gateway functionality

5.Integrations with eCommerce, accounting, shipping, and other prepared tools

6.Intelligence reports and analytics

Let’s identify how an ERP solution helps you improve inventory visibility.

Benefits of ERP Inventory Management

1. Resolve changeable scenario:
ERP promotes automatic processes and included production functionality. It synchronizes production, sales, financial management, and warehouse management and automatically tracks the movement of every supply item.

2. ERP Systems Save your Money
Each business owner knows that effectiveness equals cost savings. Quite than paying for a separate system to switch different parts of your business, using an ERP for inventory management handle many different aspects of your business, reducing general workload and minimizing operating cost.

ERP inventory management systems are designed to reduce manual labor, by automate and streamlining procedures — all of which go hand-in-hand with raising a business. And ERP systems let you collect better worth data, which gives you insight into your business to assist you to follow your business routine and plan for growth.

3. Better supply levels and better customer relationships
Get near to point-of-sale online business, shipping data, procurement, and production data, all on a single display. This enables data-led decision-making which nurtures relations with customers and vendors. With real-time dashboards, businesses can view inventory status at different plant locations, warehouses, stores, etc.

ERP provides you the functionality to check trends to make sure you gather customer order on time. This develops a reliable client base which increases support and profitability.

4. Streamline the Business process
Exact inventory management can help increase a manufacturer’s overall effectiveness. Employees can invest their time on other tasks instead of for example trying to locate one specific piece of stock. With an ERP system, you can consequently monitor the stock you use on each work, which for example, will let you do proper production planning as you know precisely the amount of raw material you have on-hand, and you have to request to finish a work.

5. Forecasting, Restock, & Managing Excess Inventory
An ERP system keeps track of sales, purchasing, and logistics for you so that you can have the correct stock levels to coordinate your business needs.

With an ERP you can take advantage of an inventory management system that is in sync with the remainder of your activity, which makes it easier for you to manage things like long lead-items, as you can recognize these items during the design phase of a project, and have more lead time to arrange the thing and ensure you have it as expected.

Realizing real-time stock levels also make it simpler to recharge stock —an ERP can either naturally reorder materials for you, or send your purchasing manager a timely reminder letting her know that items need to be reordered. Without an ERP telling you that it’s time to renew stock, manufacturers can confront enormous costs to facilitate cargo when they are desperately in need of stock.
PM TRACK ERP provides the best ERP solution for the manufacturing industry all over India, to schedule a free demo, get in touch with our team info@cloud9technologies.in

Posted By adminCategory: ERP software for manufacturing