Success Just Ahead

by   |    |   3 minutes  |  in Business Technology, Manufacturing   |  tagged , , , , , ,

Choosing an enterprise resource planning (ERP) software package to run your industrial or high-tech manufacturing business is one of the biggest decisions that you are likely to make for your company – and one that should not be taken lightly.

Whatever your decision may be, it will have a huge impact on your workload, your business, and your stress levels. To help you make an informed decision, there are six key areas you should consider when looking at ERP software packages…

1. Compliance Issues

More and more every month, there seems to be new headlines about increased regulations and regulatory compliance that companies must now follow and/or adhere to. Pressures from both local government and global standards organizations mean that companies must be able to track and prove what has been manufactured, by whom, where components were sourced from and what quality checks were completed. For every solution you look at, make sure these compliance capabilities are supported, standard and fully integrated.

2. Rising Margin Pressures

Rising margin pressures have been an issue for manufacturers for many years, but when it comes to selecting a software solution, make sure it can help you identify where you are making profit and more importantly, where you aren’t. By checking for this functionality, it will help you make strategic decisions about expanding or decreasing product ranges.

3. Greater Visibility

Something that I have noticed today’s manufacturers doing more of is adopting a project approach to their business. Traditionally, the cost of production is well known, but two things that are often treated as overhead costs are design and finance checks. From a product production perspective, what if the system you chose could help you determine the true cost of production? Any solution you look at should have fully integrated project management capabilities so you can do this.

4. Consumer Demand

In the marketplace, manufacturers often want to differentiate themselves, and these days, they try to do so by offering customization options for standard products so that customers get something individual to them and can promote customer lock-in.

Any software package you look at should offer this capability but more importantly, be able to manage this is in an effective way.

5. Standardization

All organizations want standardization, but you need to ensure that any software package you choose to deploy has the capability of being deployed in all your sites, locations, countries and languages.

6. Disruptive Innovations

With new technologies emerging on a regular basis, like 3D printing and Internet of Things (IoT), the rate of disruption in today’s world is happening faster and faster. Any software that you purchase should not only meet your needs of today, but also meet your unknown needs of tomorrow. While it may seem impossible, a package developed correctly will ultimately make your life easier in the future.

Want to know more about Enterprise Resource Planning Selection?

If you want to know more about what you should look for when shopping for an ERP solution, then please read the Software Selection for High-Tech and Industrial Manufacturing white paper that covers these six points in more detail.


You may also be interested in…

MANUFACTURING INDUSTRY – CHANGE IS THE ONLY CONSTANT

After a global survey of over 1,000 IT decision makers from companies in 12 countries, insight on the subject of change in businesses revealed a number of interesting trends across different vertical industries including manufacturing. Read Blog >

THE 3 THINGS MISSING FROM YOUR ERP SYSTEM

In conjunction with Manufacturing Business Technology, IFS recently conducted a survey to assess the types of modules most likely to be reported missing from existing ERP systems. Read White Paper >

SOLUTION MAPS FOR MANUFACTURING

IFS Applications for High-Tech Manufacturers View Solution Map >
IFS Applications for Industrial Manufactures View Solution Map >

2 Responses to “6 ERP features your company shouldn’t overlook”

  1. ERP Central (@ERPCentralNav)

    Fantastic article, we particularly liked the standardisation point as this is crucial if you want your new ERP software to have the desired effect in all of the locations that your business operates in. Also by implementing a new ERP system, you can streamline your business processes which will help reduce the pressure of rising margins. We shared this on our social platforms as we wrote a similar article recently about what most businesses overlook when selecting an ERP solution. This is our article:

    http://www.erpcentral.co.uk/resources/blog/what-do-most-businesses-overlook-when-selecting-an-erp-solution/

    We would love to hear your thoughts on our post!

    Reply
  2. Radha krishna B V

    Hi Antony I am happy to read your blog because I also believe in standardization which can lead to more innovative products and more economic growth. I worked in IFS Tucson AZ USA for several years and presently still work in IFS with Astra-US (IFS partner). A person of your stature can do something in some of my proposals on Product structures and Inventory standardization. Please let me know your thoughts. The links are here
    https://skillsnest.wordpress.com/2016/01/18/time-to-standardize-product-structures/
    https://www.linkedin.com/pulse/time-standardize-inventory-parts-data-radha-krishna-behara

    Reply

Leave a Reply