Monthly Archives - December 2019

question ERP vendor

3 Questions to Ask Your ERP Vendor About Data Management

Throughout the process of evaluation ERP software solutions, you will have plenty of questions about functionality. You will undoubtedly take guided product tours, looking to match the software’s capability with your unique business process. An ERP solution, however, is a long-term commitment. As you move through the selection process, it will become increasingly important for you to think about long term benefits. ERP data management should be near the top of your list.

But what are the right questions to ask about data management? How can you elicit direct, meaningful responses from ERP vendors to help inform your decision? The following three questions should be central to your conversation with each vendor.

Who owns my data?

Especially in the cloud ERP world, concerns about data security have grown in recent years. When you trust your data to products in the cloud, you should feel secure that your company is the sole owner of its data. In an ideal scenario, vendors should not have access to your information stored on managed servers. It is the vendor’s job to provide the software and secure the data— that should be the extent of their involvement.

When you ask this question, most vendors are likely to answer that, of course, you are the owner of your data. Most vendors will also direct you to their privacy policy or security documentation. While important, those documents aren’t everything.

You should press the vendor further. Ask this question directly: “For what purposes do you use my data?” The answer should be a resounding no. Simply put, there is no substitute for hearing your vendor say that to you directly.

If I decide to leave your software, how can I take my data with me?

Notice the wording of the question. Being able to leave a solution with your data should be a given in this scenario. However, the vendor should also have both policy and process in place for exporting your data from their system. Preferably, your information can be converted to a universally exportable file (such as a .csv). It can then be imported into another ERP system.

The other factor in leaving ERP software is data migration. To what extent will the vendor help you get that information out of their system?

As with the previous question, it is a good idea to ask this directly. Unless there are mitigating circumstances, a good ERP vendor will help you transition away from their product. Ideally, this service should come at no additional cost. If there are costs involved, you should know that upfront.

While many ERP projects are a great success, they don’t always turn out as planned. Experienced vendors know this and will be ready to help when needed.

How is data restricted from (or permitted for) different users?

Many ERP systems grant permissions based on tiers. While that process may be a simple click on the front end, it can become difficult for the company’s operations. Many organizations have scenarios where employees are granted permissions to 95% of the documents related to their job function. It’s the other 5% that makes things difficult.

When employees have to either request access to other documents or send files to another employee, they waste valuable process time. After all, the data flow is one of the problems ERP systems are often created to solve.

Ask your vendor if permissions can be granted on a more granular level. Once customized, every employee who uses the system can access exactly what they need, while being restricted from what they don’t.

As discuss ERP solutions with vendors, it’s important to understand the basics (features, support, etc.), but data management should be an essential part of your selection process. Pursued in detail, you will feel much more comfortable getting the answers you need from vendors.

Source: ERP Solutions Review

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next manufacturing erp

What to Look for in Your Next Manufacturing ERP

Your next ERP will be the control panel of your manufacturing business for the next decade. The features it provides could make or break the productivity of your entire team.

But the way you deploy this platform could have even greater ramifications.

Whereas cloud ERP solutions were considered a rarity just 10 years ago, they’re now commonplace. Many manufacturing enterprises are singing the praises of their cloud ERP systems. But that doesn’t mean all cloud platforms are created equal—or that once you’ve decided to go cloud, your decision process has ended.

The truth is, “cloud ERP” is a broad category that encompasses several different deployment options.

Your Options for ERP Deployment

It wasn’t that long ago that the only deployment model for ERP was a licensed, on-premise solution. Your company would purchase software licenses, install the software in your data center or server room, and extend access to your users.

Today, even if you’re set on a cloud solution, you’ll have several more decisions to make:

  • Software as a service (SaaS). SaaS ERP solutions are hosted elsewhere—rather than on your company’s servers—and accessible to you through a browser.
  • Hosted solution managed by your ERP vendor. In this deployment model, you buy licenses as you would with an on-premise solution. The difference is that you’ll pay a fee for your vendor to manage and maintain the software on their own hardware.
  • Hosted by a third party. The main difference between this model and the previous one is that someone other than your vendor will manage the hardware, hosting, and maintenance.
  • Hybrid. The hybrid model gives you the flexibility to install some elements of your solution on-premises while letting a third-party host the rest.

Which of these options are cloud deployment options? All of them. “Cloud ERP” refers to any solution that your users access through a browser. If you install the software on your own servers, it’s called a private cloud deployment. If the software is installed outside your premises, it’s called a public cloud deployment.

Manufacturers Are Embracing Cloud ERP Deployments

The many types of cloud ERP deployments available may seem overwhelming at first. But manufacturers are navigating their options—and choosing the cloud in droves.

The Mint Jutras 2019 Enterprise Solution Study asked companies which deployment model they’re using. Just 23 percent responded that they’re using traditional vendor-hosted deployments. By contrast, 60 percent reported that they’re using SaaS or vendor-hosted deployments.

The cloud will only get more crowded in the years to come. The same study revealed that 28 percent of participants plan to move their ERP deployments to SaaS within the next two years. Another 23 percent plan to do so “eventually.”

Source: Industry week.


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erp supports software implementation

ERP in supporting software implementation

To live up to technology’s promise for the modern enterprise, ERP software must become easier to deploy with faster time to value, writes Infor’s Mayumi Hiramatsu.

Organizations have been striving to increase productivity since the days of the cotton gin, steam power, and Model T assembly lines. Today, maximizing productivity is often associated with software technology, from virtual assistants to predictive science. But, as the pace of innovation has accelerated, the practical ability to implement and monetize the exciting new technologies hasn’t always kept up. It’s time for solution providers to step up their game and take a more active role in supporting software implementation efforts.

Today’s common tactics for deploying software are flawed. In the race to out-perform competitors, enterprises have hurried into projects without careful planning. The route to go-live status has become a steep, uphill climb, riddled with delays, overwhelming amounts of data, heavily modified legacy solutions, and a hodgepodge of point solutions that don’t speak to each other. The tempting razzle-dazzle of virtual-this and networked-that has often obscured the foundational questions we should be asking: Who will deploy? What’s the impact on productivity? Where’s the payback?

Complexity wins round one

It’s not that the technology doesn’t work. It does. Monumental leaps forward in innovation have yielded heavily-hyped solutions such as the Internet of Things (IoT), artificial intelligence (AI), machine learning (ML), and virtual reality (VR). Although they have been around for decades, next-generation ERP solutions have now moved to the cloud and incorporated AI and advanced analytics into core functionality. Enterprise solutions today are powerful business tools that bring insight, automation and operational best practices.

Whether it’s tracking shipments for a global supply chain, anticipating market trends in retail, or improving the patient experience in healthcare, modern software is transforming the way we do business. Automation is freeing workers from the tedious, repetitive tasks — or the dangerous ones – so they can focus on the uniquely human capabilities: creative problem solving, innovation and relationships with customers.

The potential is nearly limitless. But, so are the complications. McKinsey recently published Agile in enterprise resource planning: A myth no more in which the authors address the vital need for end-to-end solutions — despite the frequent disappointing results:

“As fundamental as they are, three-fourths of ERP transformation projects fail to stay on schedule or within budget, and two-thirds have a negative return on investment.”

The Blame Game

Cynics looking for a culprit to blame can point at the technology itself and the companies that develop the science and software. There’s a lot of us in the industry. We can all share the burden of this forehead-smacking realization: Sometimes, we let our customers down. Technology has not always lived up to the potential we envisioned. CIOs struggle to reduce modifications while keeping differentiating capabilities. CFOs still worry about the reliability of data — but now there are orders of magnitude and more data volumes to consume. In manufacturing, machines still break, and customer orders still ship late, despite endless reports explaining why. And, sometimes, in healthcare, no amount of data or efficiency improvements will change whether a patient pulls through or not. Software can’t fix everything.

We wish it could. Enthusiastic about breakthrough computing concepts and cutting-edge applications, enterprises want to enact plans that will help them out-maneuver aggressive competition, overcome paper-thin margins, and thrill highly demanding customers — overnight. And, of course, boosting profits would be nice, too. So, assisted by packs of implementation consultants, change management experts, business analysts, data scientists, and workforce management teams, they set out to reinvent processes.

Then, something goes awry. Or, a series of small delays and unexpected challenges add up, combining to create a general sense of unease and worry. Projects can wear on, extending beyond the term of the original advocates and sponsors. Proof-of-concept projects for IoT applications can take years to achieve ROI. Migrating heavily modified on-premise solutions to the multi-tenant cloud can take years of untangling the essential proprietary concepts from ones that can be replaced by standard functionality. These are tough decisions for some companies

Five common challenges

The McKinsey article points to five common challenges that can send an ERP implementation off course:

  • Misaligned incentives. All of the parties may not share the same goals. Implementation consultants can benefit from complex projects that extend past the target date.
  • Poor project management. Most organizations lack experience in managing complex IT projects with multiple vendors. Many individuals are change-adverse and can (intentionally or not) impede progress.
  • Lack of business-IT integration. Multiple lines if the business must buy into the project and agree on workflows, definitions, compliance, validation — and more.
  • Missing the focus on business value. Activities and tasks tend to drive transformations, rather than value and bottom-line impact. Simplifying difficult jobs doesn’t always yield financial value.
  • Waterfall methodology. Most projects use a linear, sequential approach to the project schedule, which stretches out the timeline.

These are just some of the issues that complicate the deployment process. It’s easy to get lost in a change-order jungle, continually chasing minute issues and losing sight of the main goal. We have all seen the headlines of failed projects and frustrated enterprises that turn to the court system for resolution.

A holistic, balanced view of precautions

Deloitte also addressed risks associated with digital transformation. Cybersecurity is one of the top issues, the author wrote, and it can be one of the top reasons enterprises hesitate about a move to the cloud. Although the top cloud providers are experts in security, back-ups and encryption methods, companies still worry about possible breaches:

“An immediate step by organizations is to have robust measures around cybersecurity and the easiest approach is to perform typical information security and/or cybersecurity assessments of systems.”

The authors go on to stress “there is always more” which can be done, but the organization must balance costs, practical applications, available technology, and potential impact. Then the question becomes “What is enough?”

Preventing a failed project, whether it is moving the ERP solution to the cloud or deploying a new IoT initiative, requires vigilant monitoring — not only of the security precautions, but also the data integrity, governance, access protocols, user-level workflows, and adherence to industry-specific best practices. Glitches and complications can pop up anywhere, causing distractions and delays. As the saying goes, a chain is only as strong as its weakest link. So, the entire project may be implemented smoothly, but if one component — like reporting — fails, the entire project can suffer. Deloitte concludes:

“Just as thinking in silos is dangerous in digital transformation, so is managing risk in silos. Risk management isn’t a departmental or project-based job. It’s an all-time job, and it needs to be baked into every aspect of digital transformation for your company to experience success.”

Leadership plays a role

Forbes contributor, Daniel Newman, recently wrote about the risk inherent in digital transformation. and the preponderance of negative outcomes. “What these headlines tell me isn’t that technology isn’t working or that digital transformation isn’t worth it. It’s that companies today are rushing headlong into digital transformation without a clear idea of where things could go off course — or how to get back on track. Digital transformation needs risk management for these very reasons,” he said.

Newman suggests that the enterprise’s leadership team should take ownership of this challenge and ensure the right teams, policies, and attitudes are in place. “While digital transformation can be a miracle worker, there is no technology that serves as a fail-safe in digital transformation. Just as with any type of digital transformation your company undertakes, you need strong leadership, executive support, tech-friendly culture, data-driven decision-making, and a silo-less enterprise for digital transformation to succeed at the highest level. There is no shortcut for this, and there is no “risk management” program that can do the work for you,” he wrote.

Newman summed up the issue well, offering sound advice:

“Digital transformation needs risk management because risk management provides the structure we need to understand the points at which our digital transformation projects can go wrong. But risk management doesn’t make a project succeed. Only we — leaders in the movement with a commitment to creating a tech-driven culture — can do that for ourselves.”

Can technology help deploy technology?

Some software providers, such as Infor, are turning to technology to help improve the ease of use and speed to implement projects. Implementation accelerators, pre-populated templates, and simplified user interfaces have been tools offered to customers and channel partners for years. But, today, these types of tools are more important than ever, especially as enterprises strive to adopt advanced concepts such as AI and ML.

This was a topic that Infor CEO, Kevin Samuelson, broached recently at Inforum 2019, the company’s annual customer conference. He told a group of analysts and media:

“The practical operationalized use of AI and machine learning in the enterprise remains low because most tools are deeply technical and developer-centric. Too many of these AI tools have been designed for experimental projects and are therefore difficult to scale and repeat.”

In an attempt to resolve this situation, Infor’s Coleman AI platform provides industry-specific starter packs to accelerate the development of repeatable machine learning-based AI projects. These templates give users drag-and-drop screens to bring in data and apply appropriate algorithms, making it simpler to create practical applications for AI that can be up and running in weeks, not years. The solution is designed for use by “citizen developers” who don’t have extensive data modeling skills.

This is just one example of the kind of innovation that needs to happen so that enterprises can confidently move forward with upgrades, modernization, and deployment of new digital technologies without worrying about project complications. The technology is there. The solutions are ready and able to make impressive transformations for enterprises, which are ready to grow and modernize. Now, the industry needs to focus on implementation, too, helping deliver on the promises made to customers.

Source: Mayumi Hiramatsu

erp market research 2025

ERP Software Market Research by 2025

NEW DELHIDec. 2, 2019 /PRNewswire/ — According to a new report Global ERP Software Market, published by KBV research, the global ERP software market size is expected to reach $70.3 billion by 2025, rising at a market growth of 10.5% CAGR during the forecast period. The ERP market has grown rapidly over the past decade with providers introducing enterprise-wide solutions. These providers ensure that ERP solutions have a wide range of features, can be incorporated into other enterprise solutions, and can be tailored to growing business needs.

The on-premise market dominated the Global ERP Software Market by Deployment Type 2018. Cloud-based solution, nevertheless, is currently considered to be a cheaper alternative to on-premise solutions, and several small players appear to be assured of cloud data privacy. (See Cloud Epicor ERP) With developments in technology, a more advanced approach can lead to faster implementation for different ERP applications. As a response, ERP providers will deliver tailored solutions to cater for a large number of vertical markets, resulting in more tailor-made ERP solutions.

The finance business role has been the largest contributor to the ERP software market in 2018. It is expected to remain dominant over the forecast period also. This trend can be associated with the increased adoption of the finance module in most companies to minimize the burden of financial functions and gain overall business expertise. However, the human resource (HR) module is projected to see the highest growth due to ongoing business expansion in developing economies.

The Manufacturing market dominated the Global ERP Software Market by Industry Vertical 2018. The Retail & Distribution market is witnessing CAGR of 9.3% during the forecast period. Additionally, The Healthcare market is expected to witness a prominent CAGR of 10.9% during (2019 – 2025).

The North America market holds the major market share of the Global ERP Software Market by Region. The Europe market is expected to witness a CAGR of 9.7% during (2019 – 2025). Asia-Pacific, however, is projected to grow at the highest CAGR during the forecast period due to the large involvement of small and medium-sized enterprises. These companies are turning towards hosting ERP solutions to handle their business processes effectively, especially in developing countries like IndiaChina, and Singapore.

KBV Research has introduced the Subscription-Based Model which aims to offer market intelligence to its clients ensuring a convenient and economical approach.”

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, IBM Corporation, Workday, Inc., SAP SE, Oracle Corporation, Infor, Inc., The Sage Group PLC (Sage Software Solutions Pvt. Ltd.), Plex Systems, Inc., Epicor Software Corporation and Unit4 NV.

Global ERP Software Market Segmentation

  • Solution
  • Services
  • Finance
  • Supply Chain
  • Manufacturing Module
  • Inventory Management
  • Human Resource
  • Customer Management
  • Others
  • On-premise
  • Cloud
  • Hybrid
  • Large Enterprises
  • Small & Medium-Sized Enterprises
  • Manufacturing
  • Retail & Distribution
  • Healthcare
  • BFSI
  • Telecom & IT
  • Government & Utilities
  • Aerospace & Defense
  • Others
  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA
  • Microsoft Corporation
  • IBM Corporation
  • Workday, Inc.
  • SAP SE
  • Oracle Corporation
  • Infor, Inc.
  • The Sage Group PLC (Sage Software Solutions Pvt. Ltd.)
  • Plex Systems, Inc.
  • Epicor Software Corporation
  • Unit4 NV
  • Exhaustive coverage
  • Highest number of market tables and figures
  • Subscription based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Source: KBV Research

erp improves operations

How ERP improves operations and customer satisfaction

Let’s check the case of Stillwell Jacks – a manufacturer in Minnesota to know how ERP improves operations and customer satisfaction. It somehow explains why other businesses move away from manual management toward real-time visibility into order fulfillment and manufacturing workflows.

Stillwell Jacks manufactures high-quality hydraulic jacks for customers in the agriculture, construction, and automotive industries. After installing new enterprise resource planning (ERP) software, the company was able to automate and streamline order fulfillment and manufacturing processes. Replacing legacy systems, ERP enhances company-wide across sales, finance, and manufacturing. Consequently, it enables Stillwell to process up to 30% more customer orders with the same resources.

erp improves operations

With a fast-growing business and delivering complete products all across the county, the team at Stillwell quickly realized they needed to ramp-up their overall operations.

“We started out using Quickbooks on the accounting side, but we didn’t have a system in place for manufacturing and order tracking,” says Zac Stillwell, vice president of operations. “We worked completely based on memory. In fact, we struggled with keeping track of our orders, and misplacing them could mean costly delays and potentially unsatisfied customers.”

With ERP, Stillwell automated its business processes across the board, from the initial order through to product delivery. Meanwhile, it minimizes manual work at every stage in the process. As a result, employees could focus on more strategic tasks. “We’ve taken the manual management out of running the business, which means we can do a lot more with less,” Stillwell says. “With real-time visibility into our order fulfillment and manufacturing workflow, the system saves us considerable time and resources, allowing us to book, build and ship more orders.”

erp improves customer satisfaction

Stillwell also notes that they were able to make changes to the system and personalize it.

“There wasn’t anything we couldn’t handle ourselves,” he says. “Changing the interface, editing reports and creating queries were all very quick and easy to do. This really allowed the system to work for us.”

Stillwell Jacks reports accelerated delivery time and increased customer satisfaction.

erp improves customer satisfaction

“Our suppliers now get clear signals when we need to buy material and our paperwork stays organized and is consistent, which makes working with larger customers so much easier,” Stillwell says. “We’ve been able to eliminate the overhead time of many routine tasks to focus our efforts on sales and operations. More importantly, we now have a consistent and professional appearance to our customers and suppliers.”

Source: Josh Bond, Senior Editor

erp solution for SMBs

What SMBs Should Consider When Choosing an ERP Solution

Let’s check out Arun Upadhyay’s advice for small- to medium-sized businesses (SMBs) on what to consider when choosing an enterprise resource planning (ERP) software solution apart from a customer relationship management (CRM) software. 

“ERPs are designed to connect all the different areas and processes of a company that are needed to run the business, including inventory and order management, accounting or even HR applications. In its simplest form, an ERP aggregates these areas into one system to streamline processes and data across an organization. This means that employees in different departments and locations can rely on a single view of information for their specific needs.

While ERPs and CRMs have similar functions, the latter is oriented more toward the management of customers and increasing sales; ERPs are generally concerned with internals systems and processes for reducing costs.

Just as a CRM can help SMBs better understand their customers, an ERP system can help SMBs get their arms around operations. ERPs, like CRMs, should be viewed as tools in the technology toolbox and not as a magic bullet for solving systemic issues within your company. When you properly implement and utilize them, ERPs can help your business perform like a well-oiled engine.

For nearly two decades, I have worked with software solutions, including ERP systems, and have extensive experience implementing them. Here are several things to consider when you’re seeking an ERP solution.”

When you’re ready for an ERP, begin by figuring out what your requirements are. Start by identifying shortfalls, challenges, inconsistencies, processes or systems that are inefficient, waste money or slow productivity. Seek input from senior management, IT teams, end-users and others who are engaged in specific areas of your business.

A common mistake I see at the early stage of ERP shopping is that people are often focused on pricing, bells and whistles, and even the reputation of the solution. These things are important, but you should generally consider them further down the line.

After you’ve sorted out your requirements, look to see what features, functionalities and technologies different ERPs offer. Most have a dizzying array of options. To avoid being overwhelmed, take a big-picture approach.

For example, are the technologies turnkey, or will you need to customize them for your enterprise and processes – or do you need both options? Is the ERP compatible with your existing technologies across the organization? Will it work with accounting as well as HR functions if necessary? Is it current with and looking ahead toward technology trends? You may not need your ERP to have artificial intelligence capabilities now, but will you downstream? Perhaps most importantly, is the ERP agile and able to adjust to the changing complexities of your organization?

Chances are, the requirements you’ve identified previously won’t stay the same in the future, especially if scaling is one of your business goals. You may need software that is customizable and can integrate with future systems. Along these lines, it’s critical to understand the difference between customization and configuration. Customization involves changing software code in order to meet your requirements. The configuration is the arrangement of options within the software. Not surprisingly, customization is typically pricier, so be sure to raise that question when you’re engaging with an ERP vendor.

Now that you know your requirements and understand ERP technologies, it’s important to designate the right person to make sure you integrate the solution with minimal interruption to your business. Many vendors will assign you a project manager. However, you should appoint an internal person or team that understands the ERP you’ve selected as well as your company’s systems.

Ideally, this person will be involved in the ERP onboarding process from day one: They will help gather requirements and will become fully acclimated to the new ERP. They will work alongside the vendor on any data conversions, coding customization, and application migration. They will coordinate all necessary training and will liaise between the vendor and internal staff.

Failing to properly manage your ERP onboarding can result in significant issues, not the least of which is halting operations. Be sure that the designated manager understands both the technical side of the deployment and how the ERP will be used strategically for the business.

As with most technologies, it’s important to think long-term when you’re selecting ERP software and a vendor. By doing so, you’ll better position your company and the vendor as partners for mutual success. There are hundreds of ERPs on the market in three different tiers:

Tier One: These ERPs are massive, powerful and expensive and are designed to service the needs of Fortune 100–1,000 companies, which may have tens of thousands of employees.

Tier Two: These systems are generally applied to organizations with annual revenues of $30 million to $500 million. Tier two ERPs typically offer tons of features and functionalities designed to scale quickly with fast-growing enterprises, interact with additional software applications and provide IoT capability.

Tier Three: Enterprises that fall into an annual gross revenue range of $0–$20 million would most likely look here, as would companies with one location or that are operating in one country with fewer systems and demands and have under 30 end users.

Depending on how you define SMBs, tier two and tier three would typically be their best choices.

Regardless of the ERP, you’re evaluating, make sure to review the vendor’s most recent products and updates, whether it will work within your existing systems and whether it has specialized experience in your industry. Check out its customers. Read online reviews, and ask similar companies or peers what ERPs they use. This will help ensure that your ERP and vendor of choice will become a trusted partner — and that you will get the greatest return on your investment.

Source: Arun Upadhyay


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history of erp software

A Brief History of ERP Software

To understand the present, you have to know the past. This is true of virtually every aspect of modern civilization, including—you guessed it—ERP software.

The platform has evolved from a promising (albeit clunky) specialization to a seemingly unclassifiable catch-all—all in just a few short decades. How did we get to this point in ERP history? Who brought us here? What even is postmodern ERP?

The answer, in short, is that it’s complicated. But there’s a lot you can learn from ERP industry touchstones and their subtly seismic shifts, the most pivotal of which are outlined in the infographic below.

Source: Zach Hale

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big data in erp

Big Data in ERP: Leveraging for support

Big data in enterprise resource planning – ERP – is defined as larger, more complex data sets. Especially from new data sources. These data sets are huge, to the point where traditional data processing software can’t manage them completely. For manufacturers, leveraging big data with ERP systems can be used to help solve certain persistent business problems. Not only does big data offers a huge amount of support to improve visibility and performance. It also improves your ERP system from sales forecasting and scheduling to enhanced quality control, and more.

Scheduling

Big data captures the information needed for all types of scheduling, and is more immediate and readily available, due to today’s expansive collection of delivery devices. Having real-time feedback from your ERP system can give manufacturers a leg up on scheduling efficiency and will ultimately lead to comprehensive ERP scheduling that, in turn, will create better overall project management efficiencies.

Quality Assurance

Predictive capabilities of big data can extend to product quality assurance as well. It allows manufacturers to channel, store and monitor every real-time data point along a production line in order to create better results at the work-in-progress phase rather than having to deal with problems only after a product hits the quality assurance floor.

Supply Chain

Integrating big data analytics in processes and operations leads to greater efficiency in the supply chain. According to Accenture’s report, Big Data Analytics in Supply Chain, the consultancy found that using big data within ERP systems instead of on an ad hoc basis led to 1.3 times the supply chain speed.

Having the ability to keep track of all the moving parts within the supply chain is a huge advantage. Big data improves visibility to each step of the supply chain process. Furthermore, it gives businesses a 360-degree view of where all of their assets are at any certain time. Big data improves supply chain reaction time by 41 percent, according to Accenture. When there is a product issue, the mix of big data and ERP systems can help ensure to handle it quickly.

Sales Forecasting

When combined with ERP systems, big data can help businesses predict demand for specific items. Individuals have the ability to track and trap customer trend patterns in real-time. They then can immediately apply that focused data to create further direct sales offers. For instance, a retailer could use big data to analyze how the release of a new iPhone model affects the sales of headphones and computer peripherals.

Posted on  by Elizabeth Quirk in Best Practices

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