ERP for Manufacturing Industry
5 Major Benefits of Turbo-ERP Software for Manufacturing Industry
Enterprise Resource Planning (ERP) software isn't only confined to enterprise-sized or large scale companies but also the small and medium enterprises around us. most businesses, no matter its size and complexities, can get benefited from an ERP software meeting its functions. Unlike other, an ERP features a very crucial role to play in manufacturing companies.
Manufacturing is taken into account to be the backbone of the economy in business and an ERP acts as a primary tool for gathering all transaction information from every corner of the business and translating it into financial data and other insights.
Due to stiff competition and an increase in demand of consumers, every industry faces several challenges in meeting their goals. With the assistance of ERP software, they will achieve the complete, latest, end to finish service of business application. An ERP system comes in an integrated platform encompassing every function within a manufacturing or other departments, streamlining every business operations of all departments of a company.
To know precisely how a Turbo-ERP Manufacturing software can help the manufacturers, firstly we want to know the challenges faced by the manufacturing industry. the subsequent are challenges faced by any manufacturing industry:
(1) Real-time access to information
There are many benefits to implementing ERP software into your manufacturing business, like access to real-time data. By gathering this information on the fly, you'll have a greater understanding of what’s happening on the production floor and within the warehouse. This information can assist you determine ways to enhance your business depending on the quality of ERP software you have got, you can even forecast your sales. The real-time data you can receive includes customer transactions, the situation of an order, and inventory of raw materials, according to ERP Focus.
(2) Improved collaboration and communication
Manufacturing ERP systems enable firms to share important production-related data with not only internal employees but with external stakeholders like suppliers, distributors and sometimes even end customers. This improves communication and collaboration resulting in smoothening of activities among these key business partners. as an example, when a vendor is falling in need of inventory, he can use the ERP software to speak the necessity to the sales team. the knowledge for orders provided by the sales team will be communicated to the operations team and therefore the additional products can be manufactured. Thus, ERP for manufacturing process allows department heads to effectively manage data from external parties to improve decision-making efforts.
(3) Improved Inventory Management and tracking
An ERP sufficiently provides control over inventory components, precise demand-planning, streamlined production scheduling, and powerful coordination of distribution channels, enabling the businesses to trace on-time delivery of products. Especially if they’re involved in the production, manufacturers will have a large amount of inventory coming in and going into production. With the assistance of ERP, manufacturers are going to be ready to track all of this inventory, alongside their characteristics, numbers, locations, etc.
Many ERP systems automate serial and lot tracking and traceability, also as swift product recall processes, saving the corporate time and money. Especially within the food manufacturing industry, it comes as a blessing as products are perishable. The facilities like a lot, serial numbers, FIFO helps in tracking the expiry dated products, thereby efficiently moves the stock from inventory in real-time without any loss of resource.
ERP software makes quality management easier. The quality of the merchandise is assured with ERP, which reduces the amount of finished goods that are discarded. You gain real-time business visibility with analytics and reporting. The predictive defect analysis made available with artificial intelligence provides deep, timely insights into all aspects of your business. This limits wastage reduces cost and increases the margin of profit for a manufacturer. because the old saying goes, money saved is money earned.
(5) Production planning and control
Production planning and control involves generally the organization and planning of the manufacturing process. Specifically, it consists of the planning of the routing, scheduling, dispatching and inspection, co-ordination and therefore the control of materials, methods, machines, tooling and operating times.
Manufacturing ERP Modules
Turbo-ERP (Enterprise Resource Planning) is an integrated solution for manufacturers, traders, exporters, and importers.
Turbo-ERP is a modular ERP software solution for managing operations for Micro, Small and Medium enterprises.
- Production – Whether it's, make to stock or make to order, Production module controls the top to end production process.
- Sales & Distribution - Sales, Service, Marketing.
- Purchase Management - Procurement of Raw Materials, Packaging, Supplier Management, Supplier Evaluation, Awarding order.
- Store Inventory - Automated Stock levels, Reorder process, Inventory status reporting or Stock taking, Traceability integration, Recall procedures.
- Maintenance – Maintenance module helps to set the periodic maintenance calendar, Adhoc maintenances, spares inventory and normal wear and tear.
- MRP – MRP helps to exactly plan and procure raw materials and thus optimized stockings are often done.
- Analytics - Business Intelligence, Knowledge Management, Reports Dashboards.
- Quality control (QC) – QC controls the quality aspects of the production.
- Finance - Cost Analysis - Product Costing Job Costing, Invoicing, Profit Analysis, Assets Depreciation, Taxation.
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