IoT bringing new potential to the supply chain

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The Internet of Things (IoT) is gaining ground in both popularity and awareness, but the latest advantage companies are finding in it are improvements to their supply chain.

According to EBN Online, IoT is delivering significant support to supply chain management 2.0 – a major overhaul in how the supply chain operates in manufacturing and other sectors. This is due to the fact that manufacturing ERP software is evolving to incorporate IoT and mobility, and the wide-spread proliferation of IoT thanks to massive mobile device adoption in the workplace. In fact, Gartner recently noted that there will be a 30-fold increase in internet-connected devices by 2020, driving significant changes to how the supply chains operate.

"It's important to put IoT maturity into perspective, because of the fast pace at which it is emerging, so supply chain strategists need to be looking at its potential now," said Michael Burkett, managing vice president at Gartner. "Some IoT devices are more mature, such as commercial telematics now used in trucking fleets to improve logistics efficiency. Some, such as smart fabrics that use sensors within clothing and industrial fabrics to monitor human health or manufacturing processes, are just emerging."

IoT is expected to bring about "enhanced solutions that intelligently connect people, processes, data, and things via devices and sensors," EBN Online noted. This, for manufacturers, will be supply chain management 2.0 – a different way to looking at supply chain data intelligently, utilizing analytics and automation to boost visibility and manufacturing efficiency.

From reducing asset loss to improving stock management, these changes will deliver key opportunities for companies looking to optimize inventory management and other back office processes. By investing in the right business management software, IoT and mobility will be able to be harnesses for maximum effect.

Mobility key for modern ERP strategy

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More companies are looking for ways to embrace mobility and make it a value-driving trend within their operations. For manufacturers, the back office could be the place to accomplish this, taking business management software mobile and utilizing ERP solutions to drive efficiency and flexibility.

According to Enterprise Apps Today, mobile ERP has been on the rise for a little while, and as more firms embrace it the value of doing so becomes more apparent from their success. Adam Cheatham, an ERP consultant, noted during a webinar that mobile manufacturing ERP software offers "an opportunity to eliminate gaps and streamline processes in real time."

"An increasingly connected world leads to increasing speed of business," Cheatham continued. "You can interact in real time with people from around the world. We are seeing a push for having a single source of truth and being able to interconnect it throughout the globe."

In order to succeed with mobile ERP, however, there are a few steps that companies have to consider:

Function – The functionality of the ERP systems in the first place is essential. Many firms may realize that they need to update their manufacturing software in order to make mobile a reality.

Form factor – Mobile devices function in a very different way than desktop and laptop PCs. The primary issue is the smaller screen size, which can be troubling to some workers. This makes them excellent for performing quick and minor tasks, but a full audit or sales pitch will likely need to be performed on a bigger machine, the news source noted.

Connectivity – The primary advantage mobile devices offer is the "any where, any time" accessibility of data. However, this means increased focus on connectivity in the workplace and remotely. Companies will need to potentially update their networks and improve access to ERP apps in order to deliver on performance demands.

Usability – User experience relies on the usability of these apps and devices. From the operating system to the apps that the business invests in, they have to align with user expectations and needs. Cheatham noted that pulling out a tablet to perform work sets a certain expectation of efficiency and function, and if the app or UX falls short of that expectation it will ruin the experience, even if it is better than an older system overall.

Security – The final key issue that manufacturers have to contend with is the high security demands of mobility. While these devices aren't by necessity less secure than other computing options, they do require a different approach to security that companies will need to prepare for.

While the news source offers further advice on improve mobile integration with ERP solutions, companies will benefit most from investing in assistant with taking their back office operations to the next level and leveraging these tools to maximum efficiency. Mobile ERP trends are just starting to catch on and companies that embrace them early on will be able to gain a clear competitive edge.

What does ‘state of the art’ mean in ERP software?

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While manufacturing ERP software has evolved significantly over the years, the term "state of the art" hasn't always applied to these systems. Many firms have struggled to keep their business management software aligned with the other technology they invest in, issues with security and interoperability occasionally occurring. Yet there is a way to bring ERP systems up-to-date by focusing on the user experience and how back office employees interact with these tools.

The primary struggle manufacturers experience with their ERP solutions such as inventory management software is incompatibility with other, newer systems they invest in, such as cloud platforms or mobility. This creates a divide between the innovative productivity technology being deployed and the primary systems being used for daily workflow. This turns ERP into a legacy system, rather than the cutting-edge solution for accounting or inventory control that modern companies need.

In order to address these concerns and swing ERP software back into the 21st century, firms need to focus on customization. ERP customization allows manufacturers to integrate the features they want, leave out the ones they don't need and optimize these tools with their other platforms and solutions in mind. "One size rarely fits all," TechTarget noted in its Essential Guide to ERP trends, and to get the most out of a solution, a business has to configure it to its size.

The right tools will help get the job done faster, more efficiently and more productively. Firms that embrace customizable ERP will find that they are leveraging these resources more effectively moving forward while delivering the support their workers need to maximize office workflow. The end result is a state of the art ERP environment.

Ecommerce rises in popularity in ERP markets

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The use of manufacturing ERP software to harness the potential of ecommerce is growing more common across the industry, and companies are looking to improved business management software solutions to optimize their efforts in this arena.

Manufacturing software can deliver significant improvements to accounting, human resources and inventory management processes, but its direct impact on profitability is often more tenuous. However, according to SmartData Collective, more firms are looking to integrate ERP solutions with their ecommerce efforts, directly influencing the supply chain, customer relationship management and shipment/delivery processes. Furthermore, with 47 percent of companies expected to invest in cloud-based ERP solutions within the next five years, this means more firms will be enabling the potential of ERP supported ecommerce.

The idea is to harness B2C style platforms for B2B efforts — effectively delivering the same style of user experience while optimizing ecommerce efforts for enterprise sales. This allows manufacturers to put strategies such as incentivization into place while building a stronger relationship with suppliers and customers. Furthermore, the right inventory management software could help firms integrate a sort of automation into their sales efforts.

Companies already use ERP software to monitor and track inventory, sales, shipments and customer relationships. Taking these a step further by integrating ecommerce can help businesses improve order tracking, sales performance and much more. The agility that firms gain from these tools alone will support further sales and efficiency in back office operations.

In order to align ecommerce goals, manufacturers need to ensure they are investing in business accounting systems that can support the varying needs of these strategies while still delivering the benefits of traditional ERP solutions. The right platforms will enable new uses that expand upon traditional resource planning efforts.

Evolution of ERP solutions helping companies streamline efficiency

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For most manufacturers, business management software has been a part of operations since computers entered their back offices. However, the evolution of these solutions from the enterprise information systems of the 60's to cloud, mobile and advanced analytics-based ERP software today has influenced significant changes in manufacturer operations and how firms approach efficiency.

According to Wall St. Cheat Sheet, ERP systems used to belong to the major corporations, but today small businesses are leveraging it inventory management software and accounting solutions just as effectively as their larger counterparts. EIS systems were originally for financial or inventory automation, and these tools evolved to include scheduling, product planning, materials requirements and eventually overarching supply chain management and even customer service and CRM solutions. This evolution resides not just in the demand for ERP software, but that recognition that these tools continue to offer more to companies looking to streamline their back office operations and enhance productivity on a broad scale.

The primary advantage of manufacturing ERP software is the boost to profitability. This is achieved through a series of smaller enhancements to operations that firms have to embrace, such as project management automation, improvements to HR and to consolidation of these resource into single computing systems. Ultimately, this will help optimize workflow around the technology companies are using, rather than implementing a different system for every process, which slows down efficiency.

From shipping to product planning, ERP solutions are critical for manufacturers to keep up with demand and competitors' progress.  These are integral tools for businesses looking to maintain growth in increasingly complex global markets, and establish a baseline for quality and efficiency of service at the same time.

Cloud leads ERP software markets

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Cloud-based manufacturing ERP software is taking the lead in global markets, pushing on-premise strategies to the backseat as companies seek to optimize their technology and operations.

According to a recent study by Infiniti Research, the global SaaS ERP market is anticipated to show remarkable growth between 2013 and 2018. With a CAGR of 13.8 percent, this would bring cloud-based business management software ahead of on-premise solutions, thanks in part to faster deployment times and easier management of these resources. On-premise strategies require anywhere from 12 to 36 months for complete installation, whereas cloud-based systems can take a matter of weeks.

"Companies are benefiting from the ability to deploy SaaS-based ERP more quickly than traditional on-premise ERP and the method offers ease of adding new user functionality," the research firm noted in its release. "Currently, companies are facing intense competition and require faster deployment of ERP in order to function better, which is a major contributor to growth in the Global SaaS-based ERP market."

The key advantage of cloud-based ERP solutions is the low cost and ease of scalability that these solutions provide. Through advanced customization and configuration, manufacturers can integrate Microsoft business software throughout their back office processes with ease, promoting inventory managing, accounting and human resources improvements, among other strengths. These tools then lend themselves to stronger operations overall.

Infiniti Research also noted that many firms are turning to SaaS ERP strategies because of the energy conservation these tools offer. They ease configuration by implementing templates and standardizing the user experience, eliminating time wasted setting up new accounts, and the user-specific configuration of servers and storage systems. The right integration solution can save firms time and money through all their business management needs.

ERP software is key for understanding audit trails

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Audit compliance and the audit trail are critical components of enterprise operations, and as adoption of advanced analytics and other business intelligence solutions increases, companies need to consider the best way to support data audit needs.

According to Economia, finance departments spend nearly 70 percent of their time on average managing accounts, and only 30 percent analyzing data, despite a large uptick in the adoption of BI platforms. Data analytics and reports still require considerable time reconciling the data trail back to ERP systems to ensure accuracy and authenticity that hinders true progress. This is why businesses need to improve their audit processes to accommodate for faster, more efficient intelligence efforts.

Manufacturing ERP software that supports a new model for BI will encourage further use of analytics and help ensure the success of these efforts. Embedded financial services support will engage audit trail processes more effectively, allowing companies to automate the tracking of data models and reports to their sources. This will free up teams to focus on the true benefits of analytics and start leveraging these tools for their actual purposes.

In order to deploy better audit trail practices, firms will need to invest in higher-quality business accounting systems that will enable automation and ERP support for audit trail compliance. In turn, this will allow companies to minimize their time spent confirming connections, and more time putting those connections to use for profit. Ultimately, this will bring about larger ROI on ERP systems and business management software, while ensuring that evolving compliance needs are met going forward. The end result is a stronger back office to support a manufacturers other initiatives for growth and innovation.

ERP solutions can help firms with indirect tax compliance

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While not a complete solution, ERP software can play a critical role in meeting indirect tax compliance. By melding ERP solutions with more focused indirect tax software, manufacturers and other enterprises can achieve full compliance and reduce unnecessary spending in a number of areas.

According to Economia, the reason that manufacturing ERP software alone cannot be used for full independent tax compliance is that both environments are undergoing major evolutions. ERP software is improving as the regulations regarding the expansive indirect tax market landscape are changing as well. This presents new complications and challenges as companies move forward, even though ERP solutions offer critical improvements in a broad variety of processes.

This has led many firms to embrace a hybrid approach, integrating focused indirect tax compliance solutions with business accounting systems to minimize the risks of manual errors or out-of-date tax codes, the news source reported.

What ERP software does provide in the equation is linking processes together more effectively to improve efficiency and productivity in accounting, inventory control and other areas of operation that can affect indirect tax compliance. In fact, embracing a hybrid solution has helped companies reduce their unnecessary spending on IT by upwards of 3 percent, reduce poor cash management by 10 percent and even save 13 percent on manual processes and tax errors, the report noted.

To see these improvements and properly leverage ERP solutions for tax compliance, manufacturers have to invest in the right business management software in the first place. By deploying systems that integrate with unique operational needs, firms can streamline the benefits and better leverage these technologies for growth and savings even as the related processes evolve and change.

ERP solutions can help manufacturers embrace energy efficiency

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The desire to cut energy costs, in both power and heating, can be a major attraction to manufacturers. However, embracing energy-efficient strategies can be difficult for large, or even medium-sized producers. New technologies are offering startling potential for small, medium and large scale operations to enhance their power and heating processes and start reducing both the cost of energy and their overall carbon footprint.

According to Phys.Org, one of the major issues plaguing manufacturers and other industries when it comes to energy efficiency is cost-efficient technologies. High standards and greenhouse gas emissions regulations can put significant strain on a manufacturer's budget, but new solutions such as plasma high-resistivity heating can help firms utilize their standard industrial furnaces to supply heat for production processes.

Manufacturers alone are responsible for about one-third of the planet's energy consumption, and 36 percent of its carbon emissions, making this demand for efficiency more important than ever before.

However, adapting to these new technologies and ensuring proper management and integration with operations creates other concerns for firms on the back end. Adequate administration and management efforts will be critical for meeting new demands on business accounting systems and other processes. Additional assistance will be needed both for managing financial demand, as well as easing transition efforts — finding a sudden influx of funds, rather than handling a continued drain on resources can be a jarring experience in business administration.

By investing in high-quality manufacturing ERP software, firms can optimize their approach to energy efficiency and ease the transitions to new technology that will help them change how they interact with the environment, save money and boost their brand reputation all at once. 

Data consistency important for manufacturing back office operations

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Having quick and reliable access to data is one of the biggest trends companies are seeing these days, with the cloud, mobility and data analytics solutions driving progress. However, when it comes to turning ROI on these new IT investments, businesses also have to consider the consistency of their data.

According to Data Center Knowledge, much of business IT – specifically data quality and consistency – relies on mainframe design. The proper structure for mainframe design, in terms of user interface and the client-server architecture, is standardized around another technology that companies rely on, ERP software.

Inventory management, account and business management software all rely on enterprise resource planning solutions to optimize and integrate properly. The news source noted that, as firms embrace new technologies, from Software-as-a-Service to virtualization, manufacturing ERP software continues help manage the one resource that is critical for all of them – data.

This puts data quality and control into the spotlight at all times, and companies have to adapt accordingly, focusing on both the speed of their data management and the accessibility of raw data and the results of analytics. Gartner has predicted that analytics will continue to rise, and proper utilization of data and control over the processes that feed into it will be essential.

"By 2016, 70 percent of the most profitable companies will manage their processes using real-time predictive analytics or extreme collaboration," Gartner predicted in 2013 at its annual Business Process Management Summit. 

By investing in and deploying higher-quality business management software solutions, firms will be able to leverage their information more effectively across all areas of operations, supporting new and old technologies and the general rise in data usage. Ultimately, it will require continued upgrades of these systems to remain competitive and relevant in tomorrow's markets.