How ERP helps to Navigate Manufacturing Materials Shortage
Past two years have seen extreme resource crunch driven by the global pandemic and geo-political tensions across the world. The seamless production process had been hindered due to the shortage of raw material and other supplies in almost all manufacturing businesses. It has not only impacted the manufacturers but also consumers who had to face higher waiting time for what used to be immediate availability. The main reason for delay in supplies were primarily characterized by delay in acquiring raw materials and availability at a higher cost. These challenges are real and there to stay in the coming years. One effective way to manage such challenges is to optimize the use of available resources. Let’s see how manufacturing-specific ERP can help businesses to navigate these manufacturing material shortage and become resourceful:
- Top 3 Reasons ERP is Important for your Manufacturing Business
- Components of ERP you Need to Know
- All you need to know about ERP for Small Business
HOW ERP HELPS TO NAVIGATE MANUFACTURING MATERIAL SHORTAGE
Availability Crunch and Rising Prices
Though the global economy seems to be recovering slowly from the aftermath of the pandemic, the supply crunch has not come down so far as to a stage where normalcy has been restored. With passing time, the supply crunch seems to be just moving from one country to another or from one industry to the other. As a result, businesses end up piling stock, blocking their working capital which results in an inefficient and expensive manufacturing cycle. Such haphazard piling up further results in supply shortage and rise in material price affecting the customer price.
How can Cloud-based ERP Help?
Though the supply chain cannot be controlled by manufacturers, it can be reduced to a great extent by using a suitable cloud-based ERP software. ERP is an Enterprise Resource Planning software which integrates data of different operational processes and provides analytics on a real-time basis. This allows the management to get a realistic view of business operations and take actions on their pain point in a timely manner. It can help in planning timely shipments reducing the chances of disruptions in the manufacturing process. Also, this data can be used to make the manufacturing process lean, driving the business up for a competitive advantage. The bottom line, management takes informed business decisions rather than playing a guessing game.
Importance of Manufacturing ERP Software
As such using ERP software can help manufacturing businesses but using a specific solution made for the manufacturing industry helps nail it in a much superior way. With features available for stock estimation, production projections, project time estimation, material planning, and scheduling, a manufacturing cycle results in efficient workflow and improved collaboration. Integrated business data helps the manufacturing business owners to continue manufacturing while managing crunch of raw-material flow.
How can Turqosoft Help?
ERP consultants at Turqosoft can help you define your business processes & KPIs with proven solutions in the manufacturing space. If you are looking to gear up the manufacturing game get in touch with us at +91 9841205845 or write to us at email@example.com. Also, you can follow us on LinkedIn, Facebook, Twitter, or Instagram to stay updated on technology trends helping the manufacturing industry.