Enterprise resource planning, or ERP, is transforming the way we do business. It’s the processes housed in one system that organisations use to manage and integrate different parts of their operations. This innovative software is helping businesses move into and embed ‘Industry 4.0’. If you’re looking for innovative ways to streamline your business, read on.
But first, what is industry 4.0?
Industry 4.0, also known as the fourth industrial revolution, has been so named because of the changes across industry in the 21st century. Now becoming more automated, inefficient processes are replaced by smart and modern technologies. The change is about more than just investing in new technology – it’s about changing the way you operate, using technology powered by the Industrial Internet of Things. A technological revolution is taking place and organisations need to adapt to ensure they are ready for the changes.
The benefits of embracing digitalisation
Although ERP systems will help businesses take part in the next industrial revolution, there are many different reasons why you should embrace digitalisation:
Cost reduction: ERP solutions are a long term investment, reducing costs by optimising inventory management, machine downtime energy-efficiency.
Reduced lead time: Faster and more effective monitoring of supply chains and manufacturing processes enable forward planning and reduce delivery times.
Predictive analytics: Industry 4.0 facilitates integration manufacturing equipment, setting up live data feeds to put it online, digitalising its performance data via a digital twin so you can predict and analyse potential issues before they arise.
Better customer service: ERP systems with in-built CRM functionality, provide you with greater access to customer information, speed up your response times and accuracy during the ordering process.
Lower inventory costs: ERP systems can determine how much stock is needed and when, suggesting order proposals which help you to order the inventory you actually require and minimise waste. This means that you can avoid having too much inventory and optimise your supply chain so you don’t end up with too little.
Better security: ERP can be provided as a cloud, hosted or on-premise technology, offering a whole range of benefits with regard to state-of-the-art security measures, ensuring that your business is secure from cyber threats and data loss.
Governance, risk and compliance: Some ERP systems, such as WinMan, have the capacity to build in a full governance structure, ensuring you remain compliant
with all of the appropriate standards you need to meet.
Sales management: ERP systems allow you to generate quotes, creating complex sales opportunities and also give you access to sales reports, so you can monitor trends and adjust future plans accordingly.
