NAIROBI (Kenya), September 14 - The COVID-19 epidemic has caused a slowdown in the global business market, causing many companies to close their doors permanently. Although this initially left many businesses struggling to adapt, others have turned towards business software to unlock new opportunities and improve their efficiency.
All businesses feel the pressure to reduce costs, outperform their competition, and provide high customer satisfaction. To ensure that organizations are relevant in Industry 4.0's era, and to find new efficiencies during the economic recovery, it is time to embrace, embrace, and adopt technologies such as Enterprise Resource Planning (ERP), systems that will enable them to thrive over the coming years.
How can ERP help my company?
ERP solutions allow organizations to gain greater visibility and insight into their operations. ERP can be synonymous with productivity and efficiency. When ERP solutions are integrated into business workflow processes, it is much easier to gain real-time insight into all aspects of your business.
All critical data such as vendor lists, bills, and operational processes are stored in the ERP system. This information can be accessed by all team members to ensure consistency and coordination of work processes. The ERP system facilitates faster collaboration among employees by ensuring that information flows quickly and consistently across business functions via a central repository.
Business leaders have instant access to important information that allows them to make informed business decisions. This will enable them to keep a competitive edge no matter what industry they are in.
Improved inventory management
Modern distributors and manufacturers have to be able to see their inventory levels. This is one of the greatest problems they face. Global manufacturers are now adapting their supply chains to meet fluctuating demand, as they have to find alternative suppliers to the growing shortage of components and parts caused by the pandemic.
Procurement teams can play an important role in solving supply chain problems by implementing an ERP system that provides greater visibility into their supply chain, particularly inventory levels at critical stages. They should focus on accurately calculating demand, posting tenders, and ensuring that the correct levels of inventory, parts, and raw materials are ordered, delivered, and at the right prices.
Impending problems can be easily identified as data becomes easier to access and flows become automated. This allows the business to quickly adapt to any potential disruption. Companies can adapt more efficiently than changing production priorities to address a possible customer supply problem.
Operations teams can make better decisions if they have access to the right information. Businesses can have better control of oversupply and demand and be able to accurately forecast the cost of a product. Optimal visibility to inventory is key.
Mobile access for business functions
While businesses want to be stable, they now realize they must be flexible. What can businesses do to adapt quickly to market changes, as we have seen recently? How can businesses continue to operate in the event of another crisis such as this? Business leaders need to consider solutions.
They can make changes to key elements of their supply chains, production operations, or shipment activities without major disruptions.
A superior ERP system has the added benefit of being able to access it from any device, even a mobile phone. The mobile platform allows users to create apps that can be used on any device. This gives them instant access to key business information such as customers, suppliers, and inventory items.
Unlocking business insights
ERP systems allow business leaders and top managers to make informed and intelligent business decisions, backed by data. Users are empowered with relevant, real-time data trends, information, and the ability to achieve their goals, targets, and deadlines through improved collaboration. They also can take action quickly and proactively.
ERP customers also have the benefit of ERP vendors being able to maintain close ties with the industries they serve and be able to respond quickly to emerging needs. This is a less obvious but still important benefit. This assures customers that their ERP systems will continue to grow as their mid-market business grows.
The way businesses view their ERP maximizing systems will change forever. ERP solutions will be remembered for their ability to sustain business continuity in the face of unforeseen changes, as well as their well-understood value of maximizing profit, providing top-notch customer service, and delivering quality products.
