Transforming Business with ERP

It is true that without any kind of   financial management   or accounting solution, an organization cannot survive.   Financial Management System   or FMS is designed to plan, organize, direct and control an organization’s financial resources. A   financial management system   keeps the track of money as it comes in and goes out of the business. A manufacturing organization requires multiple tools to manage different departments. Instead of investing in many tools for managing finance, production, inventory, etc. It is better to opt for a single system that integrates all these modules. ERP or enterprise resource planning software is an end-to-end solution that integrates all business modules and focuses on streamlining the operations. Financial Management System   in ERP can help you strategize business goals and track income and expenses to help with financial planning. · You need   financial management system   when: · You don’t have cont...

Wholesale and distribution is an important segment in the marketing industry. Nowadays, leading distributors are deploying state-of-the-art software solutions to create, deliver and sustain customer experiences. Usually, the wholesalers and distributors have to work at different sites, in different warehouses for controlling, managing and replenishing the inventory. Therefore, it becomes a tough task to make all the operations streamlined and systematic. Enterprise Resource Planning software is considered as a suitable solution for wholesale and distribution industry as it solely manages all the comprehensive operations – procurement, sales, production, quality control, warehouse, supply chain, etc. in a streamlined manner. Some of the ERPs such as OptiProERP can be easily integrated with Magento to facilitate the sale of goods online. SAP, Oracle, and Netsuite are a few ERP software solutions which are also preferred by many.

In the manufacturing industry, warehouses are at its core. Logistics operations in a warehouse include the flow of both physical goods and information. This includes the flow (shipping and receiving) of physical inventory, as well as that of more abstract goods, including information and time. Automation and control of the warehousing operations can be done in three steps: 1. Invest in the latest technology hardware to accurately manage inventory. For example, label every material you procure by using the latest technology like – RFID tag, barcode, and QR code 2. Use a powerful software to perform complex processes, calculate algorithms and select a suitable stock control methodology for you. 3. Integrate the hardware and the software by means of an automated solution. Warehouse Management System ( WMS ) comes handy in an ERP solution . Advanced warehouse management system ( WMS System ) gives you real-time insight into your warehouse, and equips you – and all your employees – with t...

Planning is the key to proper management in a manufacturing company. Therefore, every manager and planner needs Material Requirement Planning software (MRP). Let discuss What Is MRP ? Material Requirement Planning is a business software that helps product-based manufacturers understand requirements in the industry and balance supply chain phenomenon. It manages inventory, schedules demand, and ensures the timely delivery. How Does it Help Manufacturers? The main function of the Material Requirements Planning system is to guarantee the availability of materials for the required production, procurement, or distribution. While using the MRP system , the user should maintain and manage the correct and reliable planning parameters such as replenishment lead time, safety stock, delivery time, and more. Material Requirement Planning software accelerates the manufacturing process by clearly defining which product is required, in what quantity, and at what time. MRP uses the information you ...

Material Requirement Planning software allows manufacturers to operate efficiently by synchronizing the flow of materials. It ensures that minimum stock levels are maintained to fulfill the sales orders. MRP software automates the calculation of materials, capacity, and resources and forecasts inventory demand by the sales order. Material Requirement Planning manages monitors, controls, and reports the inventory operations so that minimum stock levels are maintained. Here are the five specific functions of an effective MRP system: Manufacturing Resource Planning Master Production Scheduling Demand Production Operational capacity Capacity Resource Planning Modern MRP system software encompasses intelligent built-in tools that promote real-time visibility across product lifecycles. With a user-friendly display, you can check supply and demand information and maintain minimum stock to fulfill sales orders.

Selecting an ERP implementation partner that can work according to your specifications is quite a daunting task. The ERP service provider should have a proven track record and prior experience in helping organizations like yours achieving excellence. Every business owner aims to achieve maximum profitability by investing in business management software that is the right fit for their business. Let us have a closer look at the list of criteria for selecting a good implementation partner: 1. Partner competency –  It is important for you to know that the partner you choose is competent to meet your business needs or not. 2. Industry experience – In what domain has your partner worked and what were their prior experiences? Take note of these points. 3. Customization and integration – Do they have capabilities to get a third-party tool integrated into your system if required? It is better to choose a partner who offers customization services that can meet the specific business require...

ERP selection is a time-consuming task. It is an investment that promotes productivity and future growth. Before selecting an Cloud ERP , make sure it aligns well with your business needs. Easy to learn:  Make sure that is not too complicated and your resources can be trained easily during the implementation process. Intuitive dashboards and simple interface are good for learning the software; it should require a low learning curve for the end users. Seamless integration:  Challenges and needs of every business differ from one another. The ERP solution you choose should integrate well with third-party software (HR, accounting, ecommerce etc.) that manages different areas of business. In this way, you get a centralized solution for managing every piece of data in real-time. Latest technologies and future scalability:  In the era of industry 4.0, successful ERP software should embrace technologies such as AI, cloud services and IoT. The technology evolves too fast. The co...