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Best ERP System for Manufacturing

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Jennie Miller

Manufacturing industry, despite all the challenges such as global pandemic and economic recession, is expected to continue to grow. Not at a fast pace due to economic conditions and various internal challenges, but it is expected to take a leapfrog in the next few years.

Apart from this, many discrete manufacturers still face difficulty in business process optimization and improvement that are mandatory for increased ROI. They lack in forecasting future demand and this is mainly because they are not using the best manufacturing software solutions with advanced reporting and forecasting tools. Therefore, they cannot estimate the number of products they need to produce and sell in the following months or years. As a result, they fail to meet the sales target and hence suffer with lower ROI.

The Solution:

Investment in the best ERP software is the right solution. It not only helps automate, streamline and accelerate your business operations, but with scalable reporting tools and predictive analytics helps make accurate sales and profit forecasting. Regardless of the strengths and challenges a manufacturer faces, a thoughtfully selected and implemented ERP solution is the best of all investments he can do to take his business to the next level.

Let’s take a deeper insight into how you can increase your ROI using an ERP.

Transform Your Marketing Strategies:

An ERP provides real-time data that allows the manufacturers to make accurate forecasts along with considering external events such as current market trends, fuel prices and exchange rates. In addition, they need to ensure that their marketing and sales teams remain updated on all such matters so that they can optimize their marketing strategies accordingly.

Digital marketing is the most suitable approach because it’s cheaper than the traditional methods. All you need is to optimize your website content and make the best use of organic and paid advertisements; plus, personalized email marketing. And, this all could be done with the help of data stored in your ERP database.

Clear Benchmarks For Increased Sales:

As a discrete manufacturer, you should understand the significance of clearly defined returns and therefore, set definite benchmarks based on information stored in your manufacturing ERP to achieve increased sales and profits. This is the best possible solution to increase your sales the right way. Since, clarity in predefined returns is related to higher sales, greater profit margins, increased revenue and reduced production or overhead costs it also helps in improved employee retention and higher customer satisfaction. All these factors play a significant role in increasing your sales rate.

Moreover, you precisely need to set multiple benchmarks for ROI goals. For instance, setting higher sales throughout the year as a goal, the better approach is to try increasing sales during specific periods and in certain territories. Now, for this you need data and this is where an ERP solution with customer relationship management component and integrated marketing tools can help you.

 

Manufacturing Resource Planning Software

Improvise Production Design/packaging:

To gain more returns on investment, you need to decrease overhead and production costs. Manufacturers can control the production costs in different ways; for example, they can change the product design without compromising on the quality and can also modify the packaging materials. If you think that both can cause you to sacrifice on the product and packaging quality, then a better option is to negotiate with your suppliers to get materials at discounted rates.

Manufacturers can also reduce overhead costs with the help of an ERP software. They can not only control production cost by managing time, material and resources waste, but also control procurement and labor cost. For the reason that most of the manual jobs move on to automation after ERP deployment across the organization. Moreover, you can allocate the saved amount more appropriately where it is needed the most.

Empower Employees To Generate More Revenue:

Another way to increase ROI is empowering your employees with the right ERP so that they can become better revenue generators by focusing on more important tasks instead of wasting their energy on daily monotonous, time-consuming jobs. ERP system automates the daily business processes, freeing up workers to invest their time in jobs that actually generate profits.

For instance, an ERP software automates the sales order process and automatically connects it to the accounting system and helps generate the accurate reports without involving complicated excel or google sheets.

Bottom Line:

Achieve business agility using the most reliable ERP solution with all essential tools that can also help increase ROI.

Source: https://www.mie-solutions.com/mie-blog/mie-trak-pro-best-manufacturing-software-increased-roi

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