A supply chain is a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer. Management of supply chain is necessary to make a business efficient. Most supply chains have greatly expanded due to the proliferation of computer networks and Internet tools and technologies during the past two decades. An optimized supply chain stays lean, manages costs and perhaps most critically responds instantaneously to even minor fluctuations in demand.So how can ERP in supply chain management help?
Spectrum ERP in Supply chain management can Optimize your business by:-
Demand Planning & Forecasting
Management of Supply Chain – ERP links the principle functions of supply chain with best-in-class technology for an effective demand-supply mechanism. With fully integrated demand planning and forecasting module, one can easily generate a data-driven logistics plan. Analytical capabilities of ERP enables user to analyze supply chain risks and uncertainties and prepare for them. This includes analysis of need time vs. supply time across multiple vendors and associated costs, quality, lot size and the like.
An ERP in spply chain management protects warehousing processes from glitches that could hamper efficiency. Inventory management is expensive, ERP solutions enable user to minimize handling costs and maximize warehouse efficiency. As Distributors and manufacturers deal with the tight pressure of order fulfillment deadlines, movement of raw materials and finished goods, they often get the solution through a well implemented ERP. When it comes to managing crucial processes like pick planning, consolidated picking, order pack-out, cross-docking, RFIDs and manifest interfaces, an ERP does it all.
Accuracy is the essence of any logistics and supply chain management system. Inaccurate logistics planning can create a situation where nobody is sure about the stocking levels, replenishment plans, overstocking, alternate items availability, and stock availability at other locations. Naturally, lack of such information creates disruption in customer service leading to financial losses as well as customer dissatisfaction.
ERP in supply chain management gives you the ability to automate inventory tracking. You can use bar codes, serial numbers and RFID tags to track all items, from procurement and warehousing to purchase, sales and delivery. This ensures inventory traceability at all times, along with providing accurate information regarding inventory levels and sales. Businesses can use this information to project product demand and maintain appropriate stock levels.
Data Analysis and Reports
One of the best advantages of ERP is its powerful data-analysis capability. ERP constantly collects and analyzes data, providing you the information you need to gauge where your business is in terms of productivity, efficiency and financial health. ERP generates reports that are intuitive, understandable, easy to interpret, and most of all, actionable. They feature intuitive and impactful visualization. You can also use the reports to monitor operations and predict product demands over a period of time.
ERP allows you to automate several necessary functions that, when performed manually or even with non-optimized software, consume a great deal of staff time. ERP automates and streamlines invoice generation and distribution, as well as billing, productivity reports and many other data-based tasks. This results in greater financial accuracy and better use of staff time — ultimately saving your business money.
ERP allows you to program both data-based goals and sales goals. You can also track the progress of your business goals on a daily basis. You can set goals for individuals, teams, departments, facilities or the entire organization. This is a valuable tool that helps you assess the productivity, efficiency and overall success of your organization.
Now you have an idea on how Spectrum ERP in supply chain management can help your business