Manufacturing industry is changing with time, predictive analytics has now become a necessity for manufacturers rather than just an added tool. Enterprise Resource Planning (ERP) solutions has become a usual software to centralize and process data in a manufacturing industry. Manufacturers are yet to take full advantage of ERP to improve predictive analytics for their company. ERP solutions can not only accumulate and present data in real-time, it can also integrate that information with pre-existing analytics to form a more accurate picture of a company’s efficiency, productivity, maintenance requirements and financial growth. ERP systems can create future models for a business by applying past data to real-time analytics.
Here are a list of ways how manufacturers can maximize the utilisation of ERP solutions to advance their predictive analytics:
Business intelligence with ERP
An ERP program gathers and analyses enterprise data in real-time from a centralised place for all the corners of your business such as manufacturing, operations, finance, sales and marketing, customer support, IT, HR, etc. An organisation can now sync all the data with ERP tools pre-existing analytics. Manufacturers are able to more accurately reflect on their efficiency, productivity, supply chain, finances, and maintenance needs. By applying past data to current analytics, the ERP solution can help make predictions to guide decision makers.
Manage supply chains
Receiving real time updates of supply chain can be made with predictive analytics which is beneficial for an enterprise. For instance, regular shipping data can help to keep supply chain run smoothly and maintain a trustable relationship with customers by providing accurate data of the products arrival time. Furthermore, with predictive analytics, an ERP is capable of warning staff of potential shut downs or other issues requiring maintenance. Predicting such issues in advance, an organisation can save up to 40% on maintenance and repairs.
Implementation of ERP-Enabled Predictive Analytics
ERP automates, anticipates, predicts, and informs the stakeholders from a central system. With improved predictive analytics, manufacturers can identify patterns in customers and products; foresee and account for disruptions or changes in the supply chain; and manage assets to optimize production schedules and limit equipment downtime. In the event of unexpected disaster or loss the ERP solution will form an immediate response to these outages and takes data back up and real-time analysis of the problem for future references. Utilizing cross-organizational platforms with user-friendly dashboards allows for internal collaboration and informed decisions that can increase the output exponentially.
Conclusion
Predictive analysis of a business can be easily performed by ERP solutions software which has been proved to streamline their performance. PC Soft provides excellent ERP software solutions to various organisations for seamless processes. Our team of experts have an experience to customise the ERP software according to the organisations demand. Connect with us for creating a more digitised platform for your business and improve its all-round performance.