The manufacturing industry is evolving with the rise in deployment of technology-enabled tools, like manufacturing ERP software, that drive the need for increased automation in companies. This demand for automation with manufacturing erp software extends to various aspects of the manufacturing process, including design, procurement, production, marketing, and sales.
Automation and digitization of manufacturing processes further enhance efficiency and productivity for data-driven decision-making and improved sales. Cutting-edge Enterprise Resource Planning (ERP) software catalyzes this process by providing a centralized platform to help manufacturers streamline end-to-end manufacturing operations.
Read on to learn what manufacturing ERP is and how it works.
What is Manufacturing ERP Software?
The Manufacturing ERP Software is a collective suited or automated process helping plan, manage, and execute day-to-day operations in the manufacturing facility. The software is explicitly designed to cater to the specific needs of a manufacturing company and provide an updated and integrated view of data to the manufacturers.
It brings together multiple business functions to ensure smooth and error-free operations. An optimized ERP software developed for manufacturing units will cover different functional areas from inventory acquisition and designing to materials planning and scheduling to production. In addition, the software also oversees quality testing and distribution. Therefore, it can be said that ERP software for manufacturing companies provides a complete 360-degree view of the business from the shop to the top floor.
How Does Manufacturing ERP Software Work?
ERP platform for the manufacturing industry integrates with the manufacturing business’ shared databases and applications. It is a unified business management platform that simplifies regular manufacturing operations while digitizing and automating core functions like inventory, purchases, production, and sales.
ERP for the manufacturing company functions through the following discussed vital modules:
The procurement module, or the purchasing module, helps manufacturing companies secure varied products and raw materials to manufacture goods. Enterprises can keep a checklist of specific vendors in the procurement module and attach that supplier to particular items, resulting in efficient supplier relationship management.
In addition, the manufacturing ERP module can automate the inventory procurement requests while tracking and analyzing them.
Operations and production management module
Operations management is the heart of any manufacturing business. It’s crucial for manufacturing companies to produce products that meet customers’ needs. These products must be made based on a schedule so they can be delivered to the customers on time. Moreover, materials, employees, and ingredients must be allocated optimally for the operations to achieve the schedule.
The ERP software is the ideal platform for managing operations and production. Operations and production management modules are designed to design, plan, and implement large-scale operation and production processes to manage raw materials, allocate resources optimally, and produce finished goods on time.
Inventory management module
The inventory management module of a technologically advanced ERP platform is an excellent solution for manufacturers to control inventory by monitoring product quantities and locations. The module delivers information about the current and internal incoming inventory through the procurement integration tool.
Order management module
Order management is another vital ERP module that automatically tracks every order from receipt to delivery while caring for all manufacturing units, warehouse operations, retail stores, and distribution centers. Moreover, you can prevent your orders from getting lost with the help of the order management module, resulting in timely delivery and satisfied customers.
Finance accounting module
The finance accounting module helps manufacturing businesses grasp the present financial state and future trends. This module features general ledger management, account receivables, account payables, and other financial aspects. Moreover, the EP module creates and stores vital financial documents like profit and loss statements, balance sheets, payment receipts, and tax statements.
Manufacturers can use the financial accounting module to automate all business finance-related processes, including cash management, billing, vendor payments, financial reporting, etc. It helps the accounting department deploy all essential accounting practices while complying with the relevant accounting standards.
Today, the world is full of technologically advanced applications and software businesses can deploy to carry out the most critical tasks seamlessly. One such high-performing solution is ERP for Manufacturing. Manufacturers can elevate their business efficiency, productivity, and profitability by using customized ERP software tailored to their organizations. ERP software works by providing the above-discussed modules, helping manufacturing companies achieve business goals and earn high profits.
Eresource Infotech Pvt Ltd is leading ERP Software company, we offering ERP Software for manufacturing, construction, process manufacturing, transport, trading and distribution industries