The Benefits of ERP Systems for the Manufacturing Industry – Part 2

Part 2 of the many benefits of an ERP system for the manufacturing industry, including efficient use of data, real-time insights and enhanced innovation.

In Part 1 of this blog series, we looked at just some of the benefits ERP systems bring to the manufacturing industry, including optimised supply chain operations, improved customer experience and increased productivity. There are many more benefits to be gained if you decide to integrate an ERP system into your current operations, so read on to find out more.

Gain real-time insights

ERP applications like Dynamics 365 for Finance and Supply Chain Management (D365 F&SCM) offer real-time insights into production and distribution planning. Using built-in analytics, manufacturing employees can access real-time information on almost any device, at any time of day. These real-time insights allow businesses to simplify and accelerate changes, unify process oversight, improve service quality and margins and enable more efficient communication between employees.

Use data more effectively

Manufacturing businesses generate vast amounts of data, but it’s how you use this data that really counts. Using data effectively is crucial to businesses’ success and ERPs can help you manage this. One report found that almost 60% of manufacturers currently use upwards of five separate systems to store and manage their financial data.

This simply isn’t effective, but a system like D365 F&SCM allows manufacturers to store all their financial data in one place. This simplified approach means you can use data far more effectively; gaining actionable insights, intelligent budgeting and forecasting and make demand predictions based on previous data. These predictions can be used to optimise output, match customer demand and eliminate wasted resources wherever possible.

Streamline asset management

Assets are a crucial part of any manufacturing business and ERP systems can help companies manage their assets to gain greater value. D365 F&SCM can be used to reduce equipment downtime, improve overall equipment effectiveness, and maximise longevity by performing proactive maintenance.

Manufacturers can also use collected data to monitor their equipment and develop strategies to ensure it's being used as efficient as possible at all times.

Enhance innovation

Time is money in manufacturing and many companies are on the lookout for ways to shorten production cycles and get products on the market faster. Microsoft Dynamics 365 ERP solutions enhance innovation by offering greater insight into business operations, including areas that can be optimised or processes that can be shortened.

Product, customer and performance data can be analysed in real-time, allowing manufacturers to respond to changes quickly and improve the way they work. Smart analysis of costings and resources, and streamlined production processes, all contribute to greater innovation.

ICS: Microsoft Dynamics ERP Experts for the Manufacturing Sector

Are you ready to see what an ERP system can do for your company? Get in touch with the expert team of developers and consultants at ICS to discover how we can help. We specialise in Microsoft Dynamics 365 ERP implementation and customisation services and are proud to be industry leaders in our field. To learn more about the many benefits of ERP system implementation for your manufacturing business, contact the ICS team today!