An ERP software involves a significant amount of investment that organizations in the manufacturing sector undertake. However, while choosing the right ERP software is of paramount importance, it is equally important to keep updated on the latest trends and technologies in the industry. Implementing a Manufacturing ERP software into your day to day operations has a positive impact on your business in many ways. From streamlining various activities and connecting them step-by-step as per process flow, there are a lot of benefits ERP brings along in the organization.
We understand that the primary goals for any manufacturing company would be – a. Develop rapid production facilities b. Reduce wastage and c. Ensure timely deliveries. Let us look at the trends that are set to be benchmarks in ERP for the manufacturing industry in 2023.
Trends to watch out for in 2023
1. Cloud Migration
Cloud migration of the ERP system will be the trend to watch out for across all the industries.. There are numerous ERP software solutions that are cost heavy in terms of infrastructure and maintenance. However, cloud ERP, once up and running, is highly beneficial and can be used from any system owing to the mobility of devices. With the ERP at everyone’s fingertips, it will be easier to monitor, approve requests and get ahead of potential operational mishaps.
Also,the gradual adoption of cloud ERP will prove to be an important component for implementing and adapting to the IIoT for manufacturing ERP. But what is IIoT or the Industrial Internet of Things? The IIoT is a platform for network-connected smart machines with embedded sensors. The implementation of the cloud ERP will allow the platform to receive, send and collect data without any human interventions and it will be the only place to leverage, collect and streamline the data. Manufacturing companies and their operations management verticals are gradually embracing the IIoT technology to ensure close surveillance of various parameters, thus gaining better control over the processes and the quality output.
2. IIoT with ERP
With the advent of newer technologies and devices, there will be huge amounts of data generated via the IIoT. There will be new devices and tools that will effectively communicate with each other, thus creating opportunities to achieve newer levels of automation.
ERP implementation in the manufacturing industry will be critical because all the data captured can be stored to generate output in the form of dashboards and reports. This will help improve processes and therefore cut costs. Through the ERP system, supervisors and users will be able to get a view of real-time and historical data of production, inventory and machines. The insights from the reports can be strategically leveraged to monitor the condition of production equipment, make predictive maintenance thus improving the lifespans of machines to ensure superior quality output.
3. Integration will be crucial
Making the transition to the cloud, getting access to data on connected devices, linking to different machines and sharing information with the relevant people within the organization – all of this means that integration will be extremely important. The capability of a manufacturing ERP system to ensure a seamless integration to any connecting methodology, can assist or hinder the path of the organization to a better digital transition.
4. The role of ERP and Artificial Intelligence
Towards the end of 2022, the availability of ChatGPT took the world by storm. This language processing tool is solely driven by AI, thus showing that artificial intelligence as a technology, could be used in a more general way and to also gain a better understanding of problems. Some of the best ERP for manufacturing will come equipped with AI in the not-so-far future. AI as a technology will be embedded into the ERP offerings in order to make decisions faster, optimize and streamline processes while also focusing on improving product delivery and quality. To be in sync with the implementation of AI, organizations will have to hire talent with this new skill or even up-skill their employees to operate the AI embedded manufacturing ERP software in the future.
5. Remote access at all times
With devices being interconnected, cloud computing and availability of data, New Horizon the best ERP software for manufacturing in India will ensure remote system access with real-time data. Hence, the manufacturing staff of the organization will be able to gain access to the details about machines, evaluate their performance and check out insights remotely and at all times.
There’s always a chance that unwanted people may gain access to an organization’s data. To prevent such an event, strong cybersecurity protects the computer’s hardware, software, data, and systems from attacks on networks, applications, cloud and all critical infrastructure. Owing to the interconnectivity of machines and devices along with the availability of large amounts of information, an ERP system in sync with the trends and updated cybersecurity will be imperative for the protection of data.
7. Environmental & social awareness
With the world becoming increasingly cautious towards climate & various natural disasters, stakeholders of an organization will gravitate towards businesses that are environmentally and socially aware yet responsible. The year 2023 will see organizations applying the ESG or the environmental, social and governing, in-built reporting capabilities, to avail timely, verifiable and precise reports for the organization’s stakeholders.
For us at SourcePro to ensure your organization is ahead of your competitors, we make certain that our product, the New Horizon Enterprise, is constantly evolving. SourcePro’s New Horizon Enterprise is equipped to deliver manufacturing organizations digital solutions that will help implement new ways of working while making organizations more adaptive to change. What does this mean for manufacturing organizations?
- Acknowledging the importance of decisions based on data in order to improve processes and production.
- Adapting the use of digital platforms to ensure smoother operations.
- Implementing technologies and practices that will aid in information sharing across the business.
- Joining the trend towards sustainable business practices, materials and processes.
It is well acknowledged that the future of businesses depends on the future of Manufacturing ERP. With over two decades of experience, SourcePro specializes in future-ready enterprise platforms that deliver business value and help realize ROI for clients. Every technology inside our Manufacturing ERP software has been developed to ease operational challenges within the organization.