FOCUS ON CONTROL TECHNOLOGIES
A SEAMLESS FLOW
As manufacturing embraces digitalisation and Industry 4.0 , Enterprise Resource Planning software is a valuable tool for streamlining and automating the activities needed by manufacturers .
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“ The global enterprise resource planning ( ERP ) market size is estimated at US $ 65.25 billion in 2024 and is expected to reach US $ 103.95 billion by 2029 .”
The increasing digitalisation of manufacturing and favourable government policies for digital technology software implementation have spurred the adoption of manufacturing software packages . Manufacturing software solutions can provide real-time access to accurate business intelligence to help ensure better resource planning , scheduling and tracking , as well as supporting lean manufacturing operations . Robust , scalable , modular tools for process , material and throughput optimisation enable manufacturers to align production goals with cash flow and profitability objectives .
Benefits such as ease of workflow , less turnaround time and high production capability provide transparency , allowing managers to gain better insights and make effective decisions . The increasing adoption of innovative and advancing technologies is broadening the value of existing ERP systems , minimising third-party dependencies , advancing highly secured resources and boosting financial systems .
Manufacturers all over the world are focusing on improving their business processes to improve operational efficiency , while keeping track of operating expenses . They want a centralised solution to manage a variety of business processes including finance and accounting , sales and marketing , and procurement and supply chain .
From engineering and planning to production and quality control , manufacturing software packages offer the tools that a business needs . These suites can be used to streamline product design and configuration ; track and manage product components ; automate production scheduling ; accelerate the manufacturing process and improve product quality .
Enterprise Resource Planning ( ERP )
ERP ( Enterprise Resource Planning ) is an information system designed to coordinate the resources , information and processes within an organisation . It comprises a common database that provides interfaces and information to every department within the business . ERP is a category of business management software — typically a suite of integrated applications — that an organisation can use to collect , store , manage and interpret data from many business activities , including product planning , purchase manufacturing or service delivery ; marketing and sales ; inventory management ; shipping and payment .
ERP implementations have made it easier and less expensive for small and mediumsized businesses to use business process automation and integration . Scalable and flexible ERP software gives small and medium
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118 | ismr . net | ISMR October 2024