Manufacturing businesses are highly in search of ERP systems in order to be a recipient of their outclass benefits. Proper functioning of the software is only achievable when it is having modules and tools as per business facets.
So, what modules should be there in the manufacturing software systems?
We tend to agree that manufacturing is a broader field and it has many dimensions. This write-up focuses on the modules which you shouldn’t overlook in manufacturing ERPs.
Let’s study about such modules in detail.
- Inventory Management
Manufacturing businesses regard inventory as their asset. Their goods need to be managed from end to end. Just imagine manual processes to keep a check on inventories. It is really very hard. Instead, an ERP software for manufacturing will not only count the inventories in hand, but will also notify when the minimum stock is left.
It also sends alerts as well about the stock going to be expired soon. Fulfilling the customer demands at the time is crucial in retaining them. And ERP certainly helps provide the solution of having inventory on hand at the right time. Hence, you can never go out of stock at the time of need.
- Order Management
Work order refers to such documents which encapsulates mandatory product details. It is generated to fulfill the sales opportunity. You have the option of creating it from a sales order, router or by checking the inventory details. You can use manufacturing management software for generating work orders, purchase and sales orders automatically.
This automated process will just take a few seconds to show you an error-free work order. Further to this, it will extract information from the system by default and therefore you will not have to worry about any mistake in it. You are allowed to make changes in it. Hence, the use of such software is quite time and energy saving.
- Vendor Management
ERP puts forth another great benefit by providing a vendor management system as well. What it does is that it stores all of the quotations from suppliers and helps maintain its record. Doing so, it rates the vendors and thereby you decide which suppliers to work with in the future.
This database will let you search for the vendors’ information in an instant. You can see and edit their details easily in this system. Your purchasing payables and invoices to vendors become easier through this all-in-one system. This software not only automates the processes, but minimizes duplication and guesswork to a significant level.
- Sales Management
Sales management tools within the ERP software facilitate you extensively in administering sales operations. You can identify customer demands, generate work orders, keep an eye on production and till the due date delivers the goods to the customer. You can enter the data related to your sales lead and maintain their profile.
It also gives you the option of sales quotation which lets the customer know about the certain product details and their cost. You can also generate a sales proforma invoice for the vendor to clear the payment. In brief, this sales management tool lets you achieve customer satisfaction and increase revenue and profits.
- BoM Management
Bill of management (BoM) is a list which has raw materials and other necessary components to manufacture a good or service. The list is usually created in a hierarchical structure where an order is followed about the required materials. BOM includes part name, part number, part description and part type.
This list will help you in getting to know about the exact item quantity and their details to accomplish the order. Manually creating bill of materials is a hard nut to crack. But credit goes to ERP which has this tool to execute this task comfortably and quickly.
- Quality Management
You shouldn’t neglect quality tool in ERP software. Manufacturing products which ensure quality is the aim of every firm. Customers prefer quality more than quantity. In order to not waste your efforts, the production management system ensures quality in products as well. Its quality module can affirm data transparency by highlighting errors in the data.
It affirms the standards and SOPs for manufacturing products. This all process helps achieve quality products. It also identifies and tracks the problems in manufacturing or certain loopholes which affect quality. By detecting such issues, it could be analyzed where the default is in manufacturing.
- Project Management
Project management modules also become a must in the ERP system. It becomes easier to recognize which resource to allocate for a project and at what time. You can monitor the progress of the project in real time. If there is any sort of alteration required on invoices, documents and orders, you can change them promptly.
Moreover, you can also detect the risks lie in the project. All issues will be handled timely and adequately because this system will keep on notifying about the issues side by side. Your project execution and completion will never be like before.
- Finance Management
Instead, you opt for a solo accounting and finance software for handling transactions, go for ERP connected modules. This integrated accounting tool will help you prepare and manage financial documents accurately.
Data extraction, transactions, expense reports and ledgers, all will be under one roof. You can prepare the customized reports by just selecting the required report type. There will be no question in the presented information because all this data has been drawn out from the database.
If you would like to keep a check on your workers’ performance, then don’t miss the HR module in ERP software. As per its competitive features, you can automate employee attendance which is surely a time-consuming task. You just need to integrate the attendance device with the software.
Furthermore, your HR planning and employee performance evaluation will take place seamlessly. You will be able to plan and manage your budget for the resources.
All the modules discussed above when placed in one single ERP software will do wonders for your manufacturing firms.