Author – Graeme Evans
Epicor guides readers through five trends to watch in manufacturing ERP: Artificial Intelligence, Big Data, Internet of Things (IoT), Cloud computing and Better UX.
Artificial Intelligence
Artificial Intelligence or AI has emerged as an innovative force in the manufacturing industry, promising to reshape industries and redefine production processes. With its ability to analyse vast amounts of data, identify patterns, and make informed decisions, AI is paving the way for greater productivity and competitiveness. However, despite its immense potential, many companies remain uncertain about what AI can do for their organisation.
Manufacturing has long been recognised as a data-rich sector, producing vast amounts of data at every stage of production. This data encompasses everything from supply chain logistics and production processes to customer feedback and market trends. The sheer volume and complexity of this data make it challenging for manufacturers to derive actionable insights manually. This is where AI adds value by offering sophisticated algorithms and machine learning capabilities to analyse and interpret this abundance of information.
To address this challenge, companies must first recognise that AI is not a one-size-fits-all solution. Instead, it requires a tailored approach that aligns with the organisation’s own goals, challenges, and resources. This begins with a comprehensive assessment of the current state of operations, identifying areas where AI can drive significant improvements in efficiency and cost-effectiveness.
Big data
Businesses generate a lot of data, but leaders who want to better understand their operations need to do something with that collected data. The rising use of business analytics and the benefits of data-driven decision-making shows that data can help tell the story of a business’current operations. From those insights, management teams can see where change is needed, and make improvements to machine efficiency, throughput, delivery time and materials usage.
ERP systems that have business intelligence and analytics tools built in can help manufacturers to collect and analyse the large volumes of data that they already collect.Analytics dashboards that visually represent the story that data is telling about a business can management teams the insights they need to make more informed decisions about their operations.
As an example, one of the biggest challenges facing manufacturers today is the increasing cost of raw materials. By utilising the operational insights that an ERP can provide, businesses can find ways to reduce those costs, become more efficient with those raw materials, or shift their budget to find ways to reduce costs elsewhere.
Internet of Things (IoT)
IoT devices are smart gauges, sensors, and other data trackers that can be deployed throughout manufacturing plants, factories, and distribution fleets. While IoT devices have been around for decades, the number of devices in the market is expected to triple to more than 29 billion by 2030.
IoT devices can collect large amounts of data across physical assets, giving manufacturers insight into their operations. Data such as energy use, assembly speeds, downtime, and shipping information can all be tracked with IoTs, giving manufacturers unique insight into their supply chains and helping them to improve their operational efficiency.
ERP systems already collect, synthesise, and analyse data from other sources across a manufacturing business. Embedding IoT devices throughout a production line gives management teams a more comprehensive picture of their operations, enabling them to improve downtime, increase productivity, and better forecast maintenance schedules.
Cloud computing
It is no secret that on-premise hardware limits businesses by requiring them to have finite storage space and physical assets that need constant maintenance. By contrast, cloud environments can be accessed from anywhere, allowing management teams to efficiently scale their companies at the same rate that their business grows.
In fact, cloud adoption is nothing new, and more than 90 per cent of organisations already rely on cloud capabilities to ensure flexibility, scalability, and security. ERP solutions are also leaving behind on-premise assets and limited hardware to expand into the cloud, too.
By having a cloud-based ERP, manufacturers can store massive amounts of organisational data while also having the ability to extract insights that can improve their operations. Having a cloud-based ERP also means that workers can access an ERP’s information and insights anywhere they happen to be, allowing for more flexibility on remote and global work.
Better UX
Remember 2007? That’s the year that Apple launched the revolutionary iPhone, raising the bar for smartphones and changing the way that we all interact with technology. That was almost 20 years ago, and smartphones, smart TVs, self-service kiosks, and other screen-based user interfaces have since become part and parcel of our daily lives.
ERPs can now allow employees to build a business application, customise an analytics dashboard, or model a workflow, but none of it will appeal to workers on the shop floor unless they prioritise useability. A well-designed ERP should work like a mobile app or social media site so that it is easy, familiar, and appealing to its users.
To increase adoption, modern ERP systems should implement the type of design and functionality that its users — workers who already interact with smartphones, laptops, and other digital technology — are familiar with. Higher and quicker adoption means faster time to value and better productivity because everyone is literally on the same page.
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