Many manufacturers and distributors understand that there is a level of uncertainty when predicting customer demands, inventory needs, and revenue. This is particularly true when working with inadequate or disparate, specialty software solutions. Instead of managing the peaks and valleys as they happen, deploy a stronger technology that can highlight the patterns that can lead to better forecasting, increased revenues, and happier customers.
Whether you have hundreds or thousands of products to manage during manufacturing and distribution operations, it can be challenging to know what to order, the quantities, and when. The economy can be as unpredictable as customer demand and you could end up with a dozen rush orders for overnight delivery and be unsure whether you can fulfill them. While you can’t predict the future with absolute perfection, you can position your business to weather these ups and downs by implementing a robust enterprise resource planning (ERP) solution.
Managing all of your business data from within a single, integrated ERP solution will put you closer to the data that you need to make strategic procurement and planning decisions. You can use ERP to manage financials, supply chain and inventory data, manufacturing and distribution operations, and other core business data. You can monitor data in real time, such as inventory levels and customer orders, and make proactive decisions about what inventory to buy, how much, and when to place that order. A powerful ERP solution, such as Microsoft Dynamics® GP, supports inventory tracking with RFID, barcodes, or EPCs that provide accurate inventory counts. Instead of losing time performing physical counts, you use real-time data to determine whether to order items or use what’s available in the warehouse.
Built-in business intelligence and reporting features add an additional layer of visibility into what customers are buying. You may identify trends in buying habits or determine whether products are increasing or waning in popularity. Getting to know customers better can also highlight replenishment or other regular orders. These patterns of data and customer behavior can plan an important role in your procurement choices and production scheduling.
Replace forecasting uncertainty with the insight offered in a strong ERP solution. Contact The Resource Group for additional information about how to turn data patterns into better forecasting for better revenue with ERP.
By The Resource Group, Washington Microsoft Dynamics GP Partner