In your supply chain for consumer goods, time management is crucial. The number of hours in a day is limited, yet your list of things to do never seems to get any shorter. You might need to run a report, monitor inventories, make a purchase order (PO), amend the master schedule, and keep tabs on a reversal all on the same day. It is draining, especially if you have to switch back and forth between legacy systems and platforms, between inboxes and spreadsheets.
We want you to have the ability to utilize your time profitably. Any combination of systems cannot manage the demands of your supply chain better than the all-in-one ERP software. There are 11 key areas where an integrated consumer goods ERP performs better than the substitute:
1. Process Standardization and Creation of an Authoritative Source
Without an integrated solution, there are frequently numerous distinct systems managing comparable operations. In addition to being time-consuming and redundant, it also causes erratic data transfers and a lack of trust in the "correct" data pool.
All of your data is kept in one consolidated system via an all-in-one ERP solution, giving you total visibility into business operations and warehouse procedures. It promotes teamwork and communication and gets rid of the fragmented, antiquated systems that make it simple to forget, lose, or manage information incorrectly.
2. Scalability, Security, and Mobility
The historic events of 2020 brought to light challenges and opportunities for numerous consumer product companies. You could have been able to rise to the occasion in some situations, accept the unpredictable, and continue striving for a brighter tomorrow. In other situations, you might have had difficulty creating precise predictions, anticipating inventory demands, or successfully preserving the constantly delicate work/life balance.
3. Powerful Fulfillment and Shipping Options for Direct-To-Consumer Sales
16.1% of all retail sales are anticipated to take place online in 2020, with e-commerce having maintained a constant growth rate of 23%. And it happened before COVID-19. Due to increased safety laws, governmental constraints, and stay-at-home directives, more individuals than ever are shopping online. The change has only been hastened by the pandemic.
4. Tools for Managing Chargebacks and Electronic Data Interchange
You are roughly 10 steps ahead of the competition if you can accomplish this well and excel in the areas of EDI and chargebacks. Additionally, you're ensuring that more money stays in your pocket. The use of EDI streamlines and digitizes business partner communications. It is an electronic document interchange that takes the place of mail, faxes, and emails. It is the place where you and your business partners discuss important information about orders and shipping. It is now considered standard documentation.
5. Interdepartmental Cooperation and Communication
Business in the consumer goods sector has gone worldwide. It is no longer a one-stop shop, and national boundaries or linguistic obstacles no longer prevent or restrict collaboration. You and your business must change and advance along with work settings and technological advancements. Your company's operations are impacted by this kind of globalization of the supply chain.
6. More Reliable Inventory and Forecasting Tools
Forecasting inventory management, Demand evaluation, purchasing knowledge. All of these are essential tools if you want to optimize income potential and cut expenses. Your business will benefit from effective purchasing, simplified supplier management, integrated inventory forecasting and planning, and built-in forecasting, inventory planning, and purchasing capabilities from a consumer products ERP.
7. Improved Capability for Monitoring Supplier Production
Managing strict supplier production monitoring can be challenging. It's not like all the work is being done in your warehouse, where you can watch inventory, keep an eye on your manufacturing lines, and see what your personnel are up to. When your goods are in the hands of another supplier, it's not so simple. An all-in-one consumer goods ERP can be useful in this situation, especially if it is coupled with reliable supplier production monitoring tools.
8. Bring in Management Software for More Visibility
The process of importing goods from foreign vendors is complicated. Without an integrated technology to consolidate your processes, data, and communications, visibility into global production is all but impossible.
9. Tools for Product Lifecycle Management
Product innovation requires an ERP with integrated product lifecycle management (PLM) capabilities. It is a method that makes it possible to keep track of a product's progress over its full lifecycle. With integrated PLM, brand owners can track and share all product modifications, paperwork, and schematics with all parties involved for better cooperation and communication.
10. Stronger Reporting Capabilities, More Accurate Financial Data, and Better Accounting
If you don't have a completely integrated solution, your data is dispersed throughout numerous platforms and applications. This is not only costly, but it also obscures your data and is not transparent, accessible, or inclusive. You are unable to put your data into a common view. The entire picture is obscured.
11. Improved Business Intelligence and Analytics
The foundation for wise decisions is solid facts. To make sure your business is moving forward, you must use the data that your ERP provides. Many people have told us they track a lot of things, which is fantastic, including inventory, labor, output, chargebacks, etc. That is the first action. But using that data to make wise decisions to assure efficiency and profitability is the next stage when true transformation occurs.
Distribution ERP can provide you with everything you require because it is made for consumer products firms. We are aware that this is a bold claim. And we truly mean every word. We have faith in the effectiveness and profitability of our solution for your consumer goods supply chain.
Conclusion
The challenges and pressures of managing your data can be reduced when you have an ERP with all the required features and functionalities built in. Any day of the week, it will outperform a fusion of dissimilar systems. If you're interested in learning how a fully integrated ERP system may help you unlock the power of your company, contact us.
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